Energy companies have been cutting exploration and production budgets since the COVID-19 pandemic struck and sent oil prices down, but operators are now likely to increase expenditure on decommissioning work with few profitable investment alternatives
Industry
Oceaneering wins asset integrity scope contract in Middle East
Engineering services company Oceaneering International has been awarded a significant asset integrity contract from a major operator based in Dubai, UAE
KSA-based ARGAS targets global expansion
KSA-founded Arabian Geophysical & Surveying Company (ARGAS), a seismic acquisition company in MENA, is expanding its operations internationally, building on a strong track record that has made it a leading regional success story in the oil and gas sector services industry
SNOC awards EPIC contract to Lamprell
Sharjah National Oil Corporation (SNOC) has selected Lamprell to enter into a medium-sized engineering, procurement, installation and commissioning contract (EPIC) related to the Mahani gas and condensate field in Sharjah, UAE
‘Middle East on track to bring significant refining capacity online over next 15 years’
After years of talk about the declining role of oil in the global economy, and of OPEC’s demise, the COVID-19 pandemic has placed Middle East producers at the heart of the drive to prevent the health crisis becoming a global economic catastrophe, said data and analytics company GlobalData
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