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Oil Review Middle East weekly digest - 11th - 15th June 2017

Event News

Here is a brief overview of the weeks new on Oil Review Middle East, from 11th - 15th June 2017

US to dominate global oilfield equipment rental market from 2017-2022 

In the recent report on oilfield equipment, the leading market research company Research and Markets declared that the global rental market of oilfield equipment is projected to grow at a CAGR of 3.87 per cent from 2017 to 2022, with reaching a market size worth US$20.55bn by 2022. Click here to read the full story.  

BP Statistical Review highlights Middle East oil production dominance 

The Middle East remained the world’s largest oil-producing region in 2016, according to BP’s newly released BP Statistical Review of World Energy 2017. Click here to read the full story.  

McDermott completes load-out and installation of the first jacket from Dammam fabrication yard 

McDermott International has celebrated a major milestone with the load-out and installation of the first jacket, fully fabricated by the Company at its recently opened Dammam fabrication yard in Saudi Arabia. Click here to read the full story.  

Petrofac wins five-year training contract with KOC 

Petrofac has agreed a five-year relationship with Kuwait Oil Company (KOC) for the provision of specialist technical training and competency development services. Click here to read the full story.  

Middle East and Africa oil and gas pipeline market is projected to reach US$10.8bn by 2022 

Research and Markets has announced the addition of the "Middle East & Africa Oil & Gas Pipeline Market By Application (Midstream, Downstream, Upstream), By Type (SAW, Seamless, ERW, Polyethylene & Composites), Competition Forecast and Opportunities, 2012-2022" report to their repertoire. Click here to read the full story.   

Honeywell's new logic controller reduces integration costs for industrial plants 

ControlEdge™ PLC provides powerful enhancements to integration with Experion®. Click here to read the full story.   

Weir Group acquires KOP Surface Products for US$114mn 

Weir Oil and Gas announced that it has acquired KOP Surface Products, Asia’s leading oil and gas technology provider, for US$114mn, with the acquisition expecting to be completed in the Q3 2017. Click here to read the full story.  

Oil companies submit technical surveys for development of Iran's Azadegan oilfield 

The chief executive officer of Iran's Petroleum Engineering and Development Company (PEDEC) said that Total, Inpex and Petronas have submitted findings and development proposals for the South Azadegan field in Iran. Click here to read the full story. 

UTEC AUVs set to support Saipem at Zohr offshore project in Egypt 

Italian oilfield contractor Saipem has contracted UTEC, a global survey company in subsea services group Acteon, to support Saipem’s operation for deepwater Zohr gas field development project in Egyptian sector of the Mediterranean sea. Click here to read the full story.  

Petrofac to provide engineering, procurement and construction management services for PDO 

Petrofac has secured a long-term Framework Agreement (FA) with Petroleum Development Oman (PDO) for the provision of engineering, procurement and construction management (EP+Cm) support services for major oil and gas projects. Click here to read the full story.  

The oil and gas industry has been increasingly adopting AI technology in recent years, and this trend is expected to continue in the coming years. (Image source: Adobe Stock)

SmartMaster can be used with a range of ABB and third-party instruments. (Image source: ABB)

Comparison of conventional workflow with DUG MP-FWI imaging. (Image source: DUG)

GAC Saudi Arabia has extensive operations at major ports in Saudi Arabia. (Image source: GAC Saudi Arabia)

The expansion is expected to increase the plant’s processing capacity from 2.5 to up to 4 billion standard cubic feet per day (bscfd). (Image source: Aramco)

ARO Drilling and IMI announce first Kingdom jack up rig (Image source: ARO)

Oman LNG signed various agreements with Shell Gas to secure its gas supply until 2034. (Image source: Adobe Stock)

Michael Monica, director sales, marketing and customer care at GPT Industries signs the agreement with Mohamed Altaf, sale manager, Abdulla Fouad Energy Services. (Image source: Alain Charles Publishing)

Amin H. Nasser, CEO of Aramco. (Image source: Aramco)

The system can activate notification and hazard mitigation equipment to notify workers and safeguard facilities. (Image source: MSA Safety)

The use of blockchain in the oil and gas sector is set to increase substantially. (Image source: Adobe Stock)

The new discoveries will bolster Aramco’s strategy to increase gas production by more than half over 2021 levels, through 2030. (Image source: Adobe Stock)

Tethys Oil is currently conducting final preparations ahead of the rig mobilisation for the drilling of the first exploration well on Block 58, Kunooz-1 in Fahd.

Source: SafeStart

The new technology is designed to address the challenging conditions in unconventional wells. (Image source: Adobe Stock)

The Ampelmann A-type enabling safe offshore access in the Middle East. (Image source: Ampelmann)

Aramco has produced the first unconventional tight gas from its South Ghawar operational area ahead of schedule. (Image source: Adobe Stock)

Tethys Oil is currently conducting final preparations ahead of the rig mobilisation for the drilling of the first exploration well on Block 58, Kunooz-1 in Fahd.

TotalEnergies and SONATRACH will develop gas resources in Algeria's north-east Timimoun region, (Image source: Adobe Stock).

By using analytics to augment and empower the workforce, pipeline operators can optimise operations and improve asset availability. (Image source: Adobe Stock)

The oil price is hovering around the US$90/bbl mark. (Image source: Adobe Stock)

The Craig International Qatar team. (Image source: Craig International)

The SuperFill II diverter reduces induced surge pressure. (Image source: Halliburton)

Among other services, KBR will offer proprietary equipment for NCIC's 1,200 metric tonnes per day ammonia plant. (Image source: Adobe Stock)

The expansion is expected to increase the plant’s processing capacity from 2.5 to up to 4 billion standard cubic feet per day (bscfd). (Image source: Aramco)

Comparison of conventional workflow with DUG MP-FWI imaging. (Image source: DUG)

ADNOC Gas recorded robust financial and operational results in 2023. (Image source: Adobe Stock)

Over 4,000 km of SoluForce pipe has been installed around the world. (Image source: SoluForce)

Block 56 is targeted for commercialisation in 2024. (Image source: Canva)

The programme will optimise asset lifecycle, enhance machinery performance and improve overall reliability. (Image source: Adobe Stock)

The use of blockchain in the oil and gas sector is set to increase substantially. (Image source: Adobe Stock)

Source: SafeStart

GAC Saudi Arabia has extensive operations at major ports in Saudi Arabia. (Image source: GAC Saudi Arabia)

The company is well positioned in 2024, with a reshaped and resilient business and a strong balance sheet. (Image source: Adobe Stock)

The vessel addresses the growing demand for accurate hydrographic data. (Image source: Fugro)

The virtual inhouse seismic processing centre will allow each of the decentralised business units of Wintershall Dea globally to collaborate efficiently and directly with DUG. (Image source: Adobe Stock)