KAUST in Saudi Arabia is working on custom AI algorithms for process control and optimisation, which will eventually help oil and gas firms with green hydrogen generation
oil
Posted inNews
ADNOC Drilling acquires 2 new premium offshore rigs
The two new drilling units are being acquired from Well Target Five Limited and Well Target Six Limited , and will enter ADNOC Drilling’s fleet in Q3 2022
Posted inNews
Saipem sells onshore drilling business for $550mn to KCA Deutag
The Saipem-KCAD agreement will create a leading global onshore drilling business with over $1.6bn in revenue across core geographies in the Middle East and key markets in Europe and Latin America.
Posted inNews
Adnoc finds new oil at Bu Hasa, Onshore Block 3 and Al Dhafra fields
The 500 million barrels of oil discovered from the exploration well in the Bu Hasa field has unlocked a new formation within the field, offering substantial additional premium-grade Murban oil resources
Posted inNews, Exploration & Production, Products & Services
McDermott secures new FEED contract from ADNOC
The Fujairah LNG Facility’s FEED services will be performed by teams in McDermott’s offices in London and the UAE
Posted inEnergy Transition
At the centre of the energy transition
Ahmed Ali Attiga, the chief executive officer of Arab Petroleum Investments Corporation (APICORP) sits down to explain the role that Middle East will need to play through the energy transition
Posted inNews
Eni, Sonatrach announce oil and gas discovery in Berkine North Basin in the Algerian desert
Early estimates place the size of the find at around 140 million barrels of oil
Eni and Sonatrach announced Sunday that they had discovered significant oil and associated gas in the Zemlet el Arbi concession, located in the Berkine North Basin in the Algerian desert. The two companies have been operating the concession together as a joint venture owned 49% by Eni and 51% by Sonatrach. According to a statement […]
Posted inNews
UK PM Johnson to meet UAE, Saudi Crown Princes amid oil market supply worries
The leaders will meet while global markets continue a tumultuous 2022 amid Russia’s ongoing war in Ukraine
UK Prime Minister is set to visit the UAE and Saudi Arabia this week amid calls for the Organization of Petroleum Exporting Countries (OPEC) to increase oil output, Arabian Business reported. Oil prices have surged this year as supply issues caused prices to increase with the Ukraine-Russia crisis later throwing markets into turmoil. Sanctions imposed […]
Posted inNews
The critical role partnerships play in the future of the energy industry
Azim Akhmadkhadjaev, First Deputy Minister for the Ministry of Energy in Uzbekistan spoke with Oil & Gas Middle East about how his country handled the pandemic, the role of gas in the energy transition, and the importance of cultivating partnerships for growth
How did the country’s gas sector fare during the pandemic? In 2020, natural gas production decreased by 12%. However, Uzbekistan recovered from this pandemic-induced drop during 2021, achieving more than 95% of pre-pandemic output. Overall, Uzbekistan’s economy was one of the few posting positive growth (1.7%) during the pandemic year. Considering almost the entire volume […]
Posted inNews
Russia sanctions already impacting oil supply, says IEF
Sanctions cause commodity prices to surge and equities to sink as economic fears increase
Non-energy sanctions have already taken effect on the Russian supply of oil, with reduced supplies, leading to further price spikes and volatility, the International Energy Forum (IEF) said on Monday. Data on exports from Russia’s hubs in the Baltics and the Black Sea have indicated that demand for the country’s oil has disappeared as the […]
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