MENA ///

ADNOC to invest $1.4 billion to upgrade Bu Hasa Field

he Abu Dhabi National Oil Company (ADNOC) has announced a $1.4 billion investment to upgrade and expand its Bu Hasa field, which will increase crude oil production capacity to 650,000 bpd.

ADNOC to extend long-term gas supply agreement for LNG production

The Abu Dhabi National Oil Company (ADNOC) has agreed, in principle, to extend to 2040 its gas supply agreement with ADNOC LNG, in coordination with ADNOC LNG’s joint venture partners, Mitsui, BP and Total. The new gas supply agreement is scheduled to take effect from April 1, 2019, replacing an existing agreement, due to expire on March 31, 2019.

OPEC will cut output as required to stabilize market

OPEC will cut or adjust production as needed to balance the market, the group’s president, UAE Energy Minister Suhail Al Mazrouei, said Wednesday.

Unique Group and Innovo complete decommissioning project in the Middle East

Unique Group, one of the world’s leading integrated subsea and offshore solution providers, together with Innovo, an engineering, construction and equipment rental company, have successfully completed a multi-million dollar decommissioning contract for Italian global marine, oil and gas contractor, Saipem, on a key offshore platform in the Middle East region.

The Israeli Energy Minister announces Israel’s 2nd offshore bid round

Israel has announced the launching of its second bid round to grant exploration licenses for natural gas and oil in Israel’s economic waters, in the Eastern Mediterranean

Paradigm Group expands with Offices in China and the Middle East

Paradigm Group, the global Dutch innovation and technology company, for the upstream oil and gas industry, has recently opened offices in both China and the Middle East to cater for an increase in international sales and service demand.

ADNOC signs ultra-sour gas concession with Eni

The Abu Dhabi government and the Abu Dhabi National Oil Company (ADNOC) have signed the first of a series of concession agreements with Italy’s multi-national oil and gas company, ENI, awarding it a 25% stake in its offshore ultra-sour gas mega project.

Wood awarded multimillion dollar contract extension for Upper Zakum project

Wood has secured a mult-imillion dollar contract extension from ADNOC Offshore, a subsidiary of Abu Dhabi National Oil Company (ADNOC), for services to the the UZ750 mega project offshore Abu Dhabi.

ADNOC signs framework agreement with Uzbekistan gas producer

ADNOC signed a framework agreement with Uzbekneftegaz, a joint stock company of Uzbekistan's oil and gas industry, under which ADNOC will provide strategic advice in relation to upstream and downstream operations.

OPEC sees demand for its crude declining as rivals surge

OPEC sees demand for its own crude falling even faster than expected in 2019 as a slowing global economy crimps demand and rival supplies surge.

ADNOC CEO says oil and gas industry a critical enabler of economic growth

The global oil and gas will be a critical enabler of economic growth in the 4th Industrial Age, according to His Excellency Dr. Sultan Ahmed Al Jaber, UAE minister of state and group CEO, ADNOC.

Oil halts record losing streak as Saudis advocate supply cuts

Oil climbed the most in 2 1/2 weeks, halting an unprecedented decline, as Saudi Arabia pledged to curb output and urged allied crude producers to follow suit.

Trump criticizes Saudi Arabia for plan to reduce oil production

President Donald Trump criticized Saudi Arabia’s announced plan to cut oil production on Monday, as tensions rose between the U.S. and its long-time Middle East ally.

ABB wins $79 million order for Bab onshore project in Abu Dhabi

ABB has been awarded an integrated automation, electrification and telecommunication order in second-quarter 2018, valued at $79 million, for the upgrade of the Bab Onshore Field in Abu Dhabi, by China Petroleum Engineering and Construction Corporation (CPECC)

ADNOC and Saudi Aramco sign natural gas and LNG agreement

ADNOC signed a framework agreement with Aramco to explore potential opportunities for collaboration in the natural gas and LNG sectors.

Rockhopper Exploration produces commercial volumes of oil from Bahariva formation

Rockhopper Exploration plc has provided the following operational and corporate update in relation to its Egyptian portfolio.

Wood secures $53 million of contracts supporting ADNOC Onshore

Wood has been awarded three new, call-off contracts totaling $53 million by ADNOC Onshore, a subsidiary of Abu Dhabi National Oil Company (ADNOC).

In OPEC heartland, billions spent to boost oil output

OPEC members are considering cutting production, but in the group’s Middle East heartland producers are spending billions to add output capacity for the long term.

Global oil and gas leaders discuss evolving energy landscape

Twenty-six of the world’s leading oil and gas sector leaders gathered in Abu Dhabi on Sunday, for a high-level industry forum focused on the evolving dynamics of the energy landscape, and the opportunities for hydrocarbon-produced energy to support global growth, today, and in the future.

OPEC, allies move closer to oil cuts as bear market adds urgency

OPEC and its allies started laying the groundwork to cut oil supply in 2019, reversing an almost year-long expansion, with Saudi Arabia reasserting its role as swing producer by announcing fewer shipments from next month.