Saudi sovereign wealth fund invests in offshore service company
offshore
Latest in offshore
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
Abu Dhabi
AD Ports Group eyes Caspian Sea riches with its new Kazakhstan JV
The Abu Dhabi-based company owns 51 percent share; The joint venture looks to exploiting offshore and shipping opportunities in the oil-rich area
ADNOC
ADNOC Drilling to acquire two offshore jack-up drilling units for $200 million
The latest rig purchase adds to earlier deals for a total of nine rigs signed in 2022 and four rigs acquired in 2021
Abu Dhabi
ADNOC Drilling expands its record fleet of offshore jack-up rigs to 32
The ADX-listed company now has the largest fleet of offshore jack-up rigs after signing Sale and Purchase Agreement for two more for $140 million
Abu Dhabi
ADNOC Drilling wins $3.4 billion worth of contracts to boost crude oil production
The two 15-year contracts, valued at AED5.6 billion and AED7 billion, respectively, will help the increase crude oil production to five million barrels per day by 2030
Abu Dhabi Ports
Abu Dhabi Ports, National Marine Dredging Company sign agreement to form JV
The new venture will offer a portfolio comprising offshore surveys, trenching and dredging support services
Abu Dhabi
ADNOC awards oil, gas exploration deals to Italian, Thai firms
Eni, PTT Exploration and Production Public Company Limited to invest $230m in two Abu Dhabi offshore blocks
ADNOC
Augmented reality helping train oil workers for disasters, says Schneider Electric CEO
Schneider Electric CEO Jean-Pascal Tricoire said that augmented reality technology can help virtually prepare operators for leaks and fires at refineries and offshore platforms
Abu Dhabi
ADNOC awards $1.6bn deal to find new Abu Dhabi oil
Abu Dhabi National Oil Company awards contracts for the world’s largest 3D onshore and offshore seismic survey, covering an area up to 53,000 sq km
Egypt economy
Mubadala unit acquires 10% stake in offshore Egyptian gas field
Mubadala Petroleum completes acquisition from Italy’s Eni of the interest in the Shorouk concession in Egypt, which contains the giant Zohr gas field
ADNOC
Eni is said to win stakes in two Abu Dhabi oil concessions
Eni won a stake in the Lower Zakum crude deposit and the right to develop a separate area containing the Umm Shaif and Nasr fields
ADNOC
Abu Dhabi awards Spanish firm stake in offshore oil concession
The 40-year deal worth $1.5bn aims to double production at the emirate’s offshore fields of SARB and Umm Lulu
ADNOC
India wins piece of Abu Dhabi oil with stake in $6bn field
Adnoc will be able to tap demand in the world’s second-most populous nation
Crude exporter
Abu Dhabi seeks higher crude export revenue in $3bn refinery upgrade
Ugrade will allow ADNOC to switch to cheaper lower-quality alternatives from offshore fields
Abu Dhabi
UAE firm wins $327m offshore contract in India
National Petroleum Construction Company will build offshore infrastructure on west coast of India
Abu Dhabi
BP sends in big guns as majors jostle for Abu Dhabi oil riches
BP Chief Executive Officer Bob Dudley and Chief Financial Officer Brian Gilvary will attend this week’s Abu Dhabi International Petroleum Exhibition & Conference
