Aramco has appointed Nasir K. Al-Naimi as president of its Upstream business, and Mohammed Y. Al Qahtani as president of its Downstream business, Aramco announced in a press release today. Both presidents will report along with Aramco’s executive vice presidents to the Company’s President & CEO Amin Nasser. The newly-created positions and appointments, approved by the […]
oil and gas
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Saipem secures $850 million offshore contracts
Saipem has been awarded two new offshore contracts worth $850 million, one for Engineering, Procurement, Construction and Installation (EPCI) project in the Black Sea and the other for decommissioning activities in the North Sea. The first contract has been awarded by Turkish Petroleum OTC for the second phase of Sakarya FEED and EPCI Project and […]
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Iran to launch $15 billion oil and gas projects this year
Iran will launch about $15 billion worth of oil and gas projects in 2023, according to the country’s oil minister Jawad Owji. All of the launched projects have had a direct impact on increasing the production capacity of the country, he added. In the last Iranian year (March 2022-23), $12 billion worth of oil, gas […]
Posted inExploration & Production, Exploration
Nigeria awards million-dollar exploration contract for onshore project
Seismic acquisition technology and solutions provider STRYDE, has been awarded a contract worth over $1 million for the supply of 10,000 seismic receiver nodes and its “Nimble” node receiver system for an onshore oil and gas project in Nigeria. STRYDE’s seismic sensor technology will be utilised on an upcoming 3D seismic survey conducted by Nigerian […]
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Kuwait eyes plan to allow expat investment
A ministerial committee in Kuwait has put forward a proposal to the Cabinet suggesting that non-Kuwaitis be allowed to own investment residential properties, as reported by the Kuwait Times. The proposal seeks to revitalise the economy and draw capital to Kuwait by creating liquidity to release mortgages and “inject these amounts into the national economy.” […]
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Nigeria needs $12 billion to clean up Shell, Eni oil spills
Africa’s largest economy Nigeria will require $12 billion to address the long-standing oil spills in southern Bayelsa state over a 12-year period, global newswire Reuters said, quoting a new report which specifically holds Shell and Eni accountable for the majority of the pollution. Bayelsa, a major oil-producing state in the Niger Delta, has been plagued […]
Posted inDownstream
Lebanon secures deals to get more Iraqi oil
Lebanon has secured deals for more fuel supplies from Iraq, the two countries said on Tuesday, as Beirut battles to produce more power to help it emerge from years of economic crisis, Reuters reported. Baghdad has agreed to increase the volume of heavy fuel oil supplied under an existing deal by 50% to 1.5 million […]
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QatarEnergy awards $10 billion EPC contract for LNG megaproject
QatarEnergy has announced the award of a $10 billion contract for the North Field South (NFS) project to a joint venture of Technip Energies and Consolidated Contractors Company (CCC). The NFS project comprises of two LNG mega trains with a combined capacity of 16 million tons per annum (mtpa). NFS, together with the North Field […]
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Middle East oil producers and cybersecurity: Too big to fail?
Once dominating global headlines, cyber-attacks on oil majors across the GCC became less common in recent years, but not because hacker attacks became less. An agile, diversified investment into cyber defence is key to keeping e-viruses and trojan horses out. The “Masque of the Red Death” by American writer Edgar Allan Poe describes the desperate […]
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Samsung Engineering signs deal for modular projects
Korean engineering major Samsung Engineering, and integrated energy firm OMV, have announced the signing of an MoU to jointly develop sustainable projects based on modularization. The MoU was signed at the OMV headquarters in Vienna, Austria, by Martijn van Koten, an executive board member of OMV and EVP Fuels & Feedstock, and Hong Namkoong, president and […]
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