The joint venture will look to tap Abu Dhabi’s staggering reserves of unconventional oil and gas
oil and gas exploration
Latest in oil and gas exploration
Egypt
Significant oil discovery announced in Egypt’s western desert
The Egyptian Ministry of Petroleum unveils new incentives to boost oil and gas production and exploration
Egypt
BP plans to inject $1.5bn in new investments for development, exploration activities in Egypt
The proposed investment plans are to maximise the benefit from the current facilitation on oil and gas exploration activities in land and sea areas
Egypt
Egypt plans to spend $1.8 billion drilling new oil wells in next two years
Minister of Petroleum and Mineral Resources says 35 new wells are to be drilled in association with leading international companies
Abu Dhabi
ADNOC Gas reports net income of $1.3bn in Q1 2023
The company’s net revenue in Q1 2023 declined to $5.2 billion from a pro forma adjusted revenue of $6.2 billion in the first quarter of last year
Abu Dhabi
ADNOC Drilling post strong numbers due to rig fleet, service expansion
CEO Al Seiari says company “firmly on track to deliver 2023 guidance” after Q1 revenue rises to $716 million and net profit to $219 million
Crescent Petroleum
Crescent Petroleum signs three contracts to develop oil and gas fields in Iraq
The agreement is for exploration and production of oil and gas from two blocks in Diyala governorate and one in Basra governorate
electric vehicles
India follows four-pronged strategy to navigate through global energy crisis
The country increased the number of its crude oil suppliers from 27 countries in 2007 to 39 countries in 2022 as demand for oil soared with the expansion of the economy, India’s petroleum minister said
ADNOC
ADNOC Drilling goes above guidance with new $1.6 billion contract
It covers ADNOC’s onshore and offshore fields and will see an additional $750 million above guidance added to Oil Field Services (OFS) revenue over the next five years
ADNOC
ADNOC drills the world’s longest oil and gas well stretching 50,000 feet
The well at Upper Zakum Concession is 800 feet longer than the previous record held by Russia’s Rosneft at the controversial Sakhalin-1 project in the Sea of Okhotsk
Abu Dhabi
ADNOC Drilling secures $980 million contract in a week
Contract worth $980 million to hire two jack-up rigs will boost ADNOC Offshore’s capacity amid growing demand for lower carbon intensity oil and gas
Dragon Oil
Dubai’s Dragon Oil renews contract in Turkmenistan in $1 billion deal
Under the deal, $500 million will be paid in cash, and the rest will be paid over the next 13 years
cash from operations
Why 2022 will see public exploration and production companies reporting record profits of $834 billion
The good times are set to get even better this year for public upstream operators, thanks to a perfect storm of factors pushing profits and cash flow to another record high in 2022, a Rystad Energy expert said
Abu Dhabi National Oil Company
ADNOC awards deals worth $658 million, creating jobs and spurring local manufacturing opportunities
More than 65 percent of the award value could flow back into the UAE economy, under ADNOC’s in-country value programme over the duration of the agreements
energy business
ExxonMobil reports biggest net profit in seven years as oil price surges
The oil giant generated $48 billion of cash flow from operating activities, the highest level since 2012
AB In Focus
AB Talks: How the future of the oil and gas industry depends on collaboration and innovation
Montri Rawanchaikul, CEO of Thailand’s PTT Exploration and Production Public Company Limited or PTTEP, joins AB Talks to discuss how partnerships are crucial for the energy industry to address energy transition challenges, and what technological advancements they will showcase at Expo 2020 Dubai during 30 Jan – 17 Feb 22 at Thailand Pavilion.
Dragon Oil
Dubai’s Dragon Oil plans production surge to 300,000 bpd by 2026
CEO Ali Rashid Al Jarwan said he expects a boost in revenues, driven by the global crude oil prices rise to $75 per barrel recently