Strong oil prices have boosted the projected energy investment in the Mena region by nearly US$65bn to around US$615bn over the next five years, according to an official study.

Technology and Manufacturing firm Honeywell has announced the opening of a full-service office in Baghdad. Other offices are being planned for southern and northern Iraq.

Austrian high-precision oilfield components manufacturer Schoeller- Bleckmann Oilfield Equipment announced it has bought Dubai-based Drilling Systems International (DSI).

Dolphin Energy Ltd has announced plans for a maintenance program at its onshore and offshore facilities which will take place in February 2011.

Oil trading companies are dramatically expanding their footprint in Dubai, opening new offices or increasing staff numbers as they attempt to capitalize on the growing refining activity and new products being developed in the Gulf Arab region.