Tanzania says the cost of developing its liquefied natural gas (LNG) project is $42 billion after the recent technical analysis, the East African reported. The country isn planning to sign the host government agreement next month and embark on the front-end engineering design of what will become the largest energy project in eastern and southern […]
oil and gas
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Saudi bank signs $1.4 billion deal for projects across industries
Jeddah-headquartered Islamic Development Bank (IsDB) has signed 77 financing agreements worth $1.44 billion with 24 member countries in a bid to address the ongoing global crises, Arab News reported. The deals were signed on the sidelines of IsDB’s annual meeting in Jeddah. Mohammad Al-Jasser, chairman of the group, said the agreements seek to promote various […]
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To gas or not to gas: The role of gas power in the changing energy landscape
The debate on renewable energy versus gas power generation is one that’s not going away anytime soon, and for good reasons. As the world becomes increasingly aware of the impact of climate change, the energy sector has been forced to rethink its strategies. The pressure to reduce greenhouse gas emissions has resulted in a shift […]
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Top 5 oil and gas contracts in the Middle East: April 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
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How will ChatGPT impact oil and gas projects?
Engineers and designers are building AI-models like ChatGPT to help create virtual worlds in the metaverse to run simulations and increase productivity and efficiency metrics
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Kuwait jobs: Expats needed to fill ‘labour shortage’
Kuwait’s First Deputy Prime Minister and Interior Minister, Sheikh Talal Al-Khaled Al-Sabah, has instructed authorities to take measures to open recruitment of expat workers from new countries, according to a report by Kuwait Times. The workers must be from countries other than those with large communities in Kuwait, to address labor shortages in certain fields and diversify labour […]
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Middle East eyes $120 billion spend to increase gas production
The Middle East is set to spend as much as $120 billion to increase gas production by 14 billion standard cubic feet a day (bcfd) to 86 bcfd by 2030, according to a new report by Wood Mackenzie. The report ‘The Middle East steps on the gas’ shows gas supply growth in the Middle East […]
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Turkey announces largest-ever onshore discovery
Turkish Petroleum (TPAO) has made the largest crude oil discovery onshore Turkey with a find estimated to hold 1 billion barrels of crude, the company said. The discovery was made in the southeastern province of Sirnak, which borders the semi-autonomous Kurdistan Region in Iraq and Syria. Turkish Petroleum has drilled an exploration well and has encountered […]
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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 […]
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