Persian Gulf
Business , Exploration & Production , Field Development , Policy & Regulations
E&P Highlights: Jan. 23, 2023
Here’s a roundup of the latest E&P headlines including first gas from an Oman field and new contract awards from the past week in the upstream oil and gas industry.
Exploration & Production , Drilling
UAE’s ADNOC Drilling Secures $980 Million Contract to Hire Offshore Rigs
ADNOC’s offshore operations are supporting the company’s goal to increase production capacity to five million bbl/d by 2030 and enable gas self-sufficiency for the United Arab Emirates (UAE), ADNOC said.
Crude Oil
Oil Prices Ease, Focus Shifts to Next OPEC+ Move
Brent crude futures snapped a three-day rally on Dec. 24 in light trading before the Christmas holidays, but the benchmark ended the week higher, with the market focusing on next steps by OPEC+ and the impact of the Omicron variant.
Technology
Baker Hughes Grabs LNG Turbomachinery Order from Qatar Petroleum
Baker Hughes announced an order with longtime partner Qatar Petroleum to supply multiple main refrigerant compressors (MRCs) for Qatar Petroleum’s North Field East (NFE) project, executed by Qatargas, on Sept. 29.
Subsea , Pipelines
Fugro Completes Phase 1 of Site Investigation Contract for Qatargas North Field
Fugro has completed the first phase of its multidisciplinary offshore site investigation for Qatargas’ North Field production sustainability’s compression phase on July 21.
International , Tankers
Shipping Industry Grapples With Threat In Strait Of Hormuz
A third of the world’s seaborne oil—almost 17 MMBbl/d—passes through the strait, which narrows to just 21 miles and has long been a strategic chokepoint in the Persian Gulf.
Crude Oil , Trade , International
Iran Warns OPEC ‘Might Die’ Due To Russia-Saudi Domination
OPEC+ to extend cuts but Iran’s oil minister laments the growing influence of Russia and Saudi Arabia.
Crude Oil , Imports
China May Crude Oil Imports Drop From Record In April
Cut in imports from Iran is cited for reduction.
Shelf , Deepwater , Energy Transition , Subsea
Leading Offshore Into A Changing Future
OTC kicks off today in Houston and its chairman sees another 50 years of success for offshore energy.
Seismic
Iraq Signs Deal With China’s CNOOC For Seismic Surveys Of Two Oil Blocks
Iraq has signed a contract with China’s CNOOC to conduct a seismic survey for two oil exploration blocks, the oil ministry said on Jan. 31.