Middle East
News
April 07, 2024
Brent crude rallied more than 2% to climb above $90 a barrel on Thursday after Israeli Prime Minister Benjamin Netanyahu vowed to retaliate to any attack from Iran, despite the United States urging Israel to protect civilians.
News
April 04, 2024
In March, Saudi Aramco announced plans to reduce capital investment by roughly $40 billion between 2024 and 2028. This was mostly due to the Kingdom’s decision to maintain productive capacity at 12 MMbpd. As part of the decision, Aramco has suspended 17 rigs to date, with a potential for additional releases in the near term.
News
April 03, 2024
The Yumna-5 well will be drilled at the crest of the structure to drain attic oil left un-swept by the current producers.
News
April 03, 2024
OPEC’s second-biggest producer pumped 4.17 MMbpd last month, 30,000 bpd less than in February. While that’s Iraq’s lowest output level this year, it’s still about 170,000 bbl more than pledged as the alliance curbs production to prop up the market.
News
April 01, 2024
In 2024, ADNOC Gas will continue enhancing operational efficiency and driving accelerated growth with a focus on decarbonization, digital transformation, and artificial intelligence (AI)-led technology innovation.
News
March 28, 2024
Libya holds Africa’s largest crude reserves, but over a decade of political strife has taken its toll. Production that reached almost 1.8 MMbpd in 2008 slumped to some 100,000 bpd following the killing of Moammar Al Qaddafi in 2011’s civil war. Volatile ever since, it’s currently at about 1.2 MMbpd.
News
March 27, 2024
Production capacity at the Belbazem offshore block is set to progressively ramp up to 45,000 bpd of light crude and 27 MMcfd of associated gas, contributing to ADNOC’s target of reaching 5 MMbpd by 2027.
News
March 21, 2024
The survey revealed a Messinian evaporite layer of variable thickness extends across most of the area. The survey is tied to the Kiwi-1 well, one of the few wells in this deepwater area, and primary targets are likely to be pre-salt Oligo-Miocene structures with clastic reservoirs.
News
March 19, 2024
ADNOC announced the signing of a 15-year Heads of Agreement (LNG agreement) with SEFE Marketing & Trading Singapore Pte Ltd., a subsidiary of Germany’s SEFE Securing Energy for Europe GmbH, for the delivery of 1 million metric tonnes per annum (MMtpa) of liquefied natural gas (LNG).
News
March 15, 2024
Iranian companies were granted $13 billion in contracts on Sunday to boost production from six oil fields by as much as 350,000 bpd. The flagship projects include the development of the giant Azadegan field, which has an estimated 32 Bboe reserves, and Azar, both of which are shared with Iraq along Iran’s western and southwestern borders.
News
March 13, 2024
The NewMed deal would have extended bp’s presence in the eastern Mediterranean while marking ADNOC’s first foray into the region. The two companies continue to work on other projects together, having last month said they would form a joint venture in Egypt focusing on natural gas.
News
March 10, 2024
The world’s biggest crude oil exporter is in “discussions with a number of entities in the U.S. and other regions, Chief Executive Officer Amin Nasser said on an earnings call with reporters. The company will focus on LNG internationally and look to use its gas output at home to produce blue hydrogen and power, he said.
Article
February 2024
Saudi Arabia suspends oil expansion as neighboring producers plan to raise output
News
March 05, 2024
In ADNOC’s upstream operations, AI applications play a central role in mapping subsurface resources, optimizing drilling, production activity and smarter reservoir management. This enables ADNOC to quickly and efficiently grow its production capacity and ensure the continued delivery of lower-carbon intensity energy to the world.
News
March 05, 2024
The MGS‐3 aims to expand the existing natural gas network in order to provide gas supply to various industrial consumers in the region. This expansion of the natural gas network is expected to enhance the ability to meet the growing energy demand in Saudi Arabia and replace liquid fuel burning, contributing to Saudi Arabia’s drive towards a diverse energy mix.
News
March 04, 2024
Shelf Drilling, Ltd. has secured a two-year contract extension for the Rig 141 jack-up rig in direct continuation of its current term with Gemsa Petroleum Company (“Gempetco”) for operations in the Gulf of Suez offshore Egypt.
News
March 01, 2024
The group’s production rose by 110,000 bpd to 26.68 MMbpd as the North African nation ramped up the Sharara field, which was closed earlier in the year due to protests. Iraq pared supplies slightly but, along with the United Arab Emirates, continued to pump above a new quota set at the start of the year.
News
February 28, 2024
The new spending will occur during the next three to four years, a bp spokesperson said in an emailed response to questions. bp will continue to hold about 70% of its existing interests in Egypt outside the joint venture with ADNOC.
News
February 27, 2024
The company has booked 15 Tcf of raw gas and 2 Bbbl of condensate as proven reserves at Jafurah. It now estimates that Jafurah contains a total resource of 229 Tcf of raw gas, alongside an estimated 75 Bbbl of condensate.
News
February 26, 2024
Shipments from the Wafa oil field, which produces 40,000 to 45,000 bpd, are back up after being halted on Sunday as guards at the facilities demanded better pay, according to a person familiar with the operations.
News
February 22, 2024
TAG Oil has now commenced drilling the T100 horizontal pay zone section, which is expected to take up to approximately three weeks to complete the drilling of the planned 1,000-meter horizontal section and run the completion technolo
