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Hungary’s MOL Group has signed a memorandum of understanding (MoU) with Libya’s National Oil Corporation (NOC) for cooperation in hydrocarbons exploration, technological innovation and crude trading, as international interest in Libya hots up

The strategic partnership agreement sets out the framework for NOC and MOL to exchange information and jointly explore potential areas of cooperation. These include hydrocarbon exploration and production, technological and field development innovations, oilfield services opportunities in Libya, crude supply and trading activities.

"We recognise Libya’s oil and gas industry as a pillar of strength and expertise. I am sure that this new agreement will act as a catalyst for further expanding our international portfolio, creating clear mutual value for both companies and reinforcing the resilience of our region. From the perspective of security of supply and energy sovereignty, particularly for landlocked countries, diversification of sources is of crucial importance. Our cooperation also goes beyond business, as we have agreed to rebuild our educational, scientific, and university ties in order to learn as much as possible from each other. Such partnerships can also help Europe to find its own path to competitiveness, rather than switching between different forms of energy dependency,” – said Zsolt Hernádi, chairman and CEO of the MOL Group.

The agreement comes as MOL is looking to expand its international portfolio to maintain its strategy target of at least 90,000 barrels of oil equivalent/day production level over the next five years, recently signing cooperation agreements with the national oil company of Kazakhstan (KazMunayGas), the national oil company of Azerbaijan (SOCAR), and the national oil company of Türkiye (Turkish Petroleum). The company has oil and gas exploration and production assets in nine countries, with production in eight countries: in Croatia, Azerbaijan, Iraq, Kazakhstan, Russia, Pakistan, Egypt, and Hungary.

The agreement also reflects the hotting up of international interest in Libya. Chevron recently signed an MoU with NOC to evaluate exploration and development opportunities, while TotalEnergies has signed an agreement extending the Libya Waha Concessions up to 2050, paving the way for further investments. TGS has a global provider of energy data and intelligence, has just signed a Letter of Intent (LOI) with North Africa Geophysical Company, (NAGECO),a subsidiary of the NOC to advance high-quality subsurface data, supporting Libya’s upstream development through modern, fit-for-purpose data and technology solutions. Libya’s latest upstream licensing round launched in March 2025, the first in 18 years, has attracted more than 40 bids, signalling growing international interest in Libya’s largely untapped hydrocarbon potential.

QatarEnergy has awarded the engineering, procurement, and construction (EPC) contract for the onshore LNG plant of the North Field West (NFW) project to a joint venture consisting of Technip Energies, Consolidated Contractors Company (CCC) and Gulf Asia Contractor (GAC)

The scope of the onshore EPC contract includes two LNG mega-trains with a combined production capacity of 16 MTPA (a replication of the two trains under construction by Technip Energies and CCC for the North Field South (NFS) project) as well as associated facilities for gas treatment, natural gas liquids recovery, and helium extraction. In addition to LNG production, the project is expected to produce around 175,000 barrels of oil equivalent per day of condensate, ethane, and liquefied petroleum gas (LPG).

Together with the North Field East (NFE) and NFS expansion projects, the NFW project will increase Qatar’s total LNG export capacity from 77 MTPA to 142 MTPA. The first LNG cargo from the NFW project is expected to be produced by the end of 2031.

As with the North Field East (NFE) and North Field South (NFS) projects, NFW will capture and sequestrate an additional 1.1 MTPA of CO2 to bring the total to 2.2 MTPA from NFS and NFW combined.
In addition to the CCS facilities, the jetty boil-off gas recovery facilities for NFW will recover an equivalent of 0.42 MTPA of CO2, and a significant portion of the project’s electrical requirements will be sourced from Qatar’s solar plants.

His Excellency Mr. Saad Sherida Al-Kaabi, the Minister of State for Energy Affairs, the president and CEO of QatarEnergy said, “This contract represents an important addition to the world’s largest LNG expansion project and reinforces Qatar’s commitment to meeting the growing global LNG demand.

