Indian Register of Shipping (IRClass), a classification society covering a range of shipping, offshore and industrial projects, has opened an office in Abu Dhabi. Abu Dhabi is the second office location for IRClass in the Middle East, following Dubai, and reflects the society’s strong commitment to
McDermott has secured a contract by Saudi Aramco for brownfield work in various fields offshore Saudi Arabia. The U.S. based company said that work on the contract was expected to be executed through the second quarter of 2018. The award follows the June 2015 signing of a second Long Term Agreement
Gulf Marine Services (GMS), a UAE-based provider of self-propelled self-elevating support vessels (SESVs), on Tuesday reported a rise in its 1H 2015 revenue. Namely, GMS’ revenue was $98.2 million, up from $90.7 million a year ago. The company’s net profit also rose to $35 million, up from $33.1 mil
Wood Group Intetech (WGI), an asset integrity specialist serving the global oil and gas industry, has been awarded 11 new contracts worth $1 million. According to the company, the agreements include the provision of well integrity software and consultancy services, and span the Americas, Europe and
By Guy Faulconbridge TEHRAN (Reuters) – Royal Dutch Shell <RDSa.L> will repay a $2 billion (1.3 billion pounds) debt to the National Iranian Oil Company (NIOC) when sanctions on Iran are lifted and will consider investing in the country’s vast energy sector, Shell’s boss for new business said. Much
Douglas-Westwood, an energy intelligence group, has said in its DW Monday report that Saudi Arabia has been hit hard by low global crude prices, and that with a considerable budget deficit, Saudi has been forced to begin borrowing from capital markets – $4billion in July. DW has said that the kingdo
A French firm has offered to purchase associated gas from an offshore Iranian oilfield in the Persian Gulf to convert it into LNG, Iranian Oil Minister, Bijan Zangeneh has said. The proposition marks the foremost of its kind to Iran by a foreign company to use natural gas associated with oil product
Popular news, August 17 – 23, 2015
Emirates National Oil Company Ltd. (ENOC) is a month away from taking over the Irish-listed oil explorer and producer Dragon Oil. ENOC, which in July 2015, offered 750 pence per Dragon share, and on August 2, 2015, boosted it to 800 pence in cash for each Dragon Oil Share, now has 41.9 per cent [&
Iran has said it will launch Phases 15 and 16 of its South Pars gas field development in a little more than a month. The project director of Phases 15 and 16 at Pars Oil and Gas Company (POGC) said on Sunday that these Phases of the giant South Pars gas field will be launched by the […]
Amec Foster Wheeler has been awarded an extension to its existing Project Management Consultancy (PMC) contract for the UZ750 project in the Upper Zakum (UZ) field, located 84 kilometres north-west of Abu Dhabi. The value of the contract has not been announced. The contract was awarded by the Zakum
Oil prices fell to near six-year lows on Monday as Japan’s economy contracted and producers in the United States added drilling rigs for a fourth straight week despite a recent rout in prices.
The Cabinet of Israel has approved the outline to increase the quantity of natural gas produced at the Tamar natural gas field and to “rapidly develop” the Leviathan, Karish and Tanin natural gas fields. According to reports, the arrangement stipulates Noble Energy and Delek Group will commit to inv
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