Offshore Middle East News - page 5


Saudi PIF-backed ADES Prices IPO at Top End, Implying Over $4B Valuation

Sep 20, 2023

Saudi oil and gas driller ADES Holding said on Wednesday it has set the final price for its initial public offering (IPO), implying a valuation of 15.242 billion riyals ($4.06 billion) for the Saudi sovereign wealth fund-backed firm.Reuters…

Aramco, Exxon CEOs Push Back against Forecasts of Peak Oil Demand

Sep 19, 2023

The CEOs of top Saudi Arabian and U.S. oil producers Aramco and Exxon Mobil on Monday pushed back against forecasts that oil demand will peak, and said the transition to cleaner energy to fight climate change would require continuing investment in conventional oil and gas…

Qatargas Changes Name

Sep 14, 2023

Qatargas has changed its name to “QatarEnergy LNG,” to emphasize a future vision for Qatar’s liquefied natural gas (LNG) industry, QatarEnergy said Thursday.'With a new name and logo, “QatarEnergy LNG” will continue to deliver on its commitment to safety…

Oil and Gas Driller ADES Holding Starts Marketing IPO to Institutional Investors

Sep 11, 2023

Oil and gas driller ADES Holding, backed by Saudi Arabia's sovereign wealth fund, began marketing its initial public offering on Sunday, seeking 12.50 riyals to 13.50 riyals a share.ADES plans to raise as much as 4.57 billion riyals ($1.22 billion)…

Energean Trims Annual Production forecast after HY Profit Slumps

Sep 07, 2023

Mediterranean-focused oil and gas producer Energean reported a 41.2% slump in first-half profit, dented by higher tax expense, and also trimmed its full-year production forecast to 125,000-130,000 barrels of oil equivalent per day (boed).Energean…

Lebanon Grants License to Conduct Seismic Studies in Offshore Block 8

Aug 24, 2023

Lebanon on Thursday granted a license to conduct seismic studies on its offshore Block 8 to the companies Bright Skies and GeoX, caretaker energy minister Walid Fayad said.Lebanon hopes gas and oil discoveries will help it to reverse a crippling…

Seatrium Delivers New Jackup Rig to ADNOC Drilling

Aug 22, 2023

Singaporean shipbuilder Seatrium New Energy, formerly Keppel FELS, on Tuesday announced it has delivered a new jackup rig to the UAE's ADNOC Drilling.The rig, named AlSila, is among five that Seatrium had been building for Borr Drilling. In 2022…

Abu Dhabi's ADNOC Gas Signs 5-yr LNG Supply Deal with Japex

Aug 17, 2023

Abu Dhabi's ADNOC Gas said on Thursday it had signed a five-year deal to supply liquefied natural gas (LNG) to Japan Petroleum Exploration Co (Japex). The deal is valued at between $450 million to $550 million, ADNOC Gas said, without providing LNG volumes or timing for the shipments start…

Offshore Drilling Rig Arrives in Lebanon’s Block 9 to Start Exploration

Aug 16, 2023

A drilling rig [the Transocean Barents] arrived in Lebanon’s Block 9 on Wednesday to begin oil and gas exploration, public works and transport minister Ali Hamie said in a post on social media platform X, formerly known as Twitter.The start…

Iran Says Oil Exports Surpass 1.4 Million BPD Target

Aug 14, 2023

Iran's oil exports have surpassed the government's 1.4 million barrels per day target, the head of Iran's Plan and Budget Organisation said on Sunday, according to the semi-official Tasnim news agency. 'Based on Iran's current budget, the government aims at exporting 1…

First Crew Boat for Nakilat Svitzer Wijsmuller Launched

Aug 08, 2023

Al Yamama, the first of three new Incat Crowther 33 crew boats designed for Nakilat Svitzer Wijsmuller (NSW), has been officially launched in Singapore by shipbuilder Lita Ocean.NSW Al Yamama, with its homeport of Doha, will serve as wellhead maintenance vessels for QatarEnergy in the Middle East…

Aramco Supplies Remain Adequate Despite Oil Output Cuts - CEO

Aug 07, 2023

Saudi Aramco's CEO Amin Nasser said on Monday that the company's supplies to customers remain adequate even with recent voluntary oil production cuts by the kingdom, adding that global demand remained resilient despite economic headwinds.Saudi…

Iran Invites Kuwait's Foreign Minister to Tehran amid Offshore Gas Field Tensions

Aug 04, 2023

Iran's foreign minister has invited his Kuwaiti counterpart to Tehran, Kuwait said on Thursday, as tensions simmer over the offshore Durra gas field.Saudi Arabia and Kuwait claim exclusive joint rights to the field while Iran also claims a stake and says a Saudi-Kuwaiti agreement to develop it…

India's GAIL Close to Finalizing Qatar LNG Purchase Deal

Aug 03, 2023

GAIL (India) Ltd is close to finalizing a long-term liquefied natural gas (LNG) import deal with Qatar to buy at least 1 million metric tons per year, potentially for more than 20 years, three industry and trade sources said.The deal would be…

Saudi Arabia and Kuwait Assert Joint Ownership of Offshore Gas Field. Urge Iran to Engage in Talks

Aug 03, 2023

Saudi Arabia and Kuwait reaffirmed that they jointly own rights to natural resources in the Gulf's Durra gas field, Saudi state news agency SPA reported early on Thursday, citing a statement from the Saudi foreign ministry.The foreign ministry…

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