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Expansion of oil and gas portfolio brings renewed value across the sector for Saudi Arabia

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ADNOC awards contracts worth US$750mn for drilling-related services

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MEOS Postponed

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OPEC July oil output hits 15-month high as demand recovers, survey show

OPEC oil output rose in July to its highest since April 2020, a Reuters survey found, as the group further eased production curbs under a pact with its allies and top exporter Saudi Arabia phased out a voluntary supply cut. The Organization of the Petroleum Exporting Countries has pumped 26.72 million barrels per day (bpd), the survey found, up 610,000 bpd from June’s revised estimate. Output has risen every month since June 2020 apart from in February. OPEC and allies, known as OPEC+, have been unwinding record output cuts agreed in April 2020, as demand and the economy recover. With [...]

5 ways Artificial Intelligence is maximising value across the oil and gas sector

From initial exploration activities to the end-user, the application of artificial intelligence (AI) in oil and gas is inspiring new ways of approaching exploration, development, production, transportation, refining and sales. In an era of transformation – or oil and gas 4.0 – the ecosystem of technologies and capabilities that make up AI has enormous potential to make the most out of data to unlock efficiencies, reduce downtime and solve problems around human talent. With AI in oil and gas market valued at US$2 billion in 2019 and expected to reach US$3.81 billion by 2025, more oil and gas organisations are [...]

Bahrain starts exploratory offshore drilling for oil and gas

Bahrain's National Oil and Gas Authority (NOGA), in cooperation with the Italian Eni oil company, has started drilling the first exploration oil well in Block No. 1, which is an offshore area of over 2,800 km2, situated in the northern territorial waters of Bahrain with water depth ranging from 10m up to 70m. The drilling is part of the exploration and production sharing agreement signed between NOGA and Eni on May 1, 2019, to pursue petroleum exploration and production activities. Commenting on the development, Bahrain's Oil Minister Sheikh Mohammed Bin Khalifa Al-Khalifa praised King Hamad Bin Isa Al-Khalifa’s sound directives [...]

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