Gulf Capital, one of the leading and most active private equity firms in the Middle East, announced that it has invested in a significant majority stake of OCB Oilfield Services FZCO(“OCB”), the leading Oil & Gas crew supply and related logistics provider in the Middle East, South East Asia and Afri
Seatronics Ltd., an Acteon company, has appointed Jeff Holtom as regional manager in the Middle East. Based in Abu Dhabi, Holtom’s responsibilities at Seatronics Ltd. will include sales and marketing, overall Quality, Health, Safety and Environment (QHSE) responsibility and general and management of
The first phase of Iran’s Kish gas field with the aim of early production will come on stream next Iranian calendar year that begins 20 March, managing director of the National Iranian Oil Company (NIOC), Ahamd Qalebani announced. “The Kish gas field is one of the most important NIOC’s projects,” he
The global market for remotely operated vehicles (ROVs) in the oil & gas industry will reach a value of $2.46bn in 2013,according to a report published by Visiongain. The sector will experience strong growth over the forecast period as increasing expenditure in the deepwater and subsea construction
Israel’s Delek Drilling – L.P. and Avner Oil Exploration – L.P., yesterday signed the Production Sharing Contract which is originally dated October 24, 2008 (the “PSC”), granting exploration rights, appraisal, development and production of oil and/or gas in the territorial waters of the Republic of
Polarcus Limited, the UAE-based seismic survey specialist, announces the release of its fourth quarter and preliminary full year 2012 financial statements. The Company reported revenues of USD 140.4 million, up 34% from Q4 11; EBITDA of USD 56.6 million, up 82% from Q4 11; EBIT of USD 27.6 million,
Adira Energy Ltd. announces that it is suspending operations on the Gabriella License, offshore Israel. The company explained that “due to lack of funding and lack of reasonable expectation of funding by certain parties sufficient to pursue the current work program; lack of agreement among the licen
Lebanon has, for the first time, opened its potential offshore oil and gas reserves to foreign investors. In the following video Dr Carole Nakhle, talks to World Review about why Lebanon has chosen now to take this action. Dr Nakhle is an energy economist, based in London, UK, specialising in intern
Top News of The Week Feb 4 – 9, 2013
Drydocks World, the leading maritime services provider, after the naming ceremony held yesterday by OLT LNG Offshore Toscana, announced that the FSRU Toscana conversion project at the Dubai based shipyard, is going to be finalized. The Floating Storage and Re-gasification Unit is intended for a 20 y
Lamprell has received a new contract award from Dev Drilling Pte Limited, a company within the Jindal Group (“Jindal”), based in Singapore, for the construction and delivery of a completely outfitted and equipped, LeTourneau designed, self-elevating Mobile Offshore Drilling Platform of a Super 116E
Following a successful delivery of the EDC Neptune from UAE to Russia in 2012, Lamprell Energy has again selected Blue Water Shipping as their transport partner to deliver a LeTourneau S116E jack-up rig from their Hamriyah yard to Russia. “We selected Blue Water Shipping due to their competitive bid
Dana Gas PJSC, the Middle East’s leading regional private sector natural gas company, has announced its preliminary financial results for the year ended 31st December 2012: Dana Gas recorded net profit growth of 20% in 2012, increasing to US$ 165 million (AED 605 million) from US$ 138 million (AED 5
See below a video of the sinking of Pars Oil & Gas’ jacket, which last week hit the bottom of the Persian Gulf. Mehr reported that the jacket, which was being installed to support a natural gas platform, as a part of phase 13 of South Pars Project, plunged to a depth of 80 metres. […]
