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Libya’s National Oil Company (NOC) has reported three new discoveries

Firstly, the NOC and Eni North Africa, the operator of Contract 4/16, have made a new discovery in offshore western LIbya, around 95 km from the coast, following successful drilling of the exploration well J1-4/16.

Drilling was completed to a final depth of 10,458 feet. Tests of the Metlawi reservoir produced flow rates across two tests: 14 million cubic feet per day (MMcf/d) through a 32/64-inch choke in the first test, and 24 MMcf/d through a 62/64-inch choke in the second.

This well is the final one in fulfilling nine contractual obligations for offshore Contract Block D, as stipulated in the agreement signed in June 2008.

The NOC and Repsol Libya Branch (REMSA) have reported a new oil discovery following the drilling of the exploratory well “J1-4/130” in Contract Area “131/130” in the Murzuq Basin, around 800 km south of Tripoli. The well reached a final depth of 4,325 feet and is producing an average of 763 barrels of oil per day from the Mummiyat Formation.

This well is the fifth of the company’s eight contractual commitments under the Exploration and Production Sharing Agreement (EPSA) signed between the NOC and REMSA in 2008.

The NOC and Sonatrach Petroleum Exploration and Production Corporation Libya Branch (SIPEX), the operator of Contract Area 95/96 in Libya’s Ghadames Basin, have made a new oil and gas discovery following the drilling of the A1-69/02 exploration well, located 70 km from the Wafa field.

The well was completed to a final depth of 8,440 feet and is delivering production rates of 13 million cubic feet of gas and 327 barrels of condensate per day from the Awynat Wanin and Awyn Kaza formations.

This is the sixth well drilled by Sonatrach out of eight planned under the Exploration and Production Sharing Agreement (EPSA) signed in May 2008 between NOC and Sonatrach.

As reported in the Libya Herald, the chairman of the NOC, Masoud Suleiman, affirmed that the new discoveries made in the Murzuq and Ghadames basins, as well as the offshore area, reflect the significant potential of Libya’s oil and gas sector and support the NOC’s strategic directions in developing its hydrocarbon resources. He stressed the NOC’s commitment to continuing exploration activity to increase reserves and production.

The discoveries follow two earlier discoveries by Eni reported in mid-March, together estimated at around one trillion cubic feet, approximately 85 km off the coast, and 16 km south of the Bahr Essalam gas field, Libya’s largest offshore field. These discoveries are projected to add about 130 million cubic feet of gas per day, boosting the NOC’s capacity to meet both domestic and international market demands and helping to address any gas supply shortages.

“This discovery highlights the promising potential of Libya’s offshore basins and continues the NOC’s efforts to boost production rates and develop the country’s natural resources,” the NOC commented.

The quarterly results issued by the leading oilfield services companies have highlighted the impact of the Middle East conflict on their revenues and operations

Halliburton recorded Middle East/Asia revenue in the first quarter of US$1.3bn, a decrease of 13% year over year, attributed to lower activity across multiple product service lines in Saudi Arabia and decreased drilling-related services in Qatar, although it saw higher completion tool sales and improved fluid services in Asia. The drop was seen in both the completion and production and drilling and evaluation divisions, with lower completion tools sales, decreased pressure pumping services and multiple drilling and evaluation product service lines.

Halliburton’s total revenue for the first quarter of 2026 was US$5.4bn, flat when compared to the first quarter of 2025, although net income was US$461mn compared with US$240mn in first quarter of 2025.

Jeff Miller, chairman, president and CEO said, “In international markets, our performance around the world outpaced disruptions from the Middle East conflict.”

SLB also reported a challenging start to the year as widespread disruptions in the Middle East impacted its business.

“The impact was most pronounced in Well Construction and Reservoir Performance, as SLB demobilised operations in a number of countries in response to customer actions to safeguard personnel and facilities,” said SLB chief executive officer Olivier Le Peuch.

First-quarter revenue of US$8.72bn increased 3% year on year with growth across North America both on land and offshore, Latin America, Europe & Africa, and Asia. These results reflect activity from the acquired ChampionX businesses, which contributed US$838mn of revenue, consisting of US$579mn in North America and US$231mn in the international markets. Excluding the impact of this acquisition, first-quarter 2026 revenue decreased 7% year on year.

Revenue in the Middle East & Asia of US$2.69bn decreased 13% year on year, reflecting the combined effect of lower activity and disruptions related to the conflict. These disruptions occurred in Qatar due to the declaration of force majeure and in Iraq and offshore operations across the region due to production shut-in constraints and security conditions.

Both the well construction and production systems divisions revenues saw decreases due to the conflict.

Baker Hughes recorded revenue of US$6.6bn, up 2% year on year, but saw Middle East / Asia oilfield services and equipment revenues down 19% year on year.

“Our exceptional first-quarter performance highlights the strength of our portfolio and the momentum we are building as we progress through Horizon 2(1). Despite significant disruptions in the Middle East, our teams executed at a high level and delivered results that exceeded our guidance range. Although we recognize this achievement, we continue to prioritise the safety and wellbeing of our employees and their families in the region," said Lorenzo Simonelli, Baker Hughes chairman and chief executive officer.

“Both OFSE and IET delivered strong results amid Middle East disruptions, underscoring the versatility and durability of the portfolios."

Girish Saligram, Weatherford’s president and chief executive officer, also notes the “complex and challenged environment” in the first quarter.

“With significant operational disruptions in the Middle East, we stayed focused on what matters the most - protecting our employees, maintaining continuity of operations for our customers, and controlling the variables we could. While we faced losses in revenue and increased costs due to the Iran conflict, we were able to offset the impact of those through additional contributions from other parts of the business,” he said.

