Technology Middle East Exclusives

Efficiency and accuracy of directional drilling is improved with new proportional steering system.

The workforce could be the deciding factor.

Saudi Aramco’s IPO: Will It Happen?

Recent windfalls generated through taxes and the kingdom’s “anti-corruption purge” has triggered further speculation about the future of Saudi Aramco’s IPO.

adipec_total_bp

Total CEO Patrick Pouyanne and BP’s Group Chief Executive Bob Dudley shared insights on how their companies found opportunities in in the downturn.

Middle East oil, gas, shared oil field, Iran, Iraq, Saudi Arabia, Qatar

Most of the shared oil and gas fields are located in the Arabian Gulf, which is considered one the world’s shallowest seas with depths rarely exceeding 100 m.

Contracts Middle East

It is the first of three major offshore expansions in Saudi Arabia and the company’s largest upstream development project this year.

Executives from the two companies have signed an agreement which outlines a program to develop the fields.

The existing facility, located approximately 60 km (37 miles) west of Istanbul, has been in operation since 2007 and BOTAŞ intends to expand its working gas capacity to 4.6 billion cubic meters.

The award includes the novation of substantial CRA linepipe and long lead items contracts.

The two companies also signed a product-sharing agreement for Ashrafi, Dan-Ulduzu and Aypara exploration area.

Downhole Middle East

Integrating geomechanics with drilling fluid design successfully mitigates time-dependent wellbore instability in Middle East fields.

Equipment Middle East

Industry sources told Reuters last year that Aramco was operating about 212 oil and gas rigs, a level it had kept steady since 2015. That number did not include rigs used to drill water wells.

Saudi Aramco is now operating around 212 oil and gas rigs; which is a level it has kept steady since 2015. That number does not include water rigs.

Contract is in scope of Jereh Oilfield Services Group, the Chinese licensing partner. Ben Van Bilderbeek, CEO, said POS-GRIP’s safety and time savings were evaluated against traditional slip and seal systems.

Installation of two jackets in the Bul-Hanine Field offshore east of Doha has been scheduled to be completed by December 2016 with the remaining two scheduled for completion in July 2017. The total weight of all four structures combined is 3,495 tons.

All terms and conditions of the contract remain in full force and effect for the rest of the five-year term of the contract, according to Hercules offshore.

Operations Middle East

Oil and gas giant Saudi Aramco is having preliminary talks with banks about a potential debt financing of up to $70 billion to back its acquisition of a majority stake in Saudi petrochemical firm Sabic, banking sources said on Sept. 5.

Israeli energy conglomerate Delek Group reported lower quarterly profit on Aug. 30, hurt by a loss from E&P business in the North Sea at its Ithaca Energy unit.

Iran’s oil minister said on Aug. 20 that France’s Total (NYSE: TOT) has officially left Iran after the U.S. threatened to impose sanctions on companies that do business in the country.

The company discovered two new oil fields, Sakab and Zumul, and a gas reservoir in the Sahba Field, Aramco said in the report.

Local workers said about 10 protesters managed to briefly enter a crude separation facility before police pushed them back. An angry crowd set fire to a caravan used by police, said two policemen at the scene.

People Middle East

The board of directors of SeaBird Exploration Plc has appointed Hans Petter Klohs as its new CEO of the company on June 24.

Khalid al-Dabbagh was named acting service line head for finance, strategy and development at the world’s largest oil producer, taking over on an interim basis from Abdallah al-Saadan, who was senior vice president of the department, the sources said.

Saudi Aramco said on April 29 it has appointed new members to its board including a female executive, a milestone for Saudi Arabia and the oil industry where there are few women executives.

UTEC has been awarded geophysical survey contracts in Saudi Arabia in conjunction with it’s in Kingdom partner, Zamil Offshore, the company said January 2018.

Kuwait replaced its oil, finance and defense ministers in a cabinet reshuffle on Dec. 11, state news agency KUNA reported.

Regulations Middle East

U.S. President Donald Trump called Saudi Arabia’s King Salman on Sept. 29 and they discussed efforts being made to maintain supplies to ensure oil market stability and global economic growth, Saudi state news agency SPA reported.

White House national security adviser John Bolton on Sept. 25 dismissed an EU plan for a special payments plan to circumvent U.S. sanctions against Iranian oil sales and pressed the SWIFT global payments messaging system to rethink dealing with Tehran.

Iran’s head of the navy of its Revolutionary Guards, General Alireza Tangsiri, claimed his country has full control of the Persian Gulf and the U.S. Navy does not belong there.

Iran's oil minister on July 7 accused President Donald Trump of insulting OPEC by ordering it to increase production and reduce prices, adding that Iranian output and exports had not changed as a result of U.S. pressure.

Iran is studying ways to keep exporting oil and other measures to counter U.S. economic sanctions, state news agency IRNA reported on June 30.