oil-gas
22 August 2024
Global Energy Infrastructureoil-gas
Aug 22, 2024Global Energy Infrastructure
Fugro, the world’s leading Geo-data specialist, has been awarded a long-term contract to provide construction support to Van Oord for offshore wind farms across Europe for three years, with an option to extend.
This will involve multiple remotely operated vehicle (ROV) systems, construction equipment, expert personnel, and related services on board Van Oord vessels, Calypso and Subsea Viking. Fugro will assist with cable laying, trenching, and survey operations throughout Europe, providing vital Geo-data to inform positioning and construction of the resources to de-risk the projects and optimise future operations. The ROV spreads provided by Fugro will be permanently stationed on the vessels for three years, ensuring continuous support.
This latest contract award comes after successful delivery of survey and positioning services, metocean forecasting and studies, UXO surveys, and geoconsultancy support over the years.
Stuart Hamilton, Positioning and Construction Support Service Line Director, commented, “We are delighted to continue our collaboration with Van Oord as we both commit to innovative and sustainable solutions to achieve net-zero targets. Our expertise and global support will be crucial to Van Oord in ensuring the efficient and successful delivery of their offshore wind developments to meet the rising demand for renewable energy.”
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3T Secures Contract With Oil India For Advanced Simulator Technology3t Drilling Systems secured a contract from Oil India Ltd to provide advanced simulator technology to aid and enhance its workforce training. 3t will deliver its DrillSIM:5000 Classic and Cyber models as part of a five-year partnership for the systems, and is set for installation in Q3 of 2025.
The DrillSIM:5000 Classic provides hands-on experience in handling well control situations and dealing with equipment malfunction. The DrillSIM:5000 Cyber provides drilling and well control simulation in the simulated environment of a modern rig with joystick controls.
Both simple and complex tasks and scenarios can be recreated to verify skills and competency in real-world situations and will be delivered to the Oil India Limited in partnership with 3t Drilling Systems’ in-country partner, Siam Services India.
Drilling Contractor
oil-gas
19 June 20255 min read3T Secures Contract With Oil India For Advanced Simulator Technology
Drilling Contractor
19 June 2025
oil-gas
Oman Awards $272M Gas Pipeline ProjectOman’s state-owned OQ Gas Networks (OQGN) has awarded the construction of a $272 million gas pipeline project to Egypt’s Petroleum Projects Company Petrojet and Partners.
The 193km pipeline will start from the Fahud field in central Oman and terminate in the northern industrial city of Sohar, OQGN said in a disclosure made in the Muscat Security Market, adding that the project will take 24 months to complete.
Fahud was one of Oman’s biggest oil and gas fields discovered in 1963, operated by state-controlled Petroleum Development Oman.
Sohar Freezone is home to Oman’s largest port and industrial complex, with a capacity of handling about 60 million tons of cargo. It boasts well-developed industrial activities in the petrochemicals, metals and energy sectors.
“The pipeline will meet the increasing gas demand at the Sohar Freezone’s projects,” OQGN said in a statement.
OQGN owns and operates the Gulf state’s 4,000km long gas pipeline grid. The company is among several subsidiaries indirectly owned by the sovereign Oman Investment Authority, possibly candidates for full or partial privatisation through listings on the Muscat stock exchange.
Listed on the Muscat stock exchange in October 2023, OQGN last year secured $1.2 billion in financing through agreements with 16 local and regional banks to support its operations and refinancing initiatives.
OQGN is trading at around OR0.16 ($0.41) and while its share price has fluctuated due to rising geopolitical tensions in the region as a result of the Israel-Iran conflict, it is still up by about 20 percent year to date.
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Arabian Gulf Business Insight
oil-gas
19 June 20255 min readOman Awards $272M Gas Pipeline Project
Arabian Gulf Business Insight
19 June 2025
oil-gas
U.S. Senate Bill Proposes $1 Billion Tax Break For Oil And Gas Producers(Bloomberg) – Senate Republicans included a tax break estimated to be worth more than $1 billion for oil and gas producers in their version of President Donald Trump’s sprawling fiscal package.
The provision would allow energy companies subject to a 15% corporate alternative minimum tax to deduct certain drilling costs when calculating their taxable income. Companies including ConocoPhillips, Ovintiv Inc. and Civitas Resources, Inc. lobbied in favor of it.
The change was included in the legislation released Monday by Republicans on the Senate tax writing committee, which would slash tax credits for wind, solar, electric vehicles and hydrogen.
The tax break for drilling costs is nearly identical to a bill by Republican Senator James Lankford. His home state of Oklahoma is among the top oil and gas producing states.
