APICORP’s net income from operations grew significantly to $97.9mn in H1 2022 from $40.7mn in H1 2021
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James Fisher and Abu Dhabi’s NMDC Group to collaborate on marine and subsea projects
The collaboration will enable James Fisher and NMDC to expand their capabilities jointly in offshore wind, turnkey O&G decommissioning, and accelerating the energy transition
ADNOC Distribution acquires a 50% stake in TotalEnergies Egypt for approx. $200mn
The acquisition by ADNOC Distributions will also see the refurbishment of several service stations to ADNOC branding, offering a robust foothold in a fast-growing fuel retail market in Egypt
ADNOC makes second gas discovery from offshore Block 2 exploration concession
Operated by Eni, ADNOC’s latest discovery indicates a further 1 – 1.5 TSCF of natural gas from a deeper zone in Abu Dhabi’s Offshore Block 2 Exploration Concession
Dubai-headquartered Shelf Drilling wins 3-year offshore rig contract from ONGC
Shelf Drilling will begin the planned start-up of operations is Q2 2023, and will continue for a three-year period.
Veolia and TotalEnergies to build the largest PV system for desalination plant in Oman
Th 17 megawatt peak solar project by Veolia and TotalEnergies will be the first of its kind to be installed in the region
ADNOC Drilling wins $2bn contracts for mega development project
Overall, more than 80% of the value of the awards will flow back into the UAE’s economy under Adnoc’s successful In-Country Value programme
Rosatom begins onsite works on Egypt’s first nuclear reactor El Dabaa’s unit 1
The contract stipulates that Rosatom will finance and build the plant, supply Russian uranium to fuel it, and begin a 10-year training programme to give Egyptian engineers the skills needed to run the reactors
Korea-based GS Inima reaches $138mn financial closure for Oman desal plant
GS Inima has obtained financing for 100% of the project’s needs by signing a 22-year non-recourse loan under the Project Finance modality and a bridge loan to finance the project’s equity
Hitachi Energy wins major order to provide 2 HVDC systems to transmit green electricity
Hitachi Energy’s wind farm will have the capacity to generate up to 2.85 gigawatts of renewable electricity, enough to power more than three million UK homes