“The North Field West project follows in the footsteps of the North Field East (32 MTPA) and South (16 MTPA) projects, placing strong emphasis on environmental performance. Key features include a carbon capture and sequestration (CCS) capacity of 1.1 MTPA, which takes us closer towards achieving our target of capturing and sequestering more than 11 MTPA of CO2 by 2035."

Arnaud Pieton, CEO of Technip Energies, commented, “This award reflects not only the continuity of our engagement across the North Field developments, but also a crucial contribution to meeting growing global LNG demand. Building on our leadership in LNG and, together with our long-standing partners CCC and GAC, we are proud to continue delivering world-class LNG facilities that combine scale, efficiency, and significantly reduced carbon intensity.”

The world's largest single non-associated gas field, the North Field, spanning over 6,000 sq. km, represents 20% of the world's total gas reserves.

The recent LNG2026 conference in Qatar highlighted the pivotal role of LNG in the global economy. Speaking at the event, H.E. Saad Sherida Al-Kaabi reinforced Qatar’s leading position in the LNG industry, saying that Qatar’s projects will contribute around 40% of the new global LNG supplies over the next decade. QatarEnergy has invested in its fleet, which is set to reach around 200 vessels in the next few years, making it the largest LNG carrier fleet in the world.

He highlighted the importance of demand in driving the LNG industry, in particular from Asia, as well as the Middle East itself.

Shell forecasts that global demand for LNG will rise by around 60% by 2040, in its Shell LNG Outlook 2025. It expects LNG demand to reach 630-718mn tonnes a year by 2040, largely driven by economic growth in Asia, the need to decarbonise heavy industry and transport and the impact of energy-intense artificial intelligence.

Aramco, Honeywell and King Abdullah University of Science and Technology (KAUST) are collaborating to scale up the development of Crude-to-Chemicals (CTC) technology in a bid to maximise the value of crude oil and reduce costs associated with CTC conversion 

The new CTC pathway will entail converting crude oil directly into light olefins and other high-demand chemicals, resulting in improved fuel efficiency, carbon utilisation, and process economics—allowing for more efficient and cost-effective production at scale.

The collaboration aligns with Saudi Arabia’s Vision 2030 by helping to advance economic diversification, build national research and technology capabilities, and strengthen the Kingdom’s position in the global chemicals market, combining academia and industry expertise to accelerate technology development and national capabilities.

Dr. Ali A. Al-Meshari, Aramco senior vice president of technology oversight & coordination, said, “This collaboration with Honeywell UOP and KAUST furthers Aramco's efforts to drive innovation and shape the future of petrochemicals. By harnessing the power of cutting-edge technologies, we aim to enhance energy efficiency and unlock increased value from every barrel of crude. This novel Crude-to-Chemicals process is aligned with our vision of supporting the global transition towards cleaner, high-performance chemical production. Moreover, this initiative demonstrates our focus on contributing to the growth of a vibrant ecosystem, where the deployment of innovative technologies can create lasting value for our stakeholders, our communities, and the environment.”

Rajesh Gattupalli, Honeywell UOP president, added, “This agreement marks a defining moment in our strategic collaboration with Aramco and KAUST – and in the global evolution of Crude-to-Chemicals technology. With Honeywell UOP’s deep expertise in catalytic process design and commercial scale-up, we’re well positioned to drive this innovation forward.”

Viridien, an advanced technology and digital solutions company, is collaborating with NVIDIA to transform seismic imaging workflows

The collaboration will combine NVIDIA HPC platforms and Viridien’s expertise in subsurface imaging technologies and HPC and Cloud solutions. It will optimise Viridien’s seismic imaging algorithms on NVIDIA accelerated computing platforms, integrating advanced techniques such as tensor cores and mixed-precision computing, to deliver continued improvements in system performance, imaging accuracy, and operational efficiency for energy and geoscience clients worldwide.

