Ocean services provider DeepOcean and Saudi Arabia-based Jana Marine Services have signed a heads of terms agreement to establish a joint venture company that will offer integrated subsea solutions to the offshore energy industry in the Middle East…
ADNOC Drilling said on Wednesday it would buy an 80% stake in regional drilling and oilfield services provider MB Petroleum Services for an enterprise value of $204 million (749 million dirhams), marking a further expansion in the Gulf.The deal…
The Middle East continues to stand out as one of the most active regions for offshore support vessel activity, underpinned by the strategic expansion plans of national oil companies (NOCs) to boost offshore oil and gas production. A series of…
Yinson Production, the offshore unit of Malaysia's Yinson Holdings, plans to expand into Namibia and is considering an initial public offering within three to five years, its CEO said on Tuesday.The company, which in January received a $1 billion investment from global funds…
THREE60 Energy, a leader in the global energy services sector, has announced a step in its Middle East growth strategy with the acquisition of Total Vision (TV), a multidisciplinary engineering and project management services provider in Abu Dhabi…
In line with the vision of His Highness Sheikh Mohamed bin Zayed Al Nahyan, President of the United Arab Emirates, world-first project reaffirms UAE’s leadership position in clean energy, directly addressing intermittency of renewables. Project will reimagine potential of renewable energy…
Australia's Santos narrowed its annual output forecast for a second time this year on Thursday after a technical issue delayed the ramp-up of its key Barossa oil and gas project and inclement weather hampered recovery at its Cooper Basin project…
Santos is always prepared to consider any takeover offers for the company, the Australian gas producer's CEO Kevin Gallagher said on Friday, adding he would like to stay as CEO as long as he has the support of shareholders and the board.An $18…
International consortium, led by Abu Dhabi's National Oil Company (ADNOC), has withdrawn its indicative $18.7 billion offer to acquire Australian oil and gas producer Santos.The consortium, led by ADNOC’s investment arm XRG, said it will not proceed with a binding offer for Santos…
BW Energy has completed a $365 million project finance facility to fund the refurbishment and redeployment of the Maromba floating production, storage and offloading vessel (FPSO) to Brazil’s Maromba field.The loan, backed by China Export & Credit Insurance Corporation (Sinosure)…
Austrian oil, gas and chemicals group OMV plans to cut 2,000 of its 23,000 worldwide staff, the Kurier newspaper reported on Thursday evening.Citing staff unions, the paper said the company's Romanian subsidiary Petrom SNPP.BX would be especially severely hit…
Australian gas producer Santos on Monday agreed to further extend the exclusivity period for an $18.7 billion takeover bid from a group led by Abu Dhabi National Oil Co (ADNOC), and reported a better-than-feared 22% drop in first-half profit…
Santos has agreed to extend the exclusivity period granted to a consortium to enable it to complete due diligence on the purchase.The consortium, led by XRG P.J.S.C., a subsidiary of Abu Dhabi National Oil Company and includes Abu Dhabi Development…
Israel's Leviathan natural gas field has signed the largest export agreement in the country's history, worth up to $35 billion to supply gas to Egypt, NewMed, one of the partners in the field, said on Thursday.The deal should ease an energy crisis in Egypt…
Global energy technology company SLB and AIQ, the Abu Dhabi-based AI champion for the energy sector, have teamed up to advance AIQ’s continued development and deployment of its ENERGYai agentic AI solution across ADNOC’s subsurface operations…
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