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UAE: ADNOC Awards Deals Worth $763.7M to Schlumberger, ADNOC Drilling, Halliburton

Jul 14, 2021

The Abu Dhabi National Oil Company (ADNOC) on Wednesday announced awards of  $763.7 worth of contracts to Schlumberger, ADNOC Drilling, and Halliburton for integrated rigless services across six of its artificial islands in the Upper Zakum and Satah Al Razboot (SARB) fields. The investment is being made to support its production capacity expansion to 5 million barrels per day (mmbpd) by 2030.The scope of the contracts includes coiled tubing services with thru-tubing downhole tools…

Iran Opens Gulf of Oman Oil Terminal to Avoid Hormuz Strait

Jul 22, 2021

Iran has opened its first oil terminal in the Gulf of Oman, Iranian President Hassan Rouhani said on Thursday, to allow Tehran to avoid using the Strait of Hormuz shipping route that has been a focus of regional tension for decades.'This is a strategic move and an important step for Iran…

Saudi Arabia's Oil Exports at Four-Month High

Jul 19, 2021

Saudi Arabia's crude oil exports rose in May to 5.649 million barrels per day (bpd), their highest level in four months, Joint Organisations Data Initiative (JODI) said on its website on Monday.Crude oil exports rose from 5.408 million bpd in April…

OPEC+ to Boost Oil Supply from August

Jul 19, 2021

OPEC+ ministers agreed on Sunday to boost oil supply from August to cool prices which have climbed to 2-1/2 year highs as the global economy recovers from the coronavirus pandemic.The group, which includes OPEC countries and allies like Russia…

Report: Saudi Arabia, UAE Reach Deal over OPEC+ Oil Policy

Jul 14, 2021

Saudi Arabia and the United Arab Emirates have reached a compromise over OPEC+ oil policy, giving the UAE a higher production baseline and paving the way for extending a pact on remaining supply curbs to the end of 2022, an OPEC+ source said on Wednesday…

Subsea 7 Bags Sizeable Middle East Contract

Jul 14, 2021

Subsea equipment and installation firm Subsea 7 said Wednesday it had secured a sizeable contract in the Middle East. Subsea 7 defines a sizeable contract as being between USD 50 million and USD 150 million.The scope of work, for an unnamed client…

Chinese Seismic Giant Buys 18,000 Seabed Nodes from Sercel

Jul 12, 2021

CGG, a France-based provider of seismic data for oil and gas exploration, said Monday its subsidiary Sercel has recorded the first major sale of its recently launched GPR300 seabed nodal solution.Sercel sold the nodes to BGP, a China-based international geophysical services provider…

Japanese Energy Firms, UAE's ADNOC to Explore Feasibility of Ammonia Production in UAE

Jul 08, 2021

Japan's Inpex Corp, JERA, and Japan Oil, Gas and Metals National Corp (JOGMEC) said on Thursday they had agreed with Abu Dhabi National Oil Company (ADNOC) to explore the feasibility of producing ammonia in the United Arab Emirates (UAE).Inpex…

Valaris Clinches Jack-up Rig Deal in Saudi Arabia

Jul 07, 2021

Offshore drilling firm Valaris has won a contract extension with Aramco in Saudi Arabia for one of its standard-duty modern jackup drilling rigs.The Saudi national oil company has elected to extend the charter of the VALARIS JU-140 jack-up by 183 days…

GMS Nets Deals for Jack-up Trio. CEO Says Market Improving, as Whole Fleet Now Booked

Jun 30, 2021

Gulf Marine Services, a company providing self-propelled jack-up support vessels serving the offshore oil, gas, and renewables industries, said Wednesday it had secured three new contracts for its rigs, with a combined duration of 31 months…

Qatar Petroleum Hires Banks for Jumbo Bond Sale

Jun 28, 2021

Qatar Petroleum has hired a group of banks to arrange a four-tranche issuance of U.S. dollar-denominated bonds, a document showed, for what will be its debut public bond sale months after it signed a contract to boost its liquefied natural gas output…

Report: ADNOC to Deepen Crude Oil Term Supply Cut

Jun 28, 2021

Abu Dhabi National Oil Company (ADNOC) will reduce the volume of crude oil it supplies to Asian term buyers by 15% in September, according to six sources with direct knowledge of the matter.The cut was much deeper compared with a reduction of…

Drilling Starts at Block No. 1 Offshore Bahrain

Jun 24, 2021

Bahrain's National Oil and Gas Authority (NOGA) started drilling the first exploration well in offshore block No. 1 to the north of the kingdom, a government media adviser said on Twitter on Wednesday.The new well is part of an exploration and…

Gulf States Will Take a Decade to End Oil Dependence

Jun 21, 2021

Countries in the oil-exporting Gulf will remain heavily dependent on hydrocarbon production for at least the next ten years as efforts to diversify economies have made limited progress since the 2014-2015 oil price shock, Moody's said.Reliance…

Jailed Ex-Unaoil Exec Ordered to Pay Up Over Iraq Bribery Plot

Jun 18, 2021

A former senior executive of Monaco-based oil and gas consultancy, who was sentenced to jail over a bribery plot in post-occupation Iraq, has been ordered to pay 402,466 pounds ($560,000) by a London judge.The UK Serious Fraud Office (SFO), which prosecuted the case…

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