Engineering consulting firm Ramboll has been appointed by the North Oil Company (NOC) to carry out a pre-FEED study for three new wellhead platforms at the gigantic Al-Shaheen field in the Arabian Gulf off Qatar. Al-Shaheen is the largest offshore oil field in Qatar, covering more than 40% of Qatar’
Israel’s Delek Drilling and Avner Oil Exploration, both subsidiaries of Delek Group, have completed the previously announced merger. The two companies on Wednesday received a merger certificate from the Registrar of Partnerships, thus fulfilling all the preconditions for the merger to take place. Th
Saudi Aramco has awarded a contract to Abu Dhabi’s National Petroleum Construction Company (NPCC) for four offshore platforms and associated subsea infrastructure for three offshore oilfields in Saudi Arabia. “These EPC contracts for Al Safaniya, Zuluf and Berri oilfields include engineering, procur
A joint venture between Euronav NV and International Seaways has signed a five-year deal for the service of the FSO Africa and FSO Asia on the Al-Shaheen field, off Qatar, with the North Oil Company (NOC). NOC, the future operator of the Al-Shaheen oil field, is a JV company, which is 70% owned by Q
OPEC’s net oil exports revenues in 2016 fell to $433 billion, or some 15 percent from $509 million in 2015. This is according to a report by the U.S. Energy Information Administration. EIA said the reason for the decline was mainly due to the fall in average annual crude oil prices during 2016, and
UAE-based Gulf Marine Services (GMS), a provider of self-propelled self-elevating support vessels (SESVs) serving the offshore oil, gas and renewable energy sectors, is looking to further boost its vessel utilization after achieving an increase during the first quarter of this year. Ahead of its ann
Singapore’s offshore vessel owner POSH has yet to resolve its dispute with Makamin Offshore in Saudi Arabia. POSH last year started legal action against Makamin, seeking $6.6 million owed for vessel charters. This claim was dismissed by Makamin, who then filed a counter lawsuit. More here: https://b
By Chen Aizhu BEIJING (Reuters) – Saudi Arabia and Russia, the world’s two top oil producers, agreed on Monday to extend oil output cuts for a further nine months until March 2018 to rein in a global crude glut, pushing up prices. The timing of the announcement ahead of OPEC’s next official meeting
The word “recovery” dominates most discussions about the offshore oil and gas industry these days – and has done so for over two years. But what does recovery actually mean? By David Carter Shinn There seems to be little doubt that a recovery in the rig market will happen one day, and from the [&h
The most popular articles of the week May 8 – 14, 2017.
By Alex Lawler LONDON (Reuters) – OPEC on Thursday sharply raised its forecast for oil supply from non-member countries in 2017 as higher prices encourage U.S. shale drillers to pump more, hampering OPEC efforts to clear a glut and support prices by cutting its output. In a monthly report, the Organ
Geophysical contractor Getech has received an extension of the deal for the provision of consultancy services to the Lebanese Petroleum Administration (LPA), in charge of managing the country’s petroleum sector. To remind, the Lebanese government re-launched its first offshore oil and gas licensing
Qatar Islamic Bank (QIB) has signed a $925 million financing facility with compatriot Gulf Drilling International Limited (GDI) to assist in the re-organization of the company’s debt. This new facility, based on Islamic finance principles, will also be used to further enhance GDI’s operational and f
Saudi Arabia’s energy minister Khalid Al-Falih said on Monday that oil markets were rebalancing after years of oversupply, but that he still expected an OPEC-led deal to cut output during the first half of the year to be extended to all of 2017.
