Oil Review Middle East weekly digest - 17th - 21st December

public domain commons for ORME 307Here is a brief overview of the week’s news on Oil Review Middle East , from 17th - 21st December 2017

BHGE receives US$175mn contract to boost production of Haradh and Hawiyah gas fields

Saudi Aramco has awarded a US$175mn contract to Baker Hughes, a GE company, to drive enhanced production at the Haradh and Hawiyah gas fields, a move that is projected to strengthen the presence of BHGE in the Kingdom. Click here to read the full story.

Global oil storage market set to reach US$17.22bn by 2023: TMR

The global oil storage market is expected to reach US$17.22bn at a compound annual growth rate (CAGR) of 4.2 per cent from 2017 to 2023, mainly due to burgeoning investments by major market players, according to Transparency Market Research (TMR). Click here to read the full story.

World Bank to stop funding oil and gas projects from 2019

The World Bank group has announced that it will cease to finance new upstream oil and gas exploration projects after 2019. Click here to read the full story.

Five Middle East countries in top ten with largest oil reserves: GlobalData

Saudi Arabia, Iraq, Kuwait, Iran and the UAE rank in the list of the ten countries with the largest remaining crude and condensate reserves, according to GlobalData. Click here to read the full story.

Ampelmann introduces solution to meet IMO’s lifeboat safety regulations

Ampelmann has introduced its Atlas motion-compensated lifeboat exchange system to the oil and gas industry, aiming to achieve a faster, safer and more cost-effective offshore access solution. Click here to read the full story.

Schlumberger wins Aramco contracts for oil and gas well services

Saudi Aramco has awarded two contracts to Schlumberger for drilling rigs and services for oil and gas wells in the Kingdom. Click here to read the full story.

Egypt’s Zohr gas field starts production

Eni’s Zohr gas field in Egypt, one of the largest natural gas fields in the Mediterranean region, has started production with an initial 350mn cf per day, a move that aims to make the country self-sufficient in producing energy. Click here to read the full story.

BHGE unveils artificial lift center of excellence in Dammam

Baker Hughes (BHGE) has inaugurated its artificial lift centre of excellence at its multi modal facility in the MODON site in the second Industrial City of Dammam, aiming to support localised manufacturing and Saudi talent development. Click here to read the full story.

Eni enters into new exploration permits offshore Morocco

Italian oil and gas giant Eni has signed a petroleum agreement (PA) with the Moroccan State Company ONHYM to enter into the Tarfaya Offshore Shallow exploration permits I-XII, which is located in the Atlantic Ocean offshore the cities of Sidi Ifni, Tan Tan and Tarfaya. Click here to read the full story.

TGS and Schlumberger announce 2D seismic project in Egyptian Red Sea

TGS, the global geoscience data provider for oil and gas exploration and production companies, has partnered with Schlumberger for a new 2D seismic project offshore Egypt. Click here to read the full story.

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