At the heart of an oil-rich kingdom pumping millions of crude oil per day is an ambitious vision to slash emissions and transition towards clean energy. Interestingly, the kingdom is injecting money in both. Saudi Arabia is transitioning to bridging solutions and shifting towards cleaner gas-burning instead of oil for its energy production, using gas […]
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Iran producing over 3 million barrels of oil per day: Minister
Iran’s oil production has surpassed 3 million barrels per day, Reuters reported, citing Iran’s Oil Minister. “Over the last 20 months, Iran’s oil production has reached levels above 3 million barrels per day and natural gas output has reached more than 1 billion cubic meters,” Javad Owji said. Iran pumped 2.4 million barrels per day […]
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Ensuring safety of oil and gas workers
Magellan X’s worker safety solution offers near realtime visibility to front line safety operations, which enhances worker situational awareness and compliance assurance
Posted inNews
Kuwait eyes $19 billion oil and gas projects until 2030
Kuwait plans to invest nearly $19 billion on 10 large oil projects in the next seven years, Zawya Projects reported, citing a local newspaper. The largest project involves the construction of a petrochemical complex near the Southern Al-Zour oil refinery, which has just been completed at a cost of more than $15 billion, the Arabic […]
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Middle East’s largest oil and gas discoveries: Everything you need to know
Contrary to popular belief, the first oil well in the Middle East was not discovered in Saudi Arabia. That came later. Oil was first discovered in Persia, now known as Iran, thanks to William Knox D’Arcy, a British national, who had got a 60-year concession from the Iranian government. D’Arcy funded the operation, which started in 1903, […]
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Oil and gas projects worth $185 billion set to be approved this year
According to new analysis from Wood Mackenzie, final investment decisions (FIDs) will be reached for upstream oil and gas projects worth $185 billion to develop 27 billion barrels of oil equivalent (boe). Furthermore, Wood Mackenzie expects national oil companies (NOCs) to control the largest investment opportunities this year, taking advantage of huge, discovered resources, while boasting […]
Posted inBusiness
Unlocking the power of digital twins: A game-changer for oil and gas production
Digital twins are changing the game for the industry, providing a complete 360-degree replica of physical assets and enabling companies to optimise their operations and improve asset availability
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Revealed: Top 5 oil and gas contracts in March 2023
In case you missed the announcements, here is a list of the top five contracts secured for oil and gas projects in the region
Posted inExploration & Production
Algeria announces six new oil discoveries
Algeria’s state-owned energy company Sonatrach, one of the world’s largest oil firms, has announced six new oil discoveries in various parts of the North African Arab nation. In a statement published by local media, Sonatrach said the new discoveries were made in the first quarter of 2023. Two discoveries were made in Amguid in East-Central […]
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Kuwait Oil Company awards $76 million oil flow lines contract
Combined Group Contracting has announced in a statement that it has secured a five-year contract worth $76.5 million for oil flow lines project issued from Kuwait Oil Company. The company states that the works includes construction of flow lines and associated works in Umm Niqa And South Ratqa in Kuwait. Headquartered in Kuwait, Combined Group Contracting […]