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Oil Review Middle East weekly digest - 2nd July - 6th July

Event News

Here is a brief overview of the week’s news on Oil Review Middle East, from 2nd July - 7th July 2017

Saudi Aramco's 2016 review displays continued growth 

Saudi Aramco has released its 2016 Annual Review, highlighting the significant achievements in progressing its long-term strategy as the world's leading integrated energy company. Click here to read the full story.

Energy giants to invest in Qatar’s gas expansion project 

The CEOs of ExxonMobil, Royal Dutch Shell and France’s Total met Sheikh Tamim bin Hamad al-Thani, the emir of Qatar, and expressed their interest to help Qatar in its ambition to produce 100mn tonnes of LNG annually in the next five to seven years. Click here to read the full story.

Actemium awarded major EPC contract for control systems upgrade in Abu Dhabi 

Actemium has been awarded an Engineering Procurement and Construction (EPC) contract by Abu Dhabi Gas Industries Limited (GASCO) for the upgrade of the control systems at the company’s Asab-1 plant. Click here to read the full story.

New Baker Hughes to bring fullstream oil and gas solution 

Baker Hughes (BHGE), part of the multinational conglomerate General Electric (GE) company, announced that it has completed the transaction with GE's oil and gas business, and will bring together industry-leading equipment, services and digital solutions across oil and gas development. Click here to read the full story. 

Libya's oil production exceeds one million bpd 

Libya's oil production has risen to 1.012mn barrels per day (BPD), as reported by Reuters, topping one million barrels for the first time in four years. Click here to read the full story. 

UAE economy remains relatively robust despite slowing growth rate 

According to credit rating agency Moody's, the UAE's economy grew at a relatively strong three per cent in 2016, although less than the average 4.9 per cent annual rate between 2011 and 2015. Click here to read the full story. 

Total SA signs South Pars gas field deal with Iran 

France’s Total SA has signed a 20-year gas contract worth US$5bn with Iran, aiming to develop the country’s biggest South Pars gas field, with a targeted production capacity of two billion cubic feet per day including condensate. Click here to read the full story. 

ABB acquires KEYMILE’s communication networks business

ABB announced on 3 July that it has agreed to acquire the mission-critical communication business of the KEYMILE Group to strengthen its communication networks portfolio. Click here to read the full story. 

 

The oil and gas industry has been increasingly adopting AI technology in recent years, and this trend is expected to continue in the coming years. (Image source: Adobe Stock)

SmartMaster can be used with a range of ABB and third-party instruments. (Image source: ABB)

Comparison of conventional workflow with DUG MP-FWI imaging. (Image source: DUG)

The expansion is expected to increase the plant’s processing capacity from 2.5 to up to 4 billion standard cubic feet per day (bscfd). (Image source: Aramco)

Oman LNG signed various agreements with Shell Gas to secure its gas supply until 2034. (Image source: Adobe Stock)

ARO Drilling and IMI announce first Kingdom jack up rig (Image source: ARO)

GAC Saudi Arabia has extensive operations at major ports in Saudi Arabia. (Image source: GAC Saudi Arabia)

Michael Monica, director sales, marketing and customer care at GPT Industries signs the agreement with Mohamed Altaf, sale manager, Abdulla Fouad Energy Services. (Image source: Alain Charles Publishing)

Amin H. Nasser, CEO of Aramco. (Image source: Aramco)

The system can activate notification and hazard mitigation equipment to notify workers and safeguard facilities. (Image source: MSA Safety)

The new discoveries will bolster Aramco’s strategy to increase gas production by more than half over 2021 levels, through 2030. (Image source: Adobe Stock)

The use of blockchain in the oil and gas sector is set to increase substantially. (Image source: Adobe Stock)

The new technology is designed to address the challenging conditions in unconventional wells. (Image source: Adobe Stock)

Source: SafeStart

The Ampelmann A-type enabling safe offshore access in the Middle East. (Image source: Ampelmann)

Aramco has produced the first unconventional tight gas from its South Ghawar operational area ahead of schedule. (Image source: Adobe Stock)

Gaurav Khupsare, Director, MACS-G Solutions. (Image source: Alain Charles Publishing)

Tethys Oil is currently conducting final preparations ahead of the rig mobilisation for the drilling of the first exploration well on Block 58, Kunooz-1 in Fahd.

TotalEnergies and SONATRACH will develop gas resources in Algeria's north-east Timimoun region, (Image source: Adobe Stock).

By using analytics to augment and empower the workforce, pipeline operators can optimise operations and improve asset availability. (Image source: Adobe Stock)

The oil price is hovering around the US$90/bbl mark. (Image source: Adobe Stock)

The Craig International Qatar team. (Image source: Craig International)

The SuperFill II diverter reduces induced surge pressure. (Image source: Halliburton)

Among other services, KBR will offer proprietary equipment for NCIC's 1,200 metric tonnes per day ammonia plant. (Image source: Adobe Stock)

The expansion is expected to increase the plant’s processing capacity from 2.5 to up to 4 billion standard cubic feet per day (bscfd). (Image source: Aramco)

Comparison of conventional workflow with DUG MP-FWI imaging. (Image source: DUG)

ADNOC Gas recorded robust financial and operational results in 2023. (Image source: Adobe Stock)

Over 4,000 km of SoluForce pipe has been installed around the world. (Image source: SoluForce)

Block 56 is targeted for commercialisation in 2024. (Image source: Canva)

The programme will optimise asset lifecycle, enhance machinery performance and improve overall reliability. (Image source: Adobe Stock)

The use of blockchain in the oil and gas sector is set to increase substantially. (Image source: Adobe Stock)

Source: SafeStart

GAC Saudi Arabia has extensive operations at major ports in Saudi Arabia. (Image source: GAC Saudi Arabia)

The company is well positioned in 2024, with a reshaped and resilient business and a strong balance sheet. (Image source: Adobe Stock)

The vessel addresses the growing demand for accurate hydrographic data. (Image source: Fugro)

The virtual inhouse seismic processing centre will allow each of the decentralised business units of Wintershall Dea globally to collaborate efficiently and directly with DUG. (Image source: Adobe Stock)