TWMA has been awarded a contract worth up to US$15mn to support a large-scale oil and gas project for bp in Egypt
TWMA awarded US$15mn contract for bp's Egyptian oil & gas project
Exploration & Production
Arabian Drilling Company scoops Aramco land rig contracts
Arabian Drilling Company, a major national onshore and offshore drilling contractor in Saudi Arabia, has won a number of five-year contracts from Aramco for 10 additional land rigs, amounting to more than SR3bn (US$799,680,000)
Exploration spending on the up but discoveries disappointing: Rystad Energy
Spending on conventional oil and gas exploration is rebounding and expected to exceed US$50bn this year, the highest since 2019, according to new research from Rystad Energy
Spending on well interventions is projected to jump by almost 20% this year to US$58bn according to research from Rystad Energy, with Saudi Arabia being the top onshore market from 2023-2028
According to a recent survey by Reuters, OPECs oil output experienced a modest decline in June, with Iraq and Nigeria raising their production levels, offsetting the cutbacks made by other member countries
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