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Posted inEnergy Transition

Seismic vessel utilization recovers to pre-Covid-19 level as market embraces energy transition jobs

by Carla Sertin

Seismic vessels are being used for hydrocarbon exploration in addition to energy transition initiatives including carbon capture and storage, offshore wind, and geothermal

The Covid-19 pandemic has been devastating for the seismic industry for several quarters, keeping nearly half of its global fleet inactive – until recently. A Rystad Energy report shows that the seismic fleet’s hibernation is now over, as vessel utilization has recovered to pre-Covid-19 levels in the third quarter of 2021. About 68% of the […]

Posted inProducts & Services

Aramco’s Abqaiq facility added to WEF Global Lighthouse Network

by Carla Sertin

Abqaiq becomes Aramco’s third facility to be included in the World Economic Forum’s group of 4IR pioneers

The World Economic Forum has recognized a third Aramco facility, Abqaiq, for its pioneering adoption and integration of cutting-edge technologies of the Fourth Industrial Revolution (4IR). The Abqaiq oil processing facility, the largest oil processing plant in the world, joins Aramco’s Uthmaniyah Gas Plant and Khurais oil complex in the Forum’s prestigious Global Lighthouse Network. […]

Posted inDRILLING & PRODUCTION, Exploration & Production

China set to spend $120 bn on services and drill 118,000 wells through 2025

by Carla Sertin

The nation is aiming to meet its climbing domestic demand and reduce its share of imports

China is looking to pump up oil and gas production in the years ahead to meet climbing domestic demand and reduce the record-high share of imports in its oil consumption. A Rystad Energy report projects a surge in spending till 2025, which will be accompanied by a drilling spree totaling 118,000 wells that will create […]

Posted inPartnership

Bentley Infraweek for the Middle East and Turkey highlights the value of digital twins

by Carla Sertin

Thought leaders and experts from the energy sector who attended the recently concluded Bentley Infraweek for the Middle East and Turkey agree that digital twins bring significant value to their organizations, changing the way that they operate. The event was an sponsored by Bentley Systems, the infrastructure engineering software company, to share emerging technologies, products, […]

Posted inProducts & Services

Petrofac to plead guilty to seven counts of bribery

by Carla Sertin

Former Petrofac employees made payments to influence the award of projects worth billions of dollars across the Middle East, the UK SFO says

Petrofac has reached a plea agreement with the UK Serious Fraud Office (SFO) and will plead guilty to seven bribery offences in relation to payments made for contracts across the Middle East. The SFO charged Petrofac with seven offences of failing to prevent bribery, as former employees who offered or made payments in relation to […]

Posted inExploration & Production, DRILLING & PRODUCTION

ADNOC Drilling to increase IPO to 11% of share capital

by Carla Sertin

The ADNOC Drilling IPO set to be largest-ever ADX listing

The Abu Dhabi National Oil Company (ADNOC) announced that it has increased the number of ordinary shares offered in the initial public offering (IPO) of ADNOC Drilling from 1,200,000,000 ordinary shares to 1,760,000,000 ordinary shares, which equates to 11% of ADNOC Drilling’s total issued share capital. Subject to completion of the IPO, ADNOC will continue […]

Posted inExploration & Production, DRILLING & PRODUCTION

ADNOC CEO: Natural gas pivotal to UAE economic growth for next 50 years

by Carla Sertin

H.E. Dr. Al Jaber noted LNG and broader gas markets globally are tightening, with demand outpacing supply

Natural gas is set to play a pivotal role in powering economic growth in the United Arab Emirates (UAE) over the next 50 years, according to His Excellency Dr. Sultan Ahmed Al Jaber, UAE Minister of Industry and Advanced Technology and Managing Director and Group CEO of the Abu Dhabi National Oil Company (ADNOC). Delivering […]

Posted inProducts & Services

Artificial intelligence software to impact offshore asset inspections

by Carla Sertin

New inspection solution reduces human risk and improves speed and accuracy

The power of ground-breaking, artificial intelligence (AI) technology has been harnessed in a new real-time inspection solution, capable of autonomously detecting and categorising equipment anomalies. The Augmented Machine Vision Solution (AMVS) has been developed through a 12 month, AUD$288,600 partnership between Wood and NERA (National Energy Resources Australia) – the independent NFP, grant funded by […]

Posted inPartnership

How to harness the digital transformation in commodities and energy

by Carla Sertin

A report from Refinitiv and the Boston Consulting Group asks: As commodities and energy become more transparent and automated, what are the implications of this new digital transformation?

Commodities trading is changing as we know it. Due to the pace at which data is being processed, allowing more accessibility and insight as a result. A report from Refinitiv and the Boston Consulting Group asks: As commodities and energy become more transparent and automated, what are the implications of this new digital transformation? The […]

Posted inProducts & Services

Tenable on how it engineers fire safety in Oman

by Carla Sertin

Tenable Fire Engineering Consultancy talks about its work in Oman, challenges working in oil and gas, and shifts in the industry

The oil and gas industry is paying more attention to safety in the region, as information is more readily available and regional companies look to international safety standards for guidance on ensuring that their projects are secure. “Stakeholders, from clients to developers, are paying more attention to fire and life safety, recognising its importance to […]