Lankford’s bill, called the Promoting Domestic Energy Production Act, would cost the U.S. government $1.1 billion over 10 years, according to the non-profit Tax Foundation, which cited an estimate from the non-partisan Joint Committee on Taxation.
A representative for Lankford declined to comment.
Earlier this year, Lankford told told CNBC that his bill was necessary to prevent independent oil and gas producers from being squeezed by the Corporate Alternative Minimum Tax, enacted under former President Joe Biden to prevent corporations from using deductions and credits to pay little or no taxes.
“If we can’t get rid of that entirely we at least need to give some relief to those folks who are independent producers,” Lankford said. “We need to be able to get some relief to them so they’re not constantly worried about it.”
Some Democratic lawmakers, along with environmental and watch dog groups including Friends of the Earth and Public Citizen, criticized the Senate bill as a giveaway to fossil fuel companies.
“There is a giant give away to the oil industry tucked right into this bill,” said Senator Elizabeth Warren, a Massachusetts Democrat. “They are going to get a special get out of paying your taxes free.”
Other supporters of the measure, which wasn’t included in the House version of the bill, include the Domestic Energy Producers Alliance, founded by oil billionaire and Trump donor Harold Hamm.
It was also backed by the American Exploration & Production Council, which represents independent oil and gas producers including Oklahoma City-based Devon Energy Corp.
“America and the world need affordable, reliable energy – and this common-sense legislation will enable domestic producers to more quickly invest in production and meet this critical need,” said Anne Bradbury, the group’s chief executive officer.
World Oil
oil-gas
18 June 20255 min readU.S. Senate Bill Proposes $1 Billion Tax Break For Oil And Gas Producers
World Oil
18 June 2025
oil-gas
Mitsubishi In Talks To Acquire $8 Billion U.S. Gas, Pipeline Assets From Aethon(Reuters) — Mitsubishi Corp. is in talks to acquire the U.S. shale production and pipeline assets of Aethon Energy Management for roughly $8 billion, a person familiar with the matter said on June 16.
The deal, should it be struck, would give the Japanese conglomerate a substantial natural gas operation adjacent to the U.S. Gulf coast and the energy export facilities being developed along it.
Talks between Mitsubishi and Aethon are ongoing, said the source, who cautioned that there was no guarantee a transaction would be agreed and spoke on condition of anonymity to discuss confidential deliberations.
While the assets are owned and operated by U.S. energy-focused investment firm Aethon, fellow money managers RedBird Capital Partners and Canada's Ontario Teachers' Pension Plan also hold sizable stakes.
Aethon and RedBird declined comment. OTPP did not immediately respond to a comment request. Mitsubishi could not be reached outside of normal business hours in Japan.
The upstream assets of Aethon, which primarily focus on the Haynesville shale formation in Louisiana and East Texas, constitute one of the largest privately held U.S. gas producers.
Reuters reported in November that Aethon was exploring options for its operations, which also include more than 1,400 miles (2,250 km) of pipelines across the Haynesville basin and Wyoming, where Aethon also has some production assets.
Bloomberg News earlier on Monday reported the talks between Mitsubishi and Aethon, citing people familiar with the matter.
Pipeline Gas Journal
oil-gas
16 June 20255 min readMitsubishi In Talks To Acquire $8 Billion U.S. Gas, Pipeline Assets From Aethon
Pipeline Gas Journal
16 June 2025
oil-gas
Blm Fast-Tracks Review Of 74-Mile Montana Gas Pipeline Project(P&GJ) — The Bureau of Land Management (BLM) has launched an environmental review of a proposed 74-mile natural gas pipeline that would run from Helena to Three Forks, Montana.
The project is being reviewed under an accelerated 14-day process in response to the national energy emergency declared by President Donald J. Trump.
If approved, the pipeline would be developed by NorthWestern Energy to expand natural gas capacity in western Montana and strengthen regional energy infrastructure. The proposed 16-inch buried pipeline would be built in phases from spring 2026 through fall 2029.
The route would cross approximately seven miles of BLM-managed public lands and follow an existing utility corridor to limit new ground disturbance and reduce ecological impacts.
BLM officials say the agency plays a key role in managing access to critical minerals and traditional energy resources on federal lands, supporting both national energy security and industrial operations.
Additional details can be found on the BLM National NEPA Register.
Pipeline Gas Journal
oil-gas
12 June 20255 min readBlm Fast-Tracks Review Of 74-Mile Montana Gas Pipeline Project
Pipeline Gas Journal
12 June 2025
oil-gas
Khalda Petroleum To Produce 5,400 Barrels Daily From 2 New WellsThe Ministry of Petroleum and Mineral Resources announced on Thursday 12/6/2025 that Khalda Petroleum Company is set to bring two new oil wells online later in June with an estimated initial combined production of 5,400 barrels of crude oil per day.
