Halliburton has signed a contract with Shell Iraq Petroleum Development to provide drilling services for sustained production at Shell’s Majnoon oil field in Southern Iraq.
Proserv has already secured new contracts worth more than $12 million so far this year and has revealed plans for further international growth with new bases in Saudi Arabia and India.
Saipem has been awarded new contracts and the extension of pre-existing agreements in the onshore drilling sector in Saudi Arabia, Morocco, Bolivia and Argentina for a total value of $240 million.
Egypt's gas market is poised to undergo profound changes in the next five years, and these could have an impact on the global LNG market, seeing Egypt position itself as a prominent seasonal player, research from global natural resources consultancy Wood Mackenzie shows.
Saudi Arabia says OPEC is on track to wrap up its production curbs by the middle of the year. That would leave its aim of clearing a global oil glut unfinished.
OPEC probably won’t need to extend a deal it reached with other crude producers to cut output, given the level of their compliance with the reductions and the outlook for an increase in global demand, Saudi Energy Minister Khalid Al-Falih said.
SNC-Lavalin Fayez Engineering (SLFE), an engineering consultancy partnership between SNC-Lavalin and Dr. Zuhair Fayez, has been awarded a five-year extension to its existing General Engineering Services Plus (GES+) contract with Saudi Aramco, with three one-year options to extend.
Saudi Arabia will consider renewing its pledge to cut crude output in six months and has already reduced production by more than its targeted level, Energy Minister Khalid Al-Falih said.
Crude oil at $50/bbl is too low for most producing countries, according to United Arab Emirates Energy Minister Suhail Al Mazrouei.
Saudi Arabia was said to cut February crude sales to China and southern Asian nations, while largely sparing countries including Japan and South Korea, as it curbs supply as part of a deal between OPEC and other producers.
Wood Group has secured a five-year, multi-million dollar framework agreement to continue to provide engineering and project management services to Saudi Aramco’s onshore capital programs in the Kingdom of Saudi Arabia.
DNO ASA, the Norwegian oil and gas operator, has announced that the Peshkabir-2 well currently drilling in the Kurdistan region of Iraq has discovered oil in the Cretaceous horizon in the southern flank of Peshkabir field.
Oil producers from Saudi Arabia to the United Arab Emirates are complying with production cuts promised last year to stabilize the market, Kuwait’s governor to the Organization of Petroleum Exporting Countries said.
Saudi Arabia is staying in the battle for market share by continuing to pump the type of oil that’s similar to rival U.S. and African supply, while fulfilling its promise to cut output by focusing curbs on other varieties.
Oil rose as Saudi Arabia was said to meet its pledged output cut this month and U.S. stockpiles fell the most in almost four months.
Saudi Arabia raised pricing for February oil sales to Asia and increased premiums for light grades to the U.S. as the world’s largest crude exporter prepares to reduce output to help counter a global oversupply.
Libya, the holder of Africa’s biggest crude reserves, is ramping up output from its biggest oil field again after two years of internal conflict, the latest reminder of just how vulnerable OPEC’s quest to clear a global crude glut might be.
Gulf Marine Services has secured a long-term contract for one of its mid-size class vessels.
Iran qualified 29 international oil companies to bid in upcoming tenders for crude and natural gas development projects as the Persian Gulf state seeks investment in energy.