Oil Services

ADNOC Launches Initiative to Level Up Tendering Process

The Abu Dhabi National Oil Company (ADNOC) has implemented an initiative to drive efficiencies in its tendering process to improve its approach to procurement and maximize value for ADNOC and its community of suppliers and service providers, according to ADNOC’s press release.

DP World Acquires Topaz Energy for $1.08 B

DP World announced that it has acquired Topaz Energy and Marine in a deal worth $1.08 billion.

Halliburton Faces More Questioning Over Acquisition of Baker Hughes

Oil services giant Halliburton is facing more questioning from the US Justice Department over the potential acquisition of rival Baker Hughes, reported the Houston Chronicle.

Saipem Cuts Jobs Amid Q2 Losses

Saipem SpA, Italy’s biggest oil and gas contractor, will cut jobs and exit businesses as writedowns led to an unexpected loss and an earnings target reduction.

Oil Prices Prompt Topaz to Extend Ambitions to South America

Topaz Energy and Marine is eyeing expansion into South America in the next two years as the Dubai-based oil services firm looks beyond the current difficulties in the sector caused by the lower oil price,

KBR Appoints Lebanese American to Key MENA Post

KBR, a global technology, engineering, procurement and construction company has appointed Jay Ibrahim as the president of Engineering and Construction for the Middle East and North Africa (Mena) region.

Schlumberger Set for Significant Job Cuts

Oil services provider Schlumberger Ltd. says it is cutting 9,000 jobs in response to falling oil prices.

Statoil Awards Service Contracts for Seven Bases

Statoil has awarded the service contracts for seven bases for the company in Norway.

Maridive posts $22.8m in losses during first half of 2012

Following a decrease in the volume of projects, contracts and occupancy rates, Maridive and Oil Services (MOIL) Egypt, faces a tough fiscal position. MOIL recently completed most of its contracts, including Aramco Saudi and the Indian project Onge and revenues from the projected during the second quarter of 2012 have come to a halt.

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