Industry

Field trials of the OOR technology are underway in the Middle East and elsewhere. (Image source: Adobe Stock)

Precision engineering group Hunting PLC has announced it is looking to grow its presence in the Middle East with the construction of a small laboratory in the UAE to service clients in the Eastern Hemisphere

This will enable sample lead time and overall analysis time to decrease as a result of closer proximity to the customer, according to the company, which has operations in the UAE and Saudi Arabia as well as other global locations. Hunting sees the Middle East as a key area of growth, given the tender activity across the region, according to its 2024 Results statement.

Hunting’s recent announcement of the acquisition of the Organic Oil Recovery (“OOR”) enhanced oil recovery technology from its founding shareholders, for US$17.5mn, also has the potential to boost this expansion, as it will allow the company to accelerate commercialisation across North America and the rest of the world. Hunting will pay a 15% royalty to the sellers on revenue earned for a period of 15 years, post-completion.

The Organic Oil Recovery process is a proven and innovative enhanced oil recovery technology which optimises reservoir performance and recovery rates.

This breakthrough technology, which manipulates the resident down-hole ecology, offers operators an easy-to-deploy advanced tertiary oil recovery resulting in increased production and the lowering of lifting costs. It also lowers the water cut during end-of-life production, lowers hydrogen sulphide levels in production offtake and extends the life and increases the economic returns of a producing field.

Field trials of the OOR technology are currently underway with numerous blue-chip exploration and production companies across the Middle East, North America, Europe and Asia Pacific. Over 340 successful applications onshore and offshore have been reported, with an overall success rate of 94%.

Hunting has secured up to US$60mn of orders from operators in the UK North Sea, with a strong pipeline of opportunities likely to be secured internationally in the coming years, as the oil and gas industry becomes aware of the production benefits of the solution.

Given the prevalence of mature fields in the Middle East, and the challenges of trapped oil, steep production declines, excessive water production and H2S which the OOR technology addresses, there would appear to be strong potential for expansion in the region.

Jim Johnson, chief executive of Hunting, said, “Following the acquisition of this exciting business, Hunting now has the ability to deploy this remarkable technology globally. The technology is currently being evaluated by many blue-chip customers, with the benefits to the operator clear. For Hunting, the business will be margin accretive and strongly position the company to reach its Hunting 2030 Strategy targets in the medium term as commercialisation accelerates.”

Dr Chiraz Ennaceur, co-founder and CEO of CorrosionRADAR. (Image source: CorrosionRadar)

When Dr. Chiraz Ennaceur – a female industrial technology entrepreneur – stood up to accept the Maintcon 2024 Women in Excellence award, she hoped it would inspire more women to consider a sector where women are unlocking new potential and leading change.

To mark International Women’s Day, Oil Review Middle East asked the co-founder and CEO of CorrosionRADAR to share her remarkable 20-year journey in engineering and industrial technology.

Oil Review Middle East: Why are industry awards important to you?

Dr. Chiraz Ennaceur: Being awarded the Maintcon 2024 Women in Excellence award was certainly a milestone in my career. Sponsored by Aramco and with over 2,000 delegates at the annual event, nominations showcased many incredible women around the world achieving amazing things in the asset maintenance and management industry – a sector where females are now increasing in numbers.

Moments like these remind us that everything’s possible. Entrepreneurs are crucial to drive innovation forward. And women (even a mum of two, like me) can achieve this too.

Oil Review Middle East: What did your education and early career look like?

Dr Chiraz Ennaceur: After completing my school education in Tunisia, I went on to achieve a civil engineering degree at Ecole National d'Ingénieurs de Gabès (ENIG). I was one of two girls in a class of 20 students. My degree cemented my love of engineering, so I completed a PhD in mechanical engineering at the University of Technology of Compiègne (France). This is when I developed new technology to detect crack propagation in pressure vessels. Again, there weren’t many women in this environment back then.

I started my career in the Netherlands as a Postdoc at WZI – University of Amsterdam and the Foundation for Fundamental Research on Matter (FOM). One achievement was developing new technology for structural health monitoring and Non-Destructive testing (NDT).

When I then became programme manager at The Welding Institute in Cambridge (UK) for the Structural Integrity Research Foundation (SIRF), I was leading a £150mn strategic research partnership, looking to innovate across many industry sectors. It was an exciting time to be at the forefront of such technological ideas. At this time, I knew I wanted to set up and run my own company. The question wasn’t if, but when.

Oil Review Middle East: How did you become a co-founder of CorrosionRADAR?

Dr. Chiraz Ennaceur: The opportunity to run my own company came in 2017, along with Dr Prafull Sharma and Dr Mehrdad Silatani, who co-founded CorrosionRADAR with me. The venture was a spinout from Cranfield University designed to take groundbreaking research into the commercial world.

Digitalisation is the future wherever you look – smart cities, health, education, and industry. It’s about having connectivity to an object and using the data to make informed decisions that have more impact. This was our fundamental mission.

