Saudi Arabian state-owned oil giant Aramco expects to pay $31 billion in dividends to the Saudi government and its shareholders despite reporting lower earnings for the first quarter on Tuesday, hit by lower oil prices and volumes sold.The Saudi government…
So far, the Israel-Hamas conflict has had limited impact on the global economy. However, an escalation to a direct war between Israel and Iran, could result in oil prices rising to $150 a barrel and global output cut by $1 trillion, according…
Saudi oil and gas drilling contractor ADES Holding has secured a contract from Suez Oil Company (SUCO) for a 21-month jack-up drilling work in the Gulf of Suez, offshore Egypt.The contract, whose firm term is valued at $42.9 million (SAR 161 million)…
Saudi oil and gas driller ADES Holding has secured a contract from major international oil company for one its jack-up drilling rigs, valued $93.3 million.ADES Holding received the letter of award for a one-year firm jack-up drilling contract in Qatar with three optional six-month extensions…
French energy giant TotalEnergies and Oman National Oil Company (OQ) have reached the final investment decision (FID) on the Marsa LNG project, which will feature an LNG plant completely powered by renewable energy that will produce LNG for use as a marine fuel for maritime transportation…
Six offshore drilling companies – Valaris, Borr Drilling, Shelf Drilling, ADES Holding, COSL, and Arabian Drilling – have received notices of suspension for the shared total of 18 drilling rigs, all believed to have come from Saudi state-owned oil giant Aramco…
Offshore drilling company Valaris, through its joint venture ARO Drilling, has received a notice of suspension from Aramco for its VALARIS 143 jack-up rig.The rig’s contract was previously scheduled to end in December 2024. The suspension notice…
Offshore drilling contractor Borr Drilling has received a notice of temporary suspension for its jack-up rig Arabia I, currently under contract with Saudi Aramco.The temporary suspension for Arabia I rig, currently operating offshore Saudi Arabia…
Oilfield procurement specialist Craig International has secured a contract with QatarEnergy LNG, underpinning the company’s growth in the Middle East.The scope of Craig International’s contract with QatarEnergy LNG covers sourcing and supplying products and services for maintenance…
Offshore drilling contractor Shelf Drilling has received a notice of suspension of operations of four jack-up rigs from a customer in the Middle East.The company said it is in active discussions with the customer to determine which rigs will be suspended and the exact timing of the suspensions…
Masirah Oil, a majority-owned subsidiary of Rex International, has started multi-well drilling program at Yumna field offshore Oman, using the Energy Emerger jack-up drilling rig.The spudding of the Yumna-5 well in at Yumna field in Block 50 concession started on March 28…
Abu Dhabi's national oil firm ADNOC has announced the start of crude oil production from its Belbazem offshore block, operated by Al Yasat Petroleum, a joint venture between ADNOC and China National Petroleum Corporation (CNPC).Located 120 kilometers northwest of Abu Dhabi city…
Italian energy industry engineering and construction firm Saipem has loaded out the first three topsides for QatarEnergy LNG’s North Field Production Sustainability (NFPS) gas project, located offshore the north-east coast of Qatar.The three topsides…
Gulf Marine Services (GMS), a provider of jack-up support vessels for the global energy industry, has signed the first of a two-phase contract for one of its vessels operating in the Middle East.GMS said it also received a Letter of Award, relating to the second phase of this four-year contract…
Abu Dhabi National Oil Company's (ADNOC) use of artificial intelligence generated $500 million of additional value last year, it said on Tuesday.The state oil giant said it had already integrated more than 30 AI tools across processes from field operations to corporate decision-making…