Picture for illustrative purpose only.
Vessel will be delivered by Ocean Yield ASA to Sabic's Houston base in December
The French oil major has allegedly passed on vital information to Qatar about Iran's South Pars gas field, an enormous offshore natural gas reserve, which the two countries share
The company continued to remain profitable in 2016 despite taking a charge on the currency devaluation in Egypt and a lower share of production
Egypt's foreign reserves rose to $26.363bn at the end of January, but were still about $10bn less than the reserves before an uprising in 2011 ushered in a period of political turmoil
The planned pipeline project, which requires an estimated investment of $1.2bn, would connect Iran's vast gas reserves with Omani consumers as well as with liquefied natural gas (LNG) plants in Oman that could re-export the gas
Lebanon has insisted that it will not cede the 870 square kilometres to Israel or share it with anyone, but said it is ready to allow the United Nations to demarcate the disputed zone to determine the legal owner, a suggestion rejected by Israel
A senior official at Iran's oil ministry said that Total has officially started the development of South Pars Phase 11 in the Persian Gulf, effectively resuming operations in an Iranian energy project after a seven-year hiatus.
Aramco would over time add 250,000 barrels per day of crude oil from Berri
Seismic studies, which began in 2013, indicate that Lebanon possesses several trillion cubic feet of oil and gas within its territorial waters
Subsea Inspection Service launched by provides operators with greater efficiency and improved confidence in the performance of their offshore and subsea operations
The move is the latest stage of the Anglo-Dutch company's push to reduce debt after buying smaller rival BG Group for $70bn, bringing its total divestments since April 2015 to 8.7bn
The analysis included dent modelling, member/joint component strengthening, additional pile modelling, and soil convergence, as well as extensive load modeling to recommend equipment removal if necessary
The project scope of work includes engineering, procurement, fabrication, transportation, installation, demolition, hook up, testing, and pre-commissioning of various components for offshore oil facilities in the Gulf
The contract is for 17 jackets, the steel frames supporting offshore rigs, for the Berri and Marjan offshore oilfields in the Gulf, north of the port town of Jubail
For this project, K-SURE will provide commercial and political risk cover for approximately 80% of the financing. Standard Chartered Bank, Arab Petroleum Investments Corporation (APICORP), and the Korea Development Bank acted as lead arrangers.
According to the contract, the charter of platform Noble Roger Lewis was extended to March 2022, while the charter of Noble Scott Marks rig was extended to July 2022