Converging market conditions are creating a beneficial landscape for the region’s oil producers
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Petrofac reaches agreement for $700 million facility extension
Petrofac expects to report a net debt of $116 million as of 31 December 2020
KOC to award $900 million deals to mitigate oil pollution
Five main packages will involve treatment of oil-polluted soil in North and South Kuwait
Kuwait searches for a path to post-pandemic recovery
Kuwait has great ambitions for its oil and gas sector, but faces a series of challenges on the way to its goal of 4 million barrels per day of production capacity
Abu Dhabi suspension leaves Petrofac cut off from key markets, says GlobalData’s MEED
ADNOC banned Petrofac from new projects following bribery charges brought against a former executive at the EPC giant
ADNOC Group bans Petrofac from new contracts on bribery charges
A former Petrofac executive pleaded guilty to making $30 million worth of corrupt payments to influence the award of UAE contracts
Abandoned, destroyed offshore Iran wells secured
Four wells in the Nowruz field destroyed during the Iraq/Iran war were secured
Global oil & gas upstream activities market to grow at CAGR of 26.6% to $3,335bn in 2021
The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact
Qatar’s attempt to reclaim the LNG throne will make Middle East 2021’s global sanctioning epicenter
Qatar’s move to sanction the $30 billion North Field Expansion project puts the country on track to return as the world’s largest LNG producer by 2030
Dana Gas posts $376 million net loss for 2020
The company aims to expand its KRI projects and will drill its next exploration well in Egypt’s Block 6, while finalising the sale of its onshore assets in the nation