MENA ///

McDermott awarded substantial offshore EPCI contract in the Middle East

McDermott International, Inc. has announced a substantial* contract award from a Middle East customer for engineering, procurement, construction and installation (EPCI) services in the Arabian Gulf.

Companies in the news

Michele Cowart, World Oil

Equinor has, together with its partners Petoro, ExxonMobil and Total, proven gas and condensate in the Norwegian Sea Ragnfrid North (6406/2-9 S) exploration well, located ~12.43 mi (20 km) south of the Kristin platform in the Norwegian Sea.

Libya oil boss sees output gain with hope of BP pumping soon

Libya boosted crude production by a third after restarting its biggest field, and its top oil official sees further gains when companies like BP Plc invest and start pumping oil in the politically divided OPEC nation.

Reactive Downhole Tools strengthens position in Middle East

Reactive Downhole Tools, independent supplier of well completion solutions to the global oil and gas industry, has announced Niall Urquhart as V.P. Eastern Hemisphere, to support its growth plans for the regions.

ADNOC awards Japan's INPEX onshore exploration concession in block bid round

The Abu Dhabi National Oil Company (ADNOC) signed an agreement, awarding the exploration rights for Abu Dhabi Onshore Block 4 to Japan’s INPEX Corporation.

Oil market can weather zero Iranian exports

U.S. officials said the global oil market can withstand the removal of all Iranian crude exports this year, a conclusion that could be pivotal in the coming weeks as President Donald Trump weighs whether to end sanctions waivers granted to several nations.

Algeria's crisis clouds the future for OPEC oil cuts

Meet the exclusive group of oil producers that nobody wants to join.

Saudis urge OPEC+ to stick with oil cuts as job not yet done

OPEC and its allies have much work ahead to balance global oil markets and are prepared to do what’s necessary in the second half, Saudi Energy Minister Khalid Al-Falih said.

U.S. oil waivers that rocked market in 2018 coming back to focus

Uncertainty over U.S. waivers for buyers of Iranian oil is starting to grip the market again, under very different circumstances than when American sanctions were set to go into effect last year.

Egypt returns to LNG exports club seeking to sell cargoes

Egypt indicated it’s ready to rejoin the club of major exporters of liquefied natural gas, making its biggest offer to supply the market in at least five years.

Petrofac awarded $1-billion EPC project in Algeria

Petrofac has been awarded a contract worth around US$1 billion with Groupment Isarene, the joint operating group set up by Sonatrach, Petroceltic and Enel, for the Ain Tsila Development Project in Algeria.

Eni reports new gas discovery in the Nour prospect, offshore Egypt

Eni announces a new gas discovery under evaluation in the Nour exploration prospect located in the Nour North Sinai Concession, in the Eastern Egyptian Mediterranean, about 50 km north of the Sinai peninsula.

Saudis head to OPEC+ talks reluctant to do Trump's bidding

Four months ago, Saudi Arabia’s devotion to its decades-old oil partnership with the U.S. was stronger than ever.

CERA Week 2019 Day 2 - Leadership

During Day 2 of CERAWeek 2019, the leadership dialogue continued with Chevron Chairman of the Board and CEO Mike Wirth, who spoke to the crowd about Chevron’s goals in the Permian basin and Gulf of Mexico.

Oil rises as Saudis are said to continue with deeper supply cut

Oil rose as Saudi Arabia was said to extend deep supply cuts into April.

ADES, Vantage team up for deepwater drilling contract in Egypt

ADES International Holding PLC, a leading oil & gas drilling and production services provider in the Middle East and North Africa (MENA), is pleased to announce that it has entered, through its subsidiary ADES S.A.E., into a short-term exploration contract with Dana Gas for deepwater drilling services in the Egyptian Mediterranean basin.

Dana Gas, Crescent Petroleum to boost Khor Mor gas production 63% within two years

Pearl Petroleum Company Limited has signed a new 20-year Gas Sales Agreement (GSA) with the Kurdistan Regional Government to enable production and sales of an additional 250 MMscfd.

Libya's biggest oil field restarts, adding hurdle to OPEC cuts

Libya’s biggest oil field resumed production, adding another complication to OPEC’s effort to trim a global supply glut.

ADES completes acquisition of operations from Weatherford in Algeria

ADES International Holding PLC, an oil & gas drilling and production services provider in the Middle East and North Africa (MENA), is pleased to announce that it has completed the acquisition of four contracted onshore rigs from Weatherford International plc in Algeria.

Saudis hold firm on oil output cuts after Trump says "relax"

Saudi Arabia is leaning toward extending OPEC cuts into the second half of 2019, potentially pitting the group against U.S. President Donald Trump’s demand to keep prices down.