OPEC will maintain its role as a key oil supplier through to 2040, although output from non-OPEC producers will help ensure adequate supply in the years to 2030, according to Wood Mackenzie.
SNC-Lavalin has signed a five-year framework agreement to provide international general engineering services to Al Khafji Joint Operations.
ROV services provider M2 Subsea has secured contracts worth more than £10 million ($13.2 million) over the past six months.
Offshore Drilling company Deep Drilling 1 has received a letter of award to deploy three offshore drilling rigs in the United Arab Emirates.
Qatar’s Gulf Drilling International and Norway’s Seadrill have reportedly signed an agreement for the utilization of the jack-up drilling rig “West Tucana.”
The Israeli Supreme Court has dismissed a petition against Energean regarding the company’s Karish-Tanin development.
Al Yasat, a subsidiary of ADNOC, has awarded an engineering, procurement and construction contract for the full development of the offshore Bu Haseer field to Abu Dhabi’s NPCC.
Offshore driller Shelf Drilling has entered into a definitive agreement to buy the Ocean Scepter jack-up drilling rig from Diamond Offshore.
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Since the fall in oil prices in 2014, oil majors and international oil companies (IOCs) have accelerated a shift towards resource themes and regions offering higher returns, lower complexity and shorter timeframes
OPEC oil ministers on Friday concluded their Vienna conference where it was decided that there would be an increase in oil production starting July 1, 2018. No firm numbers were given in OPEC’s press release released on Friday.
Greek oil company Energean will drill an exploration well in the Karish North prospect, offshore Israel, with a planned spud date before end-March 2019.
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As the OPEC meeting is underway in Vienna on Friday to discuss the path forward, the Norwegian energy intelligence group Rystad Energy has shared a list of five reasons in support of an output hike.
