UAE ///

OPEC+ agrees to redistribute oil cuts under Saudi pressure

OPEC+ will adjust its output target and redistribute production cuts between its members under pressure from Saudi Arabia.

ADNOC, Honeywell embark on one of the industry’s largest predictive maintenance projects

Under the terms of a 10-year partnership agreement, ADNOC will utilize Honeywell’s state-of-the-art asset monitoring and predictive analytics platform to maximize asset efficiency and integrity across ADNOC’s upstream and downstream operations.

ADNOC launches program to significantly expand onshore, offshore rig fleets by 2025

"The program is a pivotal enabler of our plans to substantially increase drilling for conventional oil and gas as well as considerably ramp up the number of unconventional wells," said Abdulmunim Saif Al Kindy, ADNOC's upstream executive director.

Schlumberger to employ 1,000 Emiratis as part of ADNOC's In-Country Value program

Schlumberger signed a memorandum of understanding with ADNOC to support its In-Country Value (ICV) Program, which is designed to catalyze socio-economic development, improve knowledge-transfer and generate jobs for UAE nationals.

Qatar joins Gulf producers in oil-price formula overhaul

Qatar Petroleum is set to join most of its Persian Gulf counterparts and price its crude before loading instead of afterward from next year, according to people familiar with the plans. That

ADNOC and Total team up on drone-based seismic acquisition pilot program

The pilot project, performed with Total’s Multiphysics Exploration Technology Integrated System (METIS), uses autonomous drones and a ground vehicle to drop off and retrieve seismic sensors without human intervention.

ADNOC invests $489 million to upgrade Bab onshore field, sustaining long-term production capacity

The investment will re-energize ADNOC’s first field producing Murban grade crude to sustain long-term crude oil production capacity and reinforces ADNOC’s commitment to maximizing value from Abu Dhabi’s vast hydrocarbon resources as it delivers its 2030 smart growth strategy.

ADNOC to launch futures exchange for its Murban crude

Murban pricing will move from a retroactive official selling price to market-driven, forward pricing using a Murban futures contract as its price marker.

Tenaris taps Sandvik to deliver CRA OCTG in ADNOC supply agreement

The award includes a relevant portion of corrosion resistant alloy materials, which will be supplied by Sandvik as part of the Sandvik-Tenaris Alliance Agreement.

Sparrows doubles UAE operations after securing £55m in contracts

Sparrows Group has doubled the size of its operations in the UAE after securing contracts worth in excess of £55 million in the past three months. The awards have resulted in more than 150 new positions being created in the region.

Abu Dhabi plans its own price benchmark for a fifth of the world’s crude

Abu Dhabi will begin trading futures contracts of its flagship oil grade in what could eventually become a new price benchmark for a fifth of the world’s crude.

Churchill logs four successful drillsting severs in UAE with pre-placed tool

Churchill Drilling Tools announced four successful drill-string severs using its HyPR HoleSaver, following stuck pipe events across the Middle East, including two in the UAE.

ADNOC, LUKOIL sign cooperation agreement on UAE gas fields

The Ghasha mega-project is expected to produce over 1.5 Bcfd of natural gas by around 2025.

ADNOC links up with Russian Energy Agency to explore collaboration opportunities

Under the terms of the agreement, ADNOC and REA will jointly explore opportunities for collaboration in relation to Abu Dhabi’s exploration and production concessions.

UAE and Belize sign bilateral economic cooperation agreement

The agreement covers various major sectors, including trade of commodities and services, energy and renewable energy, industry and mining, among others.

Abu Dhabi seeks to shift oil markets with its own crude benchmark

Abu Dhabi wants to create a benchmark for Middle Eastern crude that competes for customers in Asia with exports from America’s shale boom. If the new contract for Murban crude takes off, it could herald a fundamental shift in the way Gulf producers sell oil.

ADNOC taps Weatherford for $220 million rotary steerables contract

Weatherford has signed a $220 million, three-year contract with ADNOC Offshore to provide directional drilling services for the stated goal of increasing offshore production in the UAE. The agreement entails using the Weatherford Magnus rotary steerable system in both re-entry wells and new wells.

ADNOC Drilling completes its first offshore Integrated Drilling Services well

ADNOC plans to grow its conventional drilling activity by 40% by 2025 and substantially ramp up the number of its unconventional wells, as it targets an increase in oil production capacity to 4 MMbpd by the end of 2020 and 5 MMbpd by 2030.

Petrofac lands maintenance contract for ADNOC's Al Dhafra Petroleum

Petrofac’s Engineering & Production Services division will provide managed maintenance services for ADNOC’s Al Dhafra Petroleum to support its operations at Haliba field, located onshore along the south-east border of Abu Dhabi.

ADNOC CEO, Russian energy minister meet to explore collaboration potential

Dr. Sultan Ahmed Al Jaber, UAE Minister of State and Group CEO of ADNOC and Alexander Novak, Minister of Energy of the Russian Federation met to explore potential opportunities for collaboration as ADNOC seeks to expand its strategic partnership and investment base across its entire value chain.