The Egyptian Ministry of Petroleum unveils new incentives to boost oil and gas production and exploration
oil and gas drilling
Latest in oil and gas drilling
Abu Dhabi
Abu Dhabi’s Enersol increases stake in US-based Gordon to 67.2%
Enersol, a JV between ADNOC Drilling and Alpha Dhabi Holding, will acquire an additional equity stake of around 42.2%
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
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
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 awards $1.53 billion contract to ADNOC Drilling for expansion of offshore operations
The two-year contract covers the provision of 12 jack-up rigs and two island rigs and the associated integrated drilling services
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
Abu Dhabi National Oil Company
ADNOC awards contracts as it looks to boost production capacity
ADNOC has invested $763.7m (AED2.8 billion) in integrated rigless services across six of its artificial islands in the Upper Zakum and Satah Al Razboot (SARB) fields
Alexander Novak
Oil extends gains on US drilling slowdown, Saudi supply pledge
Crude has fallen around 18% from a peak in late April and volatility has jumped as deteriorating US-China trade relations cast a pall over the global growth outlook
global economy
Oil holds gain as US rigs data gives respite from trade gloom
Oil posted its biggest loss of the year last week – including a 5.7% drop on Thursday
Mohammed Al Qahtani
Saudi Aramco to spend $133bn on oil, gas drilling
The funds will be spent over the next decade, according to Saudi Aramco’s senior vice president for upstream
