Article
May 2024
As it approaches its 20th anniversary, Stavanger-based Fishbones finds that its stimulation methods are increasingly a regular part of operators’ toolboxes, for improving oil and gas recovery with multi-fold increases in productivity. Various case studies confirm operators’ confidence in these methods.
News
May 27, 2024
Block also increased oil production to 151,184 bbls and gas production to 283 MMcf, resulting in an average daily production rate of 543 boed. Additionally, the company raised $2 million via a secured loan to undertake drilling operations on Project I and completed the Project IV farm-out, achieving a carried work program valued at over $3 million (gross).
News
May 27, 2024
The new target is part of ADNOC’s expanded In-Country Value (ICV) program which aims to drive an additional $49 billion back into the UAE economy by 2028. ADNOC’s previous 2027 target for local manufacturing of $19 billion worth of products was delivered ahead of schedule following the award of two contracts for metal pipes and valves worth $4.6 billion to local manufacturers.
News
May 26, 2024
Abu Dhabi National Oil Co.(ADNOC) is likely to reach its 5 MMbpd goal by the end of next year or early 2026, ahead of the 2027 goal the company had set, according to people with knowledge of the operations. The higher capacity will be a potential source of tension as OPEC and its allies deliberates new production quotas later this year.
News
May 21, 2024
The International Maritime Industries (IMI) already has signed offtake agreements totaling $10 billion over 10 years with partners Aramco and Bahri, for the delivery of 20 rigs and 52 vessels acquiring at least 75% of Bahri commercial vessel needs over the period from the shipyard.
News
May 20, 2024
The agreement will see Pasqal install, maintain, and operate a 200-qubit quantum computer, which is scheduled for deployment in the second half of 2025.
News
May 14, 2024
The company is looking at other drilling companies for potential acquisitions as it seeks to expand regionally in countries such as Kuwait and Oman, ADNOC's CFO said in an interview.
News
May 13, 2024
Patterson-UTI expects to hold a minority equity interest in Turnwell Industries LLC OPC, a company recently formed by ADNOC Drilling. Patterson-UTI expects that Schlumberger Middle East SA, a subsidiary of SLB, will also hold a minority equity interest in Turnwell.
News
May 13, 2024
QatarEnergy will acquire a 40% working interest in each of the “Cairo” and “Masry” Offshore Concession Agreements, which were awarded to ExxonMobil in January 2023 and cover an area of approximately 11,400 km2 in water depths of 2,000 to 3,000 m.
News
May 13, 2024
Spearheading unconventional energy drilling development within the Middle East region and securing the UAE’s unconventional energy needs and resources, ADNOC Drilling will leverage innovations in AI smart drilling design, completions engineering, and production solutions.
News
May 12, 2024
Asked if Iraq would agree to extend the production cuts, Oil Minister Hayyan Abdul Ghani told reporters, “No, I think Iraq has cut enough and will not agree to any other cut.” It wasn’t clear if he was referring to an extension or a deeper cut.
News
May 10, 2024
An initial contract was awarded in May 2023 to a consortium including SLB, Subsea Integration Alliance and Saipem for the engineering, procurement, construction and installation of the second development phase (2a) of the Sakarya natural gas field.
News
May 08, 2024
The Ruwais LNG plant is set to be the first LNG export facility in the Middle East and Africa region to run on clean power and will leverage the latest technologies and artificial intelligence (AI) tools to minimize emissions and drive efficiency.
News
May 07, 2024
ADNOC Gas is well-positioned to benefit from ADNOC’s planned expansion of oil production capacity to 5 MMbpd by 2027, which will contribute to an increase in associated gas production.
News
April 25, 2024
TAG Oil Ltd. has successfully pumped all twelve planned stages of its multistage hydraulic frac on its BED4-T100 ("T100") well location in Egypt.
News
April 23, 2024
Baker Hughes will supply 17 pipeline centrifugal compressors driven by state-of-the-art aeroderivative gas turbines for Aramco’s project. The new 4,000-km pipeline is vital to the Kingdom’s energy transition, with expectations to increase domestic gas distribution and contribute to a reduction of carbon emissions and oil consumption.
News
April 23, 2024
The fund projects Saudi oil production will reach 10 MMbpd in early 2025, from what’s now a near three-year low of 9 MMbbl. Saudi Arabia says its production capacity is around 12 MMbpd and it’s rarely pumped as low as today’s levels in the past decade.
News
April 23, 2024
The Ruwais project, which is currently fully owned by Adnoc, will have the capacity to export 9.6 million tons of LNG per year, more than doubling the UAE’s total output
News
April 22, 2024
The Marsa LNG project combines upstream gas production of 150 MMcfd with a 1 MMtpa capacity LNG liquefaction plant and a dedicated 300 MWp PV solar plant, positioning the site as one of the lowest GHG emissions intensity LNG plants ever built worldwide, with a GHG intensity below 3 kg CO2e/boe.
News
April 17, 2024
The idea of placing sanctions on importers of Iranian oil has been swiftly gaining momentum in Congress following the nation’s direct attack on Israel, and House and Senate leaders have been in discussions about how to move forward with legislation to do so.
News
April 14, 2024
Trading resumed at 6pm New York time on Sunday. The risk of a direct Iranian attack on Israel was already at least partly priced in — benchmark Brent crude, up 17% so far this year, passed $90 a bbl after the strike on Iran’s embassy.
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