Offshore Middle East News

Capricorn AGM Could Aid Alternative to NewMed Deal, says Palliser

Nov 30, 2022

Capricorn Energy's move to ask shareholders for permission to bolster its options for payouts could pave the way for an alternative to its planned merger with NewMed, top-three Capricorn shareholder Palliser told Reuters. Palliser is one of…

UAE Brings Forward Oil Output Capacity Expansion to 2027

Nov 29, 2022

The board of Abu Dhabi's ADNOC has endorsed plans to bring forward the company's five million barrel per day oil production capacity expansion to 2027, the company said in a statement on Monday. ADNOC's gas processing and LNG businesses will be consolidated to create ADNOC Gas…

Icon Offshore Sells Perisai Pacific 101 Jack-up Rig at Significant Profit

Nov 24, 2022

Malaysian offshore services provider Icon Offshore has completed the sale of its Perisai Pacific 101 jackup drilling rig to ADES.The 2014-built rig was sold to ADES for $85 million in cash and the disposal of the rig was completed on November 22…

ADNOC Drilling Takes Over First of Three Jack-up Rigs Originally Ordered by Borr Drilling

Nov 24, 2022

Singapore's Keppel Offshore & Marine has delivered the first of three newbuild jack-up drilling rigs to UAE-based ADNOC Drilling.The three rigs were part of a series of five rigs that Keppel FELS had been building for Borr Drilling. Keppel O&M…

Saudi Aramco Signs 59 Deals Worth $11B Under iktva Program. Global Oilfield Services Majors Among Suppliers

Nov 22, 2022

Saudi Arabian national oil company Saudi Aramco saod Tuedsay it had signed signed 59 corporate procurement agreements (CPAs) with 51 local and global manufacturers, including oilfield services majors Baker Hughes, Halliburton, SLB, and TechnipFMC…

Petrofac CEO to Step Down. McDermott Man Named as Replacement

Nov 22, 2022

Oilfield services provider Petrofac said on Tuesday that Sami Iskander would step down as chief executive officer at the end of March 2023 and be replaced by Tareq Kawash, a senior executive at energy firm McDermott. Iskander took the helm in…

ADNOC Drilling to Buy Three New Jack-up Rigs for $320M

Nov 21, 2022

UAE-based offshore drilling contractor ADNOC Drilling said Monday it had agreed to buy three 'brand new' premium offshore jack-up drilling rigs for $320 million, 'with further acquisitions in the pipeline.'The company said the rigs would meet…

Saudi Arabia's State Fund Hires Banks for IPO of ADES, Sources say

Nov 21, 2022

Saudi Arabia's sovereign wealth fund is planning an initial public offering (IPO) of oil and gas drilling firm ADES International in Riyadh next year that could fetch more than $1 billion, according to two sources who declined to be identified as the matter is not public…

Qatar Pens 27-year Deal with China as LNG Competition Heats Up

Nov 21, 2022

QatarEnergy has signed a 27-year deal to supply China's Sinopec with liquefied natural gas (LNG), the longest such LNG agreement so far as volatile markets drive buyers to seek long-term deals. Following Russia's invasion of Ukraine in February…

ADNOC L&S Acquires Zakher Marine International. Adds 24 Jack-ups, 38 OSVs to Fleet

Nov 17, 2022

ADNOC Logistics & Services, the shipping and maritime logistics arm of Abu Dhabi National Oil Company (ADNOC) has completed the acquisition of Zakher Marine International (ZMI), adding 24 jack-up barges and 38 offshore support vessels to its fleet…

Saipem Expands Jack-up Rig Fleet with Another CIMC Unit

Nov 16, 2022

Ocean Challenger, the asset management company owned by the Chinese offshore rig builder CIMC, said Wednesday it 'has tied new knots' with the Italian energy services firm Saipem to deploy the 300-foot jack-up rig Gulf Driller IV in the Middle East…

Prysmian Group to Install Subsea Power Cables for ADNOC's Artificial Offshore Island

Nov 15, 2022

Italy-based Prysmian Group, which makes and installs energy and telecom cable systems, has secured a €60 million (~$62,5 million) contract for laying submarine cables for the already secured Project Lighting HVDC 320 kV interconnection project in the UAE…

TotalEnergies, Eni to Start Drilling in Block 9 as Israel, Lebanon Strike Maritime Border Deal

Nov 15, 2022

French oil major TotalEnergies and its Italian partner Eni have signed a framework agreement with Israel to implement the agreement on the maritime boundary, which was reached between Israel and Lebanon on October 27, 2022.In Lebanon, TotalEnergies is the operator of the exploration Block 9…

Saipem Wins Offshore Drilling Contracts Worth $800M

Nov 15, 2022

Italian energy industry services firm Saipem said Wednesday it had secured new offshore drilling contracts, three in the Middle East and two in West Africa, worth around $800 million in total.  In the Middle East, two new contracts have been awarded for two high-specification jack-up drilling units…

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