The move follows expressions of interest by a consortium of Total, Exxon Mobil and Hellenic Petroleum for exploration in two sites off the island of Crete, and by Greece's Energean for a block in the Ionian Sea in western Greece.
In the current challenging market conditions, the importance of local contents cannot be overlooked. Local contents are not only human resources, but also material and any available resources that can contribute to enhancing quality and maintaining lower prices.
Under the patronage of HRH Prince Khalifa Bin Salman Al Khalifa, the Prime Minister, the Kingdom of Bahrain will host the 4th Middle East Process Engineering Conference & Exhibition (MEPEC), during 9-11 October 2017 at Bahrain's International Convention and Exhibition Centre.
Senaat – Abu Dhabi, one of the UAE’s largest industrial investment holding companies, said its subsidary - National Petroleum Construction Company (NPCC) - has been ranked 5th in the annual list of Top 30 engineering, procurement and construction companies in the energy sector in the Middle East and North Africa region, as compiled by Oil & Gas Middle East Magazine.
Kuwait joined the United Arab Emirates in promising to pump less oil after Saudi Arabia called on fellow OPEC producers to cut more supply to help curb the global glut.
Brent prices are likely to stay in the $50-55 range in the second half of 2017 and to average in the same range in 2018, said Barclays in its latest Oil Instant Insight. Despite the statements in the communiqué of the Opec/Non-Opec Joint Ministerial Monitoring Committee (JMMC) and Joint Technical Committee (JTC), balances still indicate a constructive market balance in the remainder of this year, it said.
The Gulf region, the world’s fastest growing demand centre for natural gas, will need to create greater incentives to drive investment in new gas supply by removing all government subsidies that fix domestic gas prices at very low levels, a Gulf Intelligence research paper notes.
The Abu Dhabi National Oil Company (ADNOC) has recently announced the expansion of its strategic partnership model, as well as the more active management of its portfolio of assets.
The drillers’ success boils down to two factors: a fleet of high-end harsh-environment units and willingness to accept lower rates
The offshore oil and gas supply chain wants to exploit opportunities in offshore wind, but how best to go about doing so? A recent report produced by BVG Associates for Norwegian Energy Partners tells you how.
Oil production is forecast to rise 2.1 per cent in 2018 fueling expansion of the economy
China’s three state-backed oil and gas titans are expected to post much improved interim results this week on the back of a rebound in energy prices thanks to faster global economic growth and supply cut backs by major producers.
The Dresser-Rand business, part of Siemens Power and Gas, will supply power generation equipment for two offshore projects in China.