Abu Dhabi’s Zakum Development Company (Zadco) has awarded a contract to Al Jaber Energy Services, a member of Al Jaber Group, for civil work at the offshore Upper Zakum oilfield.

Korea National Oil Corporation (KNOC) has signed a contract to develop three undeveloped oil blocks in Abu Dhabi with the Abu Dhabi National Oil Company (ADNOC).

Total has acquired 40 per cent interest in the exploration license from Oil Search, which is subject to the approval of Yemens Ministry of Oil and Mineral Resources.

Iraqs oil production has risen above three million barrels per day for the first time in more than three decades, the government announced, adding that it will sharply increase exports with a major new floating oil terminal beginning operations this week.