Aramco has signed definitive agreements to acquire an equity interest in the Jubail-based Blue Hydrogen Industrial Gases Company (BHIG), a wholly- owned subsidiary of Air Products Qudra (APQ). The transaction will also include options for Aramco to offtake hydrogen and nitrogen. Aramco expect the investment will contribute to the development of a lower-carbon hydrogen network in the Kingdom of Saudi Arabia’s Eastern Province to serve both domestic and regional customers. news Image Credits: Top left: Adobe Stock, Top right: KBR, Bottom: Aramco SLB has recorded a strong performance in the Middle East & Asia in its results for Q2 2024, boasting year-on-year revenue increasing by 24% from the region. A vast portion of the increase has been attributed to higher drilling, intervention and evaluation activity as well as increased sales of production systems in the Kingdom of Saudi Arabia. SLB CEO Olivier Le Peuch commented, “We achieved solid second-quarter results, with broad-based international revenue growth and margin expansion across all divisions. “Our Core business continued to build on its positive momentum and our digital business accelerated, resulting in our highest quarterly international revenue since 2014.” In the Kingdom, Saudi Aramco awarded SLB a long-term contract for unconventional gas directional drilling services, while in Qatar, SLB was awarded a five-year contract for directional drilling, measurement-while-drilling, and logging-while drilling services. In Oman, ARA Petroleum Exploration and Production (ARA) awarded the operator a five-year contract to enhance ARA’s reservoir engineering capabilities. In the decarbonisation space, SLB and ADNOC Onshore successfully deployed the EcoShield low- carbon geopolymer cement-free system, aiding in the decarbonisation of cementing operations. Technology company KBR has announced that its blue ammonia technology has been selected by Shell for its Blue Horizons low- carbon hydrogen and ammonia project in Duqm, Oman. Under the terms of the contract, KBR will provide license proprietary engineering design for the 3,000 metric tons per day plant which will utilise hydrogen produced by Shell’s Blue Hydrogen technology. The facility will utilise KBR’s ammonia synthesis loop technology to deliver cost- competitive ad low-carbon intensity ammonia. KBR chosen for Shell’s Blue Horizons project Aramco to acquire 50% stake in APQ subsidairy BHIG SLB reports strong Middle East & Asia growth The Aramco and APQ signing ceremony. 6 ISSUE 5 2024 | oilreviewmiddleeast.com SLB continues to benefit from increased activity within the region. The facility will use KBR’s ammonia synthesis loop technology. news Image Credits: Adobe Stock (top); Fishbones (bottom) The key trends and uncertainties surrounding the energy transition are explored in the latest edition of bp’s Energy Outlook using two main scenarios: Current Trajectory and Net Zero. Together these scenarios span a wide range of the possible outcomes for the global energy system over the next 25 years. In both scenarios, the structure of energy demand changes, with the importance of fossil fuels declining, replaced by a growing share of low carbon energy, led by wind and solar. For the full story, see https://oilreviewmiddleeast.com/en ergy-transition/bps-energy- outlook-examines-future-energy-sc enarios Leading provider of alternative reservoir stimulation technology, Fishbones has signed contracts for deliveries of Fishbones stimulation technologies with two major national Middle East operators. Contract values are estimated to exceed a total of US$15mn. The agreements were signed during H1/2024. Deliveries of Fishbones technologies under these contracts have already started, with a number of installations planned for key locations in the region. Both Fishbones Jetting and Fishbones Drilling technology will be utilised in offshore and onshore wells. Fishbones signs multi-year contracts with Middle East operators bp's Energy Outlook examines future energy scenarios 7 Oil demand is projected to decline over the outlook. ISSUE 5 2024 | oilreviewmiddleeast.com Fishbones technology delivers pinpointed stimulation.