The company’s second quarter results are likely to be softer than anticipated due to the time it is likely to take for activity levels to normalise, logistics to stabilise and incremental costs to come down, with performance dependent on the timing of these factors, he said.

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.”

LUFKIN Industries, a leader in rod lift optimisation solutions, products, automation, software technologies and services, has enhanced its intelligent rod lift design platform with the launch of SROD V9.5.0

The technology automates the design of rod lift systems to optimise surface and downhole components, thereby enabling the maximisation of production from the well..

SROD V9.5.0 allows engineers to seamlessly migrate existing well design files from various platforms to the SROD system, saving hours of data entry as well as allowing engineers to quickly determine if mature wells are underbalanced, over-torqued or using excessive energy. The software leverages its proprietary wave equation and Multi-Case Generation Wizard to test hundreds of simulations in seconds to determine the physical limits of the equipment, and applies iterative balancing to ensure motors use the least amount of effort to reach those limits.

SROD V9.5.0 promotes greater operational efficiency and equipment longevity through the new Counterbalance Report which automatically calculates the most economical counterbalance configuration to efficiently balance well designs, using the counterbalance weights now embedded in the SROD library. A number of user enhancements are also included to streamline the user experience.

“We’re continuing to invest in rod lift optimisation technology to help operators enhance productivity and efficiency of wells,” said Brent Baumann, chief executive officer for LUFKIN Industries. “SROD V9.5.0 automates key design development requirements, providing accuracy and speed like never before. Operators now have access to designing the most accurate, cost-effective rod lift systems.”

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.

The Middle East and North Africa (MENA) is set to become the world’s largest hydrogen exporter by 2060, while maintaining a dominant position in global oil and gas markets, according to DNV’s Oil & Gas Decarbonization in the Gulf Region report

The report highlights how Gulf Cooperation Council (GCC) countries are cutting the emissions intensity of their core oil and gas production while continuing to play a central role in global energy supply, presenting a picture of a region approaching the energy transition from a position of confidence and capital strength. Reductions in emissions intensity are occurring alongside continued hydrocarbon production and investment across renewables, electrification, hydrogen, methane abatement, digitalization, and carbon capture.

Since 2005, the GCC has produced nearly 18% of global oil and gas, a share expected to increase as investment continues in low-cost, advantaged resources. As global energy demand increasingly shifts toward Asia, the region’s location and cost competitiveness strengthen its position as a preferred supplier. At the same time, decarbonization measures are becoming an integral part of long-term competitiveness.

“The global energy transition will not progress at the same pace across regions, nor will it follow a single pathway,” said Brice Le Gallo, vice-president & regional director for Southern Europe, MEA & LATAM, Energy Systems at DNV. “In the Middle East, oil and gas remain central to economic stability and global energy security. The key challenge is to reduce their emissions footprint while accelerating investment in the technologies needed for a lower-carbon energy system.”

Electrification is being used to cut Scope 2 emissions from pumps, compressors, and offshore facilities, through grid connections, renewable power, and hybrid solutions. These efforts are supported by energy-efficiency measures and the use of digital tools and artificial intelligence to optimise drilling, reservoir management, and asset operations, reducing energy intensity and emissions per barrel produced.

Methane reduction remains one of the most immediate and cost-effective options for lowering emissions. Across the GCC, routine flaring is planned to be phased out by 2030 and leak detection and repair (LDAR) programmes are increasingly standard. National oil companies are also aligning with international methane initiatives, enabling continued production growth while reducing methane intensity in line with national net-zero targets.

GCC countries are realigning domestic energy systems to reduce oil and gas use domestically and free up volumes for export and low-carbon fuel production. Growth in renewables, electrification of transport and buildings, and efficiency gains are driving this shift. Investment in downstream industries, petrochemicals, and low-carbon fuels is also changing export profiles, moving beyond crude oil toward higher-value and lower-carbon energy products.

With access to low-cost natural gas, strong solar resources, and established industrial and export infrastructure, the region is well placed to scale both low-carbon hydrogen (produced from natural gas with carbon capture) and renewable hydrogen produced through electrolysis. By 2060, the Middle-East and North Africa region is projected to produce around 19 million tonnes of hydrogen and 13 million tonnes of ammonia per year, exporting about 50%, mainly toward Europe and advanced Asian economies.

“Hydrogen, ammonia, and carbon capture are becoming core elements of the GCC’s energy export model,” said Jan Zschommler, market area manager for the Middle East, Energy Systems at DNV. “As emissions requirements tighten, access to international markets will increasingly depend on carbon intensity. Integrating hydrogen production with renewable power, carbon capture, and existing industrial clusters allows the region to remain competitive while meeting these requirements.”

Carbon capture, utilization and storage (CCUS) is also set to grow. In January 2026, the UAE's Supreme Council for Financial and Economic Affairs has introduced Carbon Capture Policy as a further commitment to meeting their carbon reduction targets. Captured CO₂ volumes (including CO₂ removal) are expected to reach around 250 million tonnes per year by 2060, equivalent to roughly 8% of regional energy-related and industrial emissions.

Bioenergy with carbon capture (BECCS) and direct air capture (DAC) combined are expected to remove around 81 million tonnes of CO₂ per year by 2060, helping to offset emissions from sectors that are more difficult to decarbonise.

The full report is available at https://www.dnv.com/energy-transition-outlook/oil-and-gas-decarbonization-in-the-gulf-region/