John Josephakis, VP of HPC and Supercomputing, NVIDIA, said, “By combining NVIDIA accelerated computing platforms and AI with Viridien’s expertise in seismic imaging and HPC, together we are enabling subsurface teams to deliver sharper, more reliable images faster and more cost-effectively. Better imaging reduces uncertainty, improves prospect screening and well placement decisions, and ultimately lowers the cost of exploration by cutting dry hole risk and minimising the time and compute required to reach decision-grade results.”

Anil Vattalai, SVP, HPC & Cloud Solutions, Viridien, added, “We are delighted to work with NVIDIA to accelerate the evolution of HPC for seismic imaging. Viridien is the industry leader in subsurface imaging based on our pioneering expertise in industrial and customised end-to-end HPC and over fifteen years of experience in optimising complex scientific workflows on GPU accelerators. This agreement underscores our commitment to continuously improving our full HPC stack (hardware, software, and algorithms) to deliver advanced HPC and cloud solutions that empower our clients to achieve greater performance and higher-quality outcomes more efficiently.”

In the oil and gas industry, where every second counts and every decision impacts profitability and safety, robust security is not just a luxury – it's a necessity

From protecting critical assets to safeguarding human lives, security systems must meet the highest standards of reliability and performance.

Pelco, a leader in video security, is uniquely positioned to address the challenges faced by oil and gas companies in the Middle East, offering a fresh perspective on how to optimise security systems seamlessly. With our upcoming online event, we invite you to explore how Pelco can help tackle worker safety, asset protection and operational efficiency in this complex industry.

Addressing oil and gas challenges head-on

Oil and gas operations in the Middle East span harsh deserts, sprawling refineries and high-risk offshore environments. Physical, environmental and digital threats are converging, and security systems must evolve to meet these overlapping demands. Our upcoming online event will focus on three critical areas where Pelco's expertise can make a difference:

1. Improve worker safety and HSE compliance

Ensuring worker safety is both a moral responsibility and a regulatory imperative. Health, Safety and Environmental (HSE) compliance is a top priority for oil and gas operations. Pelco's advanced portfolio is designed to help you meet these standards.

Edge-based analytics and intelligent video security can be valuable tools in supporting site safety. These systems can help detect safety incidents, such as slips or falls, especially in areas where oily surfaces, heat or dust create additional hazards. When incidents occur in remote areas, automated detection can prompt faster intervention, thereby closing the gap between the event and the response.

Personal Protective Equipment (PPE) compliance is another key safety concern. High temperatures in the Middle East can lead to discomfort, and in some cases, workers may be tempted to remove protective gear, such as hard hats or vests, for temporary relief. In this case, AI-enabled video analytics can help identify instances of non-compliance, enabling safety teams to address the issue before it becomes a liability.

Zone-based behavioural analytics can help detect when someone enters a restricted or hazardous area or remains in a dangerous zone longer than necessary. For example, loitering detection near flare stacks or storage tanks can support situational awareness and proactive incident mitigation.

2. Improve security and asset protection

From refineries in the desert to offshore rigs in corrosive marine environments, your assets operate under pressure, so your security systems must withstand these harsh conditions. In areas where explosive gases or dust particles may be present, even basic equipment can pose risks. That’s why choosing video solutions built for hazardous environments is critical.

ExSite Enhanced cameras, featuring 316L stainless steel construction and certifications such as ATEX and IECEx, are designed for use in hazardous atmospheres. Whether it’s observing pipeline manifolds, wellheads or chemical storage areas, these systems deliver dependable performance in high-risk environments. In corrosive coastal locations, such as LNG terminals or offshore rigs, Pelco’s anti-corrosion models withstand salt spray, humidity and chemical exposure without compromising visibility.

For perimeter defence, long-range Silent Sentinel cameras give security teams early warning of approaching threats, detecting vehicles, vessels or drones from kilometres away in fog, darkness or dust. These systems are especially valuable for remote desert pipelines or unstaffed offshore installations, where rapid detection is critical to prevent disruptions.

