Masdar also signed an MoU with the State Oil Company of Azerbaijan Republic for the joint development of renewable energy sources
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South Korean consortium to build $1bn green hydrogen plant in the UAE
The South Korean companies – Korea Electric Power Corp, Korea Western Power and Samsung C&T Corp – will build a plant that will initially be able to produce 35,000 tonnes of green ammonia annually
Egypt, Germany’s H2 Industries sign agreement to build $4bn green hydrogen plant
H2 Industries will produce clean hydrogen powering Egypt’s domestic energy transition and allowing it to become an exporter of clean hydrogen
ADNOC Drilling acquires 2 new premium offshore rigs
The two new drilling units are being acquired from Well Target Five Limited and Well Target Six Limited , and will enter ADNOC Drilling’s fleet in Q3 2022
Worley wins FEED services contract from Alfanar for UK-based project
Lighthouse Green Fuels, for which Worley has won the contract, will convert residual solid waste into sustainable aviation fuel and green naphtha
Saipem sells onshore drilling business for $550mn to KCA Deutag
The Saipem-KCAD agreement will create a leading global onshore drilling business with over $1.6bn in revenue across core geographies in the Middle East and key markets in Europe and Latin America.
JGC Arabia awarded EPC contract for Saudi Arabia’s Zuluf field
JGC has emerged as the single largest contractor on the Zuluf megaproject, with the combined value of its contracts estimated to be more than $3bn
Sadara’s EO/PP pipelines begin supplies to Saudi Arabia’s 12sqkm PlasChem Park
Sadara’s EO/PO pipeline transportation system is the first of its kind in the Middle East and North Africa region
Air Products, ACWA Power and OQ sign agreement for green ammonia project in Oman
The joint development agreement that was signed by Air Products, ACWA Power and OQ follows a memorandum of understanding signed in December 2021
5 ways to reduce risk in fossil fuel projects despite energy transition uncertainty
In an era of uncertainty, the time to start managing stranded cost risk is now