At CorrosionRADAR, we’re working to digitalise corrosion under insulation (CUI) monitoring in the oil, gas, and petrochemical industry. Our focus is on helping optimise asset life and improving maintenance processes while saving money and enhancing safety.

Oil Review Middle East: What enables success as a tech entrepreneur?

Dr. Chiraz Ennaceur: Entrepreneurship takes grit. You must live and breathe your venture 24/7 and expect many ups and downs as you move forward. Essentially, you’re solving a problem people are prepared to pay for. In fact, every problem presents an opportunity. But you must be able to commercialise your idea and scale your business.

Start by creating your minimum viable product (MVP). It won’t be perfect from day one, but this is the first step. Then, find early adopters who believe in you, clients who are prepared to join you on your journey. If you’re to grow, collaboration is essential at this early stage. Surround yourself with a good team – people who know more than you. Network extensively and find strong partnerships too. Share your research with other stakeholders and avoid working in silos. In this way you can start to scale.

Finding investment is also important. You must learn how to sell your vision to potential investors and grab their attention. They need to see how their investment could fuel your expansion and develop your ideas to serve the majority profitably. We achieved our first round of funding in 2021, with a second round in July 2024. To date, we’ve raised a total of US$14mn. Our investors include Aramco Ventures, Dow, Mercia Ventures, Kanoo Ventures, and Finindus. It was great to see these industry leaders share our vision and receive their insights.

This welcome financial support is helping us scale at speed and accelerate the deployment of CUI monitoring systems worldwide. It’s also enabling the continued development of new digital products to improve safety and operations across the sector.

Oil Review Middle East: How did you apply your approach to CorrosionRADAR?

Dr. Chiraz Ennaceur: Of course, I had to practice what I preached. People had to believe in our solution and see how Industry 4.0 could transform predictive asset monitoring and maintenance. We were bringing a digital solution to a longstanding and significant challenge for oil and gas pipeline owners: corrosion under insulation (CUI). Winning several awards is a testament to our important and innovative work.

I also wanted the industry to see how CorrosionRADAR aligned with a Net Zero vision. By helping asset managers find CUI problems early, the risk to the environment falls and maintenance becomes less significant.

Oil Review Middle East: Why is it such an exciting time for industrial technology entrepreneurs, especially female ones?

Dr. Chiraz Ennaceur: As innovation accelerates – thanks to technological advances like wireless connectivity, sensor technology, and machine learning – doors are opening for more women to get involved in industrial sectors like asset integrity.

In fact, entrepreneurs have the opportunity to solve real problems using technology – whether they’re male or female.

I continue to champion technology entrepreneurs whenever possible. In 2021, I met Rishi Sunak (Former UK Prime Minister) as part of a select group of CEOs to discuss how the UK government could support innovative companies to scale. I was also involved in several Cambridge Judge Business School programmes, including the EnterpriseWISE programme.

To change the world, we need more entrepreneurs, and women can now make an impact in sectors they may not have previously considered. I believe we’re on a collective mission to ensure digitalisation transforms every commercial sector around the globe. New technologies (and an appetite to change how we do things) are fuelling an exciting revolution you could be part of.

Energy salaries are experiencing a post-COVID rebound. (Image source: Adobe Stock)

Salaries in traditional energy are experiencing a strong rebound after the challenging post-COVID period, and the Middle East remains a favourite destination for relocation, according to the latest edition of Airswift’s annual Global Energy Talent Index (GETI) energy workforce trends report

50% of professionals are receiving a pay rise in 2025, with 26% enjoying raises exceeding 5% and 71% expecting further rises in the next year, according to the report.

Janette Marx, CEO of Airswift, commented, “As the industry recovered from COVID-19, pay did not keep up with inflation. Over the last couple of years, many companies focused on closing this gap to accurately reflect the highly technical competency of the positions, which has helped attract and retain employees.”

The average oil and gas annual salary in the Middle East in 2024 was US$85,641, with workers in the region taking home more than US$100,000 being drilling supervisors (US$153,194), reservoir engineers (US$128,681), project managers (US$125,378) geophysicists (US$120,506), drilling engineers (US$118,853) and construction managers (US$118,661).

Global mobility remains strong; over the past five years, the expatriate workforce has remained around 40% – higher than any other energy industry sector. While 80% of traditional energy professionals would consider relocating for work, this figure has declined from 89% in 2021, reflecting a shift in career priorities. The Middle East remains a firm favourite in terms of preferred destinations to relocate to, coming second only after Europe, while interest in North America has remained stable.

Career progression remains the main driver for relocation, rising to 50% in 2025, while remuneration has gained importance, replacing culture as a key motivator. Family reasons are the main factor cited for reluctance to relocate, although this concern has declined year-on-year.

As demand for expertise in traditional energy grows, 86% of professionals would consider changing roles, with 62% open to opportunities within traditional energy. As the energy transition advances, interest in switching to renewables has grown, standing at 71% in 2025. Technology remains the most attractive non-energy sector, with 28% of professionals considering a career in this sector.

