An overview of achievements, challenges – and the future outlook for the energy industry in KSA
Gas
Posted inEPC Contracts, Exploration & Production
Saipem wins three new EPC contracts for $900 million in Angola
Saipem will handle the project’s EPC work including hook-up and commissioning assistance
Posted inNews
Saudi Aramco, Sinopec sign agreement to collaborate on projects Â
Scope of agreement includes cooperation across upstream and downstream businesses, engineering and construction, oilfield services, carbon capture and hydrogen
Posted inNews
APICORP posts H1 2022 financial results; achieves $52mn net income
APICORP’s net income from operations grew significantly to $97.9mn in H1 2022 from $40.7mn in H1 2021
Posted inNews
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
Posted inExploration & Production
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
Posted inNews, DRILLING & PRODUCTION
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
Posted inNews
Nord Stream: Russia restarts gas flow to Europe at 40% of pipeline’s overall capacity
Further disruptions are expected as winter approaches, according to Wood Mackenzie, which outlines two scenarios for Europe in case of Nord Stream flows
Posted inNews
ADNOC and TotalEnergies sign strategic partnership agreement
ADNOC and TotalEnergies to explore opportunities to collaborate in areas of mutual interest, including in gas growth, CCUS and trading and product supply
Posted inNews, Products & Services
Worley wins 3-year contract to provide engineering and procurement services for Shell
Worley will support Shell’s transition to a digitised and more efficient project delivery model for continued maintenance and improvements of its offshore assets