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Business Developments & Projects

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Illustration; Source: ARO Drilling
Business Developments & Projects

Rig construction of third out of 20 planned newbuilds set in motion with ARO-IMI deal

As the ink dries on the contract between ARO Drilling and International Maritime Industries (IMI), it marks the opening of the construction chapter for a third in a series of 20 planned newbuild Saudi-operated and manufactured offshore jack-up rigs, which the offshore drilling player intends to depl

about 1 year ago
ACWA Power and Hysata enter hydrogen technology partnership
Business Developments & Projects

ACWA Power and Hysata enter hydrogen technology partnership

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ACWA Power and Hysata have signed an agreement for the delivery of commercial-scale demonstrations of Hysata’s electrolysis technology in Saudi Arabia.

about 1 year ago
Leviathan; Source: NewMed Energy
Business Developments & Projects

Gas expansion on Chevron’s Mediterranean agenda with subsea pipeline works due by year-end

After hitting the brakes on the planned activities at a giant natural gas field expansion project off the coast of Israel as a result of the Israel-Gaza war in the Middle East, Chevron Mediterranean, a subsidiary of the U.S.-headquartered Chevron, has penciled in the end of the works on a third subs

about 1 year ago
Valaris DS-12 drillship; Source: Valaris
Business Developments & Projects

BP hits oil & gas pay in Mediterranean Sea

UK-headquartered energy giant BP has found more oil and gas in the northern Mediterranean within the Egyptian Exclusive Economic Zone (EEZ).

about 1 year ago
Tamar platform; Source: Chevron
Business Developments & Projects

SOCAR coming aboard Chevron’s gas field offshore Israel

Chevron Mediterranean Limited, a subsidiary of the U.S.-headquartered oil major Chevron, is getting a new partner at its gas field off the coast of Israel, as Union Energy has decided to sell its stake to the State Oil Company of the Republic of Azerbaijan (SOCAR). SOCAR is continuing to implement i

about 1 year ago
Under $57.4M contract, Indian firm takes its diving support vessel to Middle East
Business Developments & Projects

Under $57.4M contract, Indian firm sends its diving support vessel to Middle East

India’s Seamec Limited has entered into a charter hire with a Saudi Arabian company under which its multipurpose diving support vessel (DSV) will be deployed in the Middle East. Seamec entered into a Bimco charter party with Safeen Al Behar Limited Company, Saudi Arabia, for the charter hire of Seam

about 1 year ago
Samsung E&A secures $1.7 billion deal to build UAE’s first methanol plant
Business Developments & Projects

Samsung E&A secures $1.7 billion deal to build UAE’s first methanol plant

TA’ZIZ awarded an engineering, procurement, and construction (EPC) contract worth $1.7 billion to Samsung E&A for UAE’s first methanol plant.

about 1 year ago
SEFE unites with ACWA Power to supply green hydrogen to Europe
Business Developments & Projects

SEFE unites with ACWA Power to supply green hydrogen to Europe

Germany’s Securing Energy for Europe (SEFE) has signed a memorandum of understanding (MoU) with Saudi Arabia’s ACWA Power for the production and supply of green hydrogen to Europe.

about 1 year ago
A tugboat
Business Developments & Projects

Svitzer bags long-term towage job at Oman’s LNG terminal

Svitzer has signed a contract with Oman LNG, a joint venture company between the Government of the Sultanate of Oman and seven global energy players, to provide towage services at a liquefied natural gas (LNG) terminal near the town of Sur, Oman.

about 1 year ago
Bahri-Petredec alliance to help meet Saudi Arabia’s LPG and ammonia shipping needs
Business Developments & Projects

Bahri-Petredec alliance to help meet Saudi Arabia’s LPG and ammonia shipping needs

Saudi Arabia’s national shipping carrier Bahri has formed a strategic partnership with gas carrier owner Petredec focused on meeting Saudi Arabia’s increasing LPG and ammonia shipping demands.

about 1 year ago
ACWA Power and Snam form green hydrogen and ammonia alliance
Business Developments & Projects

ACWA Power and Snam form green hydrogen and ammonia alliance

Saudi Arabia’s ACWA Power and Italy’s Snam have agreed to explore collaboration opportunities and joint investments in establishing an international green hydrogen supply chain.

about 1 year ago
fleet
Business Developments & Projects

UCL: Over a third of world fleet needs to embrace zero-emission tech or face ‘premature scrapping’

A rapid transition could lead to “premature scrapping” of over a third of the fleet, valued at over $400 billion, unless they undergo costly retrofits to remain competitive in the wake of new greenhouse gas (GHG) policies and wider energy transition, a new report shows.

about 1 year ago
A man and a woman sitting behind a desk
Business Developments & Projects

ADNOC inks $450 million LNG supply deal with JERA

JERA Global Markets, a trading subsidiary of Japan’s energy major JERA, has signed a liquefied natural gas (LNG) supply agreement with UAE’s ADNOC Gas and its subsidiaries.

about 1 year ago
Illustration; Source: Bureau Veritas
Business Developments & Projects

Workforce cuts on the rise: Oil & gas giants’ cost-saving quests fuel layoffs’ wave

Price volatility, rise in costs, climate change, energy transition agendas, rising power demand, and emerging technologies and innovations, including market evolution, automation, and progress in unleashing the benefits of artificial intelligence (AI), have also played their part in shrinking the jo

23 minutes read