Future workforce trends 

The impact of the energy transition on the sector is apparent, with professionals identifying advances in engineering techniques and technology (37%) and the transition to clean energy (37%) as the biggest industry opportunities. Meanwhile, optimism in employer resilience has grown, with 71% of professionals confident in their company’s ability to navigate future challenges.

To build greater resilience, professionals identify a greater need to increase training and mentorship programmes (up from 20% in 2021 to 28% in 2025) as well as a greater focus on cost management plans.

Marx observed, “The results reflect the story of how the industry is evolving. Pressure has increased to make the industry cleaner, safer and more efficient – advanced technologies and techniques remain a key part of that, but AI is also coming to the fore, as we saw in last year’s GETI. Additionally, it has become increasingly imperative that we achieve this regardless of the political climate or economic pressures.”

With reluctance to relocate growing and interest in renewables intensifying, companies must continue investing in career development, workforce flexibility, and technical skills training to retain experienced professionals and sustain industry resilience, says Airswift.

The full report is available for download at https://www.getireport.com/

Amin H. Nasser, CEO Aramco. (Image source: Aramco)

Aramco recorded healthy profits of US$106.2bn in 2024, and capital investment of US$53.3bn as it implemented the largest capital programme in its history

Profits were, however, hit by lower oil prices, seeing a drop of 12% on the 2023 figure, attributed by the company to “lower revenue and other income related to sales, higher operating costs, as well as lower finance and other income.”

Amin H. Nasser, Aramco’s president and CEO, noted that Aramco has made significant strides during the year on a number of projects and initiatives aimed at reinforcing its upstream pre-eminence, further integrating its downstream portfolio and developing the new energies business.

In its Annual Report, Aramco states that it intends to maintain its position as the world’s largest crude oil company by production volume, and is progressing several crude oil increments that are scheduled to come onstream in the coming years to sustain maximum sustainable capacity at 12mn bpd as well as allowing Aramco to preserve its operational flexibility.

The Marjan and Berri increments are expected to be onstream in 2025, with the Zuluf field increment scheduled to follow in 2026 and the second phase of Dammam in 2027.

Expanding the gas business

Aramco plans to further expand its gas business, including the development of its unconventional gas resources, increase its sales gas production capacity by more than 60% by 2030 compared to its 2021 production levels and invest in additional infrastructure to meet the large and growing domestic demand and to displace oil in power generation. Phase One of its Jafurah unconventional gas field development remains on schedule for 2025, with contracts awarded for Phase Two. The Tanajib Gas Plant project will come onstream in 2025, providing additional raw gas processing capacity from Marjan and Zuluf. Aramco has also completed the first full cycle of gas storage and reproduction into the Master Gas System from the Kingdom’s first underground natural gas storage reservoir.

Aramco anticipates strong demand-led growth for LNG as the energy transition progresses, with plans to develop an integrated global LNG business. In 2024, it acquired a strategic minority stake in MidOcean, followed by additional investments.

Downstream, Aramco intends to continue the strategic integration of its Upstream and Downstream businesses to facilitate the placement of the company’s crude oil in larger offtake volumes through a dedicated system of domestic and international wholly-owned and affiliated refineries and petrochemical complexes. The company intends to continue to grow its liquids-to-chemicals business, with a goal to increase its capacity in petrochemical producing complexes to up to four million bpd by 2030. Geographically, Aramco intends to enhance both its domestic and global Downstream businesses in key high-growth geographies such as China, India, and Southeast Asia.

Aramco is also making further investments in renewables projects through its New Energies business, as well as advancing lower-carbon products and solutions in the energy, chemicals, and materials sectors. Particularly noteworthy is the carbon capture and storage hub, which it is developing with partners at Jubail. When completed, this facility is expected to be one of the largest in the world, with the capacity to capture up to nine million tons of CO2 annually from the first phase.

“Our strong net income and increased base dividend illustrate Aramco’s exceptional resilience and ability to leverage its unique scale, low cost, and high levels of reliability to deliver industry-leading performance for our shareholders and customers,” said Nasser.

“Global oil demand reached new highs in 2024, and we expect further growth in 2025. With dependable and more sustainable energy key to global economic growth, we continue to make progress on projects to maintain our maximum sustainable crude oil capacity, expand our gas capabilities, achieve further integration of our Upstream and Downstream businesses to capture additional value, and help mitigate greenhouse gas emissions.

“We are also adopting and deploying AI technologies and solutions at scale across our operations, unlocking greater efficiencies and value creation throughout our business. Capital discipline is at the core of Aramco’s strategy, enabling us to deliver growth and capture value across conventional and new energy solutions.”

“With the world’s demand for energy continuing to grow, clearly one of the defining challenges of our time will be meeting this rising need while also lowering overall emissions to address climate challenges,” said H.E. Yasir O. Al-Rumayyan, chairman of the Board of Directors in the company’s Annual Report. “Against this backdrop, Aramco is purposely investing today with the long-term in mind.”