Saipem has been awarded new E&C Offshore contracts in Egypt, in the North Sea and in Russia, worth in excess of US$1 billion.

The development and exploration program on Blocks 3 and 4 onshore the Sultanate of Oman accelerated after a second drilling rig has been contracted.

Kuwait Energy Company discovered two new oil discoveries in the East Ras Qattara (“ERQ”) concession located in Egypt’s Western Desert.

Plans to boost the refining capacity of Bahrain by almost 50 per cent are projected to cost up to US$6 billion, the countrys top oil official was quoted as saying this week.