MENA ///

Seatronics adds Teledyne RD Instruments products to its sales portfolio

ABERDEEN, United Kingdom -- Seatronics has partnered with Teledyne RD Instruments to sell its marine measurement and navigation products. Seatronics will sell Teledyne RD Instruments’ Acoustic Doppler Current Profilers (ADCPs) exclusively in Saudi Arabia, UAE, Qatar, Oman and Bahrain; and represent the company for Doppler Velocity Logs (DVLs) non-exclusively in Qatar, Saudi Arabia, Oman and Bahrain. Seatronics do Brasil Ltda will sell DVLs in Brazil on the same, non-exclusive basis.

Saudi Arabia tells OPEC it cut output 408,000 bpd in August

RIYADH, Saudi Arabia (Bloomberg) -- Saudi Arabia, the world’s biggest crude exporter, told OPEC that it cut production by 408,000 bpd in August, amid signs of a supply surplus that’s pushed prices to a 16-month low.

ABS to class first self-elevating unit built in Qatar

HOUSTON, Texas -- ABS, was selected by Nakilat-Keppel Offshore & Marine (N-KOM) to class the first self-elevating unit ever to be built in Qatar. The project also will be the first offshore newbuild project undertaken by the ASME and API accredited shipyard.

Occidental talks to Mubadala on $3 bn asset, PIW says

HOUSTON, Texas (Bloomberg) -- Occidental Petroleum Corp. is in talks to sell a $3 billion stake in a gas field to Abu Dhabi-owned Mubadala Development Co., Petroleum Intelligence Weekly reported, without saying where it got the information.

Lukoil ships first batch of compensation oil as part of West Qurna-2 project in Iraq

MOSCOW -- Sea Triumph, a tanker chartered by LITASCO (an international marketing subsidiary of OAO Lukoil), left the port of Basra in southern Iraq with a load of crude. This is the first batch of oil in reimbursement of the costs incurred by Lukoil as part of the West Qurna-2 project.

Oil Search temporarily suspends well in Kurdistan due to turmoil

PORT MORESBY, Papua New Guinea (Bloomberg) -- Oil Search Ltd. temporarily suspended a well in Iraqi Kurdistan after violence in the region disrupted its ability to get skilled technicians and equipment to the Taza oil project.

Taqa returns to second quarter profit as oil, gas revenue jumps

ABU DHABI (Bloomberg) -- Abu Dhabi National Energy Co., which produces power, crude oil and natural gas from Canada to North Africa, returned to profit in the second quarter, buoyed by a 47% increase in oil and gas revenue.

Petrofac awarded $700 mn gathering centre project in Kuwait

SAINT HELIER, Jersey -- Petrofac, has received an award notification for Kuwait Oil Company’s (KOC) gathering centre 29 (GC29) which is located approximately 70 km north of Kuwait City in the north of the country.

Penspen bags PMC contract from ADMA-OPCO for USCC project in UAE

LONDON -- Penspen has been awarded a contract to provide Abu Dhabi Marine Operation Company (ADMA OPCO) with Project Management Consultancy Services for Additional Gas Supply from USSC Project in the UAE. Under the terms of the contract, Penspen will project manage Technip/NPCC in its upgrade of the gas facilities at USSC to produce 200 more MMscfpd of gas.

Iraq gov't condemns Kurds for ‘illegal’ oil sale to Israel

BAGHDAD, Iraq (Bloomberg) -- Iraq’s government condemned the country’s semi-autonomous Kurdish authorities for “illegally” selling crude oil to Israel for the fourth time. The SCF Altai tanker carrying crude oil from the Kurdish region docked in Ashkelon, Israel, June 20, according to an emailed statement from the Iraqi Oil Ministry.

Brent oil falls to three-week low on OPEC; WTI discount slips

LONDON (Bloomberg) -- Brent crude dropped to the lowest level in almost three weeks as OPEC production climbed and Libya said an export terminal would reopen. The European benchmark’s premium to West Texas Intermediate oil narrowed.

Kuwait eyes Iran gas as energy trumps nuclear fears

TEHRAN, Iran (Bloomberg) -- Kuwait wants to buy natural gas from Iran, the second Persian Gulf country to announce plans to do so after Oman, showing that the lure of energy ties is overcoming concern about the Islamic republic’s nuclear program. The two countries will reach an agreement allowing for exports from Iran, Kuwaiti Oil Minister Ali Al-Omair told state-run Kuwait News Agency yesterday, June 1, after the first of two days of meetings between the two governments in Tehran.

Oman fights Saudi bid for Gulf Hegemony with Iran Pipeline plan

OMAN (Bloomberg) -- Oman’s plan to build a $1 bn natural-gas pipeline from Iran is the latest sign that Saudi Arabia is failing to bind its smaller Gulf neighbors into a tighter bloc united in hostility to the Islamic Republic.

LUX Assure strengthens Middle East ties

EDINGBURGH, United Kingdom -- Oil and gas asset integrity and corrosion management firm LUX Assure has grown its presence in the Middle East with the appointment of two regional agents as well as a new business development manager.

Abu Dhabi oil incumbents stand ‘good chance’ of winning renewals

PARIS (Bloomberg) -- The largest U.S. and European oil companies have a “good chance” of winning renewals for Abu Dhabi crude-oil concessions, according to United Arab Emirates Energy Minister Suhail Mohammed Al-Mazrouei. “Unless they aren’t aggressive in giving us value, I think they will have a very good chance,” the minister told reporters at an oil conference in Paris.

Technip wins Basra FEED contract for NGL Train 1

PARIS, France -- Technip, in partnership with China HuanQiu Contracting & Engineering (HQC), was awarded by Basra Gas Company (BGC), a front-end engineering design (FEED) contract for Ar Ratawi Natural Gas Liquids (NGL) train1 project at North Rumaila in Basra Province, Iraq.

Qatar said to leave group seeking Oxy Mideast stake

LOS ANGELES (Bloomberg) -- Qatar’s national oil company has dropped out of a group of state-backed investors seeking to buy a stake in Occidental Petroleum Corp.’s Middle East business amid a political dispute in the region, people with knowledge of the matter said.

UBS sticks by Ratio Oil Exploration on Leviathan gas-deal gains

HERZLIYA, Israel (Bloomberg) -- UBS AG is standing by its recommendation investors buy shares in Ratio Oil Exploration 1992 LP even after a delay in the proposed sale of a stake in Israel’s Leviathan gas field, the company’s most valuable asset.

Oxy's $8 bn deal stalled by Mideast political row

NEW ORLEANS (Bloomberg) -- Occidental Petroleum Corp., seeking to raise as much as $8 billion by selling a stake in its Middle East business, said a political dispute in the region is complicating plans to sell to a single investor group. The oil and gas producer may need to break up the assets and sell them to individual countries because political tensions have made it too complicated to win agreement for a single sale to a group made up of Oman, the United Arab Emirates and Qatar, CEO Steve Chazen told investors at the Howard Weil Energy Conference in New Orleans yesterday.

Petrofac awarded contract in Oman

ST HELIER, Jersey -- Petrofac has been awarded an Engineering and Procurement (EP) contract by Petroleum Development Oman (PDO) to provide services for its Rabab Harweel Integrated Project (RHIP) located in the Harweel Cluster of fields in the south of the Sultanate of Oman. The contract also includes Construction and Commissioning management support services with Petrofac providing full support to PDO during the construction and start-up phases of the integrated oil and sour gas facility.