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Oil Review Middle East weekly digest - 20th - 24th August

Event News

Here is a brief overview of the week’s news on Oil Review Middle East, from Here is a brief overview of the week’s news on Health Safety and Security Review Middle East, from 13th August - 17th August 2017

Middle East LNG demand remains brisk 

The Middle East (including Algeria, Egypt and Libya) holds almost half of global gas reserves, mostly untapped, yet the volume of LNG imports into the region is rapidly rising as domestic demand exceeds piped gas supply, says economist Moin Siddiqi. Click here to read the full story. 

Petrotechnics launch Operational Excellence Index 2017 for oil global trends market 

Petrotechnics, the developer of the world’s first software platform for operational excellence (OE), has launched the OE Index (OEI) 2017. Click here to read the full story. 

World’s top CEOs to join in ADIPEC’s global business leader conference  

The Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC) will be organised at Abu Dhabi National Exhibition Centre from 13-16 November 2017, featuring open-invite conference sessions by the oil and gas industry’s influential leaders and enabling professionals to do business and grow in the region. Click here to read the full story. 

Halliburton and Microsoft join to digitally transform the oil and gas industry 

Microsoft and Halliburton has announced plans to enter into a strategic alliance to drive digital transformation across the oil and gas industry. Click here to read the full story. 

Saipem wins US$850mn pipeline contract in Kuwait’s Al Zour oil refinery 

Italian engineering company Saipem has received a contract worth US$850mn from Kuwait Oil Company (KOC) to build 450km pipeline system for the new Al Zour refinery located in the south of Kuwait. Click here to read the full story.

Total acquires Maersk Oil for US$7.45bn in a share and debt transaction 

Total has announced that the Boards of Total and A.P. Møller – Mærsk have both approved the acquisition of 100 per cent of the equity of the E&P company Maersk Oil & Gas A/S (Maersk Oil), a wholly owned subsidiary of A.P. Møller – Mærsk A/S, by Total in a  share and debt transaction. Click here to read the full story.  

Oil drives Saudi’s fiscal deficit lower in H1 2017 

Last week, Saudi Arabia’s (A1 stable) Ministry of Finance released its second-quarter budget performance report. Click here to read the full story. 

KBR awarded PMC contract for Dalma and H&G islands projects for ADNOC 

KBR, Inc. announced that it has been awarded a Project Management Consultancy (PMC) contract by Occidental of Abu Dhabi Ltd. on behalf of Abu Dhabi National Oil Company (ADNOC) for management of the Front End Engineering and Design Services (FEED) phase of the Dalma Gas Field Development and the Detailed Design and Surveys phase of the Hail & Ghasha Islands project in Abu Dhabi , United Arab Emirates. Click here to read the full story.  

Africa Re faces losses in South Africa and Middle East in H1 2017 

African Reinsurance Corporation (Africa Re) has announced that the losses in South Africa and in the Middle East pushed down the company’s net profit to US$7.6mn in the first half of 2017 from US$32.6mn in the same period in 2016. 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)

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)

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

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)