MENA ///

Petrofac awarded contract for Khazzan phase 2 in Oman

Petrofac has been awarded a lump-sum contract worth approximately $800 million by BP for the Phase 2 central processing facility (CPF) at the Khazzan Phase 2 (Ghazeer) gas development in the Sultanate of Oman.

SDX Energy reports gas discovery on Sebou permit, in Morocco

SDX Energy Inc., the North Africa focused oil and gas company, is pleased to announce that a gas discovery has been made at its KSR-16 development well on the Sebou permit in Morocco (SDX, 75% Working Interest).

Kuwait says global oil cuts can halt if market balances by June

OPEC and its global allies including Russia may end their production cuts before 2019 if the crude market re-balances by June, Kuwait’s oil minister said.

DNO triples production from Peshkabir field in Kurdistan

DNO ASA, the Norwegian oil and gas operator, today announced a tripling of production from Peshkabir field in the Tawke license in the Kurdistan region of Iraq to 15,000 bopd following completion of the Peshkabir-3 well testing, stimulation and cleanup program.

Egypt sees pilot production at Eni's Zohr gas field in just days

Pilot production at Egypt’s Eni SpA-operated Zohr natural gas field will begin “in the coming few days,” the oil ministry said, as the country nears its goal of commercial output from the biggest gas discovery in the Mediterranean Sea by the end of this year.

OPEC's surprise oil deal with Libya seen as empty gesture

OPEC appeared to score a diplomatic coup last week by persuading Libya, its most troubled member, to accept production limits. In reality, the agreement probably means little for the oil market.

OPEC's surprise oil-output deal with Libya seen as empty gesture

OPEC appeared to score a diplomatic coup last week by persuading Libya, its most troubled member, to accept production limits. In reality, the agreement probably means little for the oil market.

DEA, Sonatrach strengthen cooperation with MoU in Algeria

DEA Deutsche Erdoel AG and the Algerian state company Sonatrach have signed a Memorandum of Understanding (MoU). The MoU aims at strengthening the cooperation between the two companies and defines the framework for DEA's potential participation in additional upstream projects in Algeria.

Libya said to keep oil output stable, in line with OPEC deal

Libya, which has been stepping up efforts to boost oil output, will maintain its current production level until the end of next year to stay in line with OPEC’s agreement to trim global supplies.

Saudi oil minister says cuts to stay until market balanced

OPEC and its allies outside the group will maintain their cuts in oil output until global production meets demand, Saudi Arabia’s Energy Minister Khalid Al-Falih said.

Saipem awarded $400-million E&C contract from Saudi Aramco

Saipem has been awarded a new E&C offshore contract by Saudi Aramco for engineering, procurement, construction (EPC) activities in Saudi Arabia, under the long-term agreement renewed in 2015 until 2021.

Another bullish shale forecast adds to confusion as OPEC gathers

Add another bullish forecast for U.S. oil to the pile of confusion confronting OPEC.

Oil holds near $64 as OPEC is said to agree nine-month extension

Brent held near $64 after OPEC agreed to extend production curbs to the end of next year, giving the market what it expected.

Wood, Saudi Aramco sign MoU supporting in-country opportunities

Wood has entered into a Memorandum of Understanding (MoU) with Saudi Aramco, signalling its continued commitment to creating and accelerating opportunities for local workforces in the Kingdom of Saudi Arabia.

OPEC-Russia deal faces one last hurdle: knowing how to stop

OPEC and Russia concur on two things: their oil production cuts are working and they should be extended deeper into next year.

Oil snoozes through Saudi-Iran spat, imminent OPEC meeting

With tensions between Saudi Arabia and Iran ratcheting up and OPEC about to announce its plans for global crude supply, investors would be forgiven for anticipating a few gyrations in oil prices. The opposite has happened: the market is the calmest it’s been for almost nine months.

Israel, Egypt government ministers said to discuss gas exports

Government ministers from Egypt and Israel held a call last week to discuss the potential sale of Israeli gas to Egypt, according to a person with direct knowledge of the matter.

Abu Dhabi's Adnoc to seek up to $2 billion with IPO of unit

Abu Dhabi National Oil Co. is seeking to raise as much as $2 billion from the initial public offering of its fuel-retailing unit in an IPO that could be the biggest in the United Arab Emirates in 10 years.

New gas turbine improves gas protection in dusty environments

Parker Hannifin recently announced the release of its new clearcurrent PRO SP+ cartridge filter at the ADIPEC show in Abu Dhabi.

WTI holds near $56/bbl after surging on Saudi cut-extension plea

Oil held near $56/bbl after surging the most in almost two weeks as Saudi Arabia’s energy minister said OPEC should announce an extension to supply cuts when it meets at the end of the month.