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Business & Finance

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Illustration; Source: McDermott
Business & Finance

McDermott clinches over $1 billion EPCI job for ADNOC’s $6.2B giant gas project

U.S. offshore engineering and construction player McDermott has won an engineering, procurement, construction and installation (EPCI) assignment for a gas development project off the coast of the United Arab Emirates (UAE), enabling it to deliver one of the Middle East’s heaviest offshore topsides.

about 1 month ago
Illustration; Source: Arabian Drilling
Business & Finance

All Arabian Drilling’s offshore rigs set to return to work by quarter-end

Arabian Drilling, said to be Saudi Arabia’s largest onshore and offshore drilling contractor by fleet size, has been cleared to bring its remaining suspended offshore rigs back into operation, putting its offshore fleet on track to reach 100% utilization by the end of the third quarter of 2026.

about 1 month ago
Eco Wave Power: Increased power output from Israeli pilot during stronger waves
Business & Finance

Eco Wave Power: Increased power output from Israeli pilot during stronger waves

Eco Wave Power has reported increased electricity generation and higher peak power output during stronger wave conditions in April and May from its grid-connected wave energy power station in Israel. The EWP-EDF One wave energy project is a pilot-scale demonstration array, consisting of a limited nu

about 1 month ago
Illustration; Source: ADES
Business & Finance

Go-ahead for ADES to restart all suspended offshore rig ops as jack-up market remains tight

ADES Holding Company, an oil and gas drilling services provider that is part of Saudi Arabia-headquartered ADES Group, has secured the green light to restore all temporarily suspended offshore rig operations in Saudi Arabia, as offshore activity across the Gulf Cooperation Council (GCC) region conti

about 1 month ago
Singaporean firm gets to work with Subsea7 in Arabian Gulf
Business & Finance

Singaporean firm gets to work with Subsea7 in Arabian Gulf

Singapore’s offshore marine solutions company PACC Offshore Services Holdings (POSH) has won a contract with Subsea7 in the Arabian Gulf. The lump-sum contract for subsea diving and installation services was awarded by Subsea 7 Arabia Co., Ltd. and is scheduled for offshore execution in the third qu

about 1 month ago
Illustration; Source: Saipem
Business & Finance

Saipem wins $1.8 billion contract in Middle East

Italy’s engineering, drilling, and construction services company Saipem has secured a $1.8 billion contract in the Middle East covering offshore and subsea facilities. Saipem’s scope includes the engineering, procurement, construction and installation (EPCI) of offshore and subsea facilities. The co

about 1 month ago
Das Island; Courtesy of ADNOC Gas
Business & Finance

$13.2 billion gas project moves forward with ADNOC’s $8.2B EPC awards to Wison and Maire’s Tecnimont

Wison Engineering, part of Wison Group, and Italy’s Tecnimont, Maire’s company focused on integrated engineering & construction (IE&CS) business, have been hired to undertake engineering, procurement, and construction (EPC) activities for the second and third phases of a gas project being developed

about 1 month ago
Illustration; Source: KOIL Energy
Business & Finance

KOIL Energy Solutions sets up strategic alliance to fuel growth in Eastern Hemisphere

Houston-based subsea energy equipment and services specialist KOIL Energy Solutions has entered into a strategic alliance with Pipeline Network, a consultancy focused on the oil & gas pipeline services sector, with the aim of expanding its international presence, operational capabilities, and custom

about 2 months ago
Illustration; Source: ADNOC Drilling
Business & Finance

ADNOC, SLB roll out AI-powered tool across over 120 rigs to enhance drilling ops

United Arab Emirates-based energy heavyweight Abu Dhabi National Oil Company (ADNOC) and the U.S.-headquartered technology player SLB have deployed a platform running on artificial intelligence (AI) across a fleet of more than 120 rigs to cut downtime and improve drilling performance at onshore and

about 2 months ago
Ramform Tethys vessel; Source: TGS
Business & Finance

TGS to kick-start 100-day OBN project in Q4 2026

Norwegian energy data and intelligence company TGS has secured an ocean bottom node (OBE) contract in the Africa, Mediterranean, and Middle East (AMME) region. The company’s deepwater crew is expected to mobilize in the fourth quarter of the year for the project that has a duration of approximately

about 2 months ago
FPSO Energean Power works at the Karish field offshore Israel; Source: Energean
Business & Finance

Second FPSO oil train boosts Brent-linked production growth

London-based oil and gas player Energean has put into operation a second oil train on a floating production, storage, and offloading (FPSO) vessel deployed at a field off the coast of Israel.

about 2 months ago
Illustration; Source: ADNOC
Business & Finance

$6.2-billion FID enables ADNOC, TotalEnergies, Eni, and CNPC to unleash more gas

ADNOC Offshore, a subsidiary of Abu Dhabi National Oil Company (ADNOC), and its partners – France’s TotalEnergies, Italy’s Eni, and China National Petroleum Corporation (CNPC) – have unveiled a final investment decision (FID) for a development project in the Umm Shaif and Nasr offshore concession in

about 2 months ago
Oceaneering strengthens 20-year presence in Qatar with new five-year contract
Business & Finance

Oceaneering strengthens 20-year presence in Qatar with new five-year contract

Oceaneering International has won a five-year inspection and asset integrity services contract in Qatar, a country it has been operating in for more than 20 years. Awarded following a competitive tender process, the contract includes two optional one-year extensions and has been awarded to Oceaneeri

about 2 months ago
Following upgrades, two jack-up rigs kick off their new drilling gigs
Business & Finance

Rig trio to head back to work as Middle East conflict-induced suspensions end

Arabian Drilling, said to be Saudi Arabia’s largest onshore and offshore drilling company by fleet size, has been given the green light to return three rigs to their assignments, following temporary suspensions for some offshore rigs in the Arabian Gulf triggered by the conflict in the Middle East.

about 2 months ago
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