Global demand for oilfield services (OFS), measured in the total value of exploration and production (E&P) company purchases, is set for a massive 25 per cent yearly drop in 2020 as a result of the COVID-19-caused downturn, a Rystad Energy analysis shows
Industry
Saudi Arabia projected to add 25bn bbl to future production capacity: Rystad Energy
Saudi Arabia, as the clear winner of the OPEC+ deal, is predicted to add 25bn bbl to its future production capacity, despite peak oil coming sooner
Total investments in MENA’s energy sector in excess of US$792bn, says APICORP
The planned and committed investments in the MENA region will exceed US$792bn from 2020–2024, according to the Arab Petroleum Investments Corporation (APICORP)
Petrofac wins multi-million dollar Bahrain EPCC contract
Tatweer Petroleum has awarded Petrofac’s Engineering & Production Services (EPS) a multi-million dollar engineering, procurement, construction and commissioning contract (EPCC) for an upstream gas project in Bahrain
Siemens, Total collaborate to advance concepts for low-emissions LNG production
Siemens Gas and Power has concluded an agreement with Total, a broad energy group, to advance new concepts for the production of green liquified natural gas (LNG)
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