The new facility marks the Saudi-based oil and gas major’s entry into the UAE
Oil and gas industry
Latest in Oil and gas industry
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
AD Ports
AD Ports Group acquires 10 offshore vessels for $200mn
All 10 vessels are expected to be delivered in Q4 2023, with financial consolidation taking place from Q1 2024 onwards
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
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
ADIPEC
UAE holds talks with BP, Inpex to drive greater cooperation in lower carbon energy solutions
The meetings followed the 8th Abu Dhabi CEO Roundtable – which brought together 35 energy leaders from around the world – to discuss how to deliver energy security while providing equitable access to energy, and climate progress
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
Amin Nasser
Aramco boss slams oil and gas critics amid global energy transition
Policy makers and stakeholders should recognise that supply of conventional energy is still required over the long-term, the Aramco chief said
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
Abu Dhabi
Partnerships and IPOs are helping to transform Abu Dhabi’s oil giant ADNOC
Some big names have already brought in billion-dollar deals with the ‘possibility of partnerships at every turn’
Barakah Nuclear Energy Plant
Here’s how the Middle East can find the road to decarbonisation
The region has bold targets for net zero, but challenges remain if decarbonisation is to be realised
Alexander Klimburg
Aramco CEO joins global pledge to boost cyber resilience in the oil and gas industry
At the World Economic Forum, Aramco joined 18 companies that came together to take collective measures against cyberattacks
Abu Dhabi
Higher commodity prices, stable utilities businesses boost TAQA’s net income to $544.5mn in Q1 2022
The consolidated financial results for the first quarter of 2022 highlighted a 20 percent increase in group revenues of AED 12.4 billion, compared to the prior-year period