ADES Inks Contract Renewal for Offshore Jackup Rigs in Saudi Arabia
ADES Holding Company announced that it renewed the contract for one of its standard offshore jackup rigs.
News / International
South Pars Gas Refinery Shows Strong Performance in 2024/25
The first South Pars Gas Refinery achieved strong operational performance during the Iranian year 1403 (March 2024 – March 2025), producing over 10 billion cubic meters (bcm) of sweetened gas, according to director Ali Ahmadi.
PETRONAS, PETROVIETNAM Sign KPA for Developing PM3 Commercial Arrangement Area
PETRONAS and PETROVIETNAM signed a Key Principles Agreement (KPA) to extend the Production Sharing Contract (PSC) and Upstream Gas Sales Agreement (UGSA) for the PM3 Commercial Arrangement Area (CAA) for an additional 20 years.
Aramco Makes New 14 Discoveries in the Eastern Region, Empty Quarter
Saudi Minister of Energy, Abdulaziz bin Salman bin Abdulaziz, announced that the Saudi Arabian Oil Company (Aramco) has discovered 14 Arabian oil and natural gas fields and reservoirs in Eastern Region and the Empty Quarter.
AIQ Collaborates with Gulf Energy Information to Develop ENERGYai
AIQ has entered a Strategic Collaboration Agreement with Gulf Energy Information (Gulf) to enhance the development of ENERGYai by integrating Gulf’s vast energy sector data assets with AIQ’s advanced AI capabilities.
NIDC to Invest around $1 billion in Drilling Equipment
The CEO of the National Iranian Drilling Company (NIDC), Mehran Makvandi, announced that the National Iranian Oil Company will invest $800 million to purchase 15 onshore drilling rigs this year. An additional $200 to $300 million from the company’s foreign exchange (FOREX) reserves will be allocated for ancillary equipment, such as cementing pumps and nitrogen units.
Shell’s Upstream Production Records 1.859 mmboe/d in Q4 2024
Shell company announces its results for Q4 2024, and its Q1 2025 outlook.
OPEC+ Reaffirms to Increase Production by 411,000 bbl/d in May
The eight OPEC+ countries reaffirmed to start gradual increase in production starting from 1 April 2025 by adding 411,000 barrels per day (b/d), equivalent to three monthly increments, in May 2025.
US Declares New Reciprocal Tariff Excluding Energy, Certain Minerals Goods
President Donald J. Trump announced the impose of several new tariffs to strengthen the international economic position of the US and protect American workers excluding the energy and certain mineral goods that are not available in the country
Baker Hughes Awarded Contract to Supply Drilling Services to DPE
Baker Hughes announced that it won a multi-year contract from Dubai Petroleum Establishment (DPE), for and on behalf of Dubai Supply Authority (DUSUP), to provide integrated coiled-tubing drilling services for the company’s Margham Gas storage project.