3. Minimise downtime and maximise uptime

Every minute of downtime impacts revenue. For oil and gas operations, the cost of unplanned outages is measured in millions of dollars. With Pelco, your video security can become an operational asset.
Radiometric thermal cameras can detect overheating in transformers, compressors and electrical panels, allowing teams to take action before equipment failure occurs. At the same time, Pelco’s camera image health analytics help ensure your video infrastructure is always performing at its best. Our cameras automatically detect issues such as lens obstructions, misalignment or tampering, reducing the need for manual inspections and helping ensure your security coverage is always clear, optimised and ready when it matters most.

Join us to discover the Pelco advantage

We invite you to join our upcoming online event, where industry leaders and Pelco experts will dive deeper into these challenges and solutions. Together, we'll explore how Pelco can be the missing ingredient to supercharge your security and drive operational excellence in the Middle East oil and gas sector.

Don't miss this opportunity to gain actionable insights and position your operations for success. Register now and discover how Pelco can transform your approach to security.

Coinciding with COP30, significant progress has been reported in driving forward the aims of the Oil & Gas Decarbonization Charter (OGDC) launched at COP28

The Oil & Gas Decarbonization Charter (OGDC), a global coalition of leading energy companies championed by the CEOs of ADNOC, Aramco, and TotalEnergies and supported by the Oil and Gas Climate Initiative (OGCI), highlights expanded reporting coverage, strengthened action plans for emissions reduction and enhanced collaboration to accelerate industry decarbonisation in its 2025 Status Report: Implementing Action.

The Charter now brings together 55 signatories operating across more than 100 countries, representing around 40% of global oil production. Signatories invested approximately US$32bn in low-carbon solutions including renewables, carbon capture, hydrogen and low-carbon fuels in 2024.

This year, for the first time, the companies shared emissions data based on the OGCI Reporting Framework, laying the foundation for consistent reporting across 55 companies. 50 of the 55 signatories submitted data for this year’s report, covering 98% of OGDC operated production, most of which has received third-party assurance.

Forty-two signatories have now set interim Scope 1 and 2 emissions reductions ambitions for 2030, and 36 have developed corresponding action plans, reflecting tangible progress since the Charter’s 2024 Baseline Report, with six more companies sharing interim ambitions and seven more developing corresponding action plans on methane and flaring.

Extensive collaboration programme

An extensive collaboration programme is underway, with a focus on methane, flaring and reporting. TotalEnergies for example is sharing its AUSEA technology with several national oil companies to strengthen methane detection and measurement. Peer-to-peer exchanges, regional partnerships and technical workshops have strengthened capacities, while engagement with OGCI, the United Nations Environment Programme, the World Bank and many others, are helping scale practical solutions. At the company level, OGDC is helping to embed tailored, industry-specific training programmes.

Dr Sultan Ahmed Al Jaber, managing director, Group CEO of ADNOC, COP28 president and OGDC CEO Champion, said, “Two years ago, at COP28 we came together to create the world’s first truly industry-wide coalition to decarbonise at scale. Together, we are turning the Charter’s words into action by delivering tangible progress, scaling innovation and reporting transparently against our shared commitments.”

Patrick Pouyanné, chairman and CEO of TotalEnergies and OGDC CEO Champion, added, “OGDC is about action and collective delivery. This year we moved from baseline to implementation, with almost all signatories reporting data that covers 98% of operated production and more companies setting 2030 targets backed by plans. This reflects that progress starts with what we measure and a shared reality that this is a journey where we advance faster together. Our focus now is clear. We must cut methane, end routine flaring and report progress consistently. We invite all IOCs and NOCs to join and show measurable results by the next COP.”

Bjørn Otto Sverdrup, head of the OGDC Secretariat, said, “With OGDC, we have established a platform for companies willing to take action and collaborate across North, South, East, West, to share best practices and accelerate decarbonisation – particularly towards reducing methane and zero flaring by 2030.”

“We are encouraged by the progress made, and we look forward to the work ahead.”

At COP30, TotalEnergies announced a US$100mn commitment to Climate Investments Venture Strategy funds, which supports technologies that cut emissions across the oil and gas value chain. Climate Investments (CI) is an OGDC Partner.