In a statement, the ministry said that this promising overture falls within the framework of the ministry’s continued efforts to accelerate linking newly discovered oil fields with production lines.
This will help stabilize Egypt’s local energy market and reduce dependency on imported oil.
Gulf Oil and Gas
oil-gas
12 June 20255 min readKhalda Petroleum To Produce 5,400 Barrels Daily From 2 New Wells
Gulf Oil and Gas
12 June 2025
oil-gas
Adnoc Gas Takes Fid, Awards $5 Billion In Contracts For Rgd ProjectADNOC Gas has taken a FID and awarded $5 billion in contracts for the first phase of its Rich Gas Development (RGD) Project.
The contracts involve expanding key processing units to increase throughput and improve operational efficiency across four ADNOC Gas facilities: Asab, Buhasa, Habshan and the Das Island liquefaction facility. The company intends to take FIDs on two additional phases at Habshan and Ruwais to deliver greater production capacity.
EPCM contracts have been awarded in three tranches for phase 1. The first tranche, valued at $2.8 billion, has been awarded to Wood for the Habshan facility. The remaining two tranches – $1.2 billion for Das Island and $1.1 billion for the Asab and Buhasa facilities – have been awarded to Petrofac and Kent.
Phase 1 of the RGD project focuses on optimizing and de-bottlenecking existing gas assets while unlocking new and valuable gas streams.
Drilling Contractor
oil-gas
11 June 20255 min readAdnoc Gas Takes Fid, Awards $5 Billion In Contracts For Rgd Project
Drilling Contractor
11 June 2025
oil-gas
Kent Awarded $1.1 Billion Contract From Adnoc GasKent announces that it has been awarded a major Engineering, Procurement and Construction Management (EPCM) contract from ADNOC Gas.
The value of the contract is approximately $1.1 billion.
The Project is related to the optimisation and expansion of its Asab and Buhasa gas processing facilities. This award marks a significant chapter in Kent’s decades-long partnership with ADNOC and strengthens its position as a leading EPCM contractor in the region.
The award is part of ADNOC Gas’ broader $5 billion Rich Gas Development (RGD) Project, a strategic initiative designed to unlock new gas reservoirs, boost liquid gas exports and enhance gas self-sufficiency for the UAE. Kent’s scope will focus on debottlenecking and optimising existing assets at the Asab and Buhasa sites, enabling increased throughput and improved operational efficiency to meet growing energy demands.
With this award, Kent continues to build on its established track record of delivering complex EPCM scopes for ADNOC and other leading operators across the Middle East. The company’s extensive regional presence, technical depth and longstanding client relationships have made it a trusted partner in delivering safe, innovative and sustainable project outcomes.
Tush Doshi, Chief Operating Officer at Kent, commented: “This contract award is a clear testament to the strength of our relationship with ADNOC and our track record of successful delivery in the UAE. We are proud to support ADNOC Gas’ strategic ambitions with this important work at Asab and Buhasa. It reflects the confidence placed in Kent’s EPCM expertise and our commitment to excellence, safety and long-term value creation.”
The Rich Gas Development project plays a vital role in ADNOC Gas’ strategy to grow between 2023 and 2029. ADNOC Gas has also underscored its commitment to enhancing In-Country Value (ICV), with plans to create hundreds of new technical roles by 2029, contributing to the UAE’s national economic growth.
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Saudi Gulf Projects
oil-gas
11 June 20255 min readKent Awarded $1.1 Billion Contract From Adnoc Gas
Saudi Gulf Projects
11 June 2025
oil-gas
Developers Plan 18.7 Gw In Gas Power Additions By 2028, Eia Says(Reuters) — Developers plan to add 18.7 gigawatts (GW) of combined-cycle capacity to the U.S. power grid by 2028, following minimal additions in the previous year, the Energy Information Administration said on June 11.
About 4.3 GW is already under construction, according to the EIA.
Most of the country's existing natural gas-fired capacity comes from combined-cycle gas turbines (CCGTs), which are flexible and efficient power generators.
Additions of 1.6 GW of CCGT are planned for 2025, the EIA said, a sharp increase from the 98 MW added in 2024 at Louisiana's Plaquemines plant.
The slowdown in recent CCGT projects was partly due to a growing shift toward renewables such as solar and wind, driven in part by lower construction costs and federal incentives.
More than half of the 3.3 GW expected in 2026 is already under construction, while most of the additions planned for 2027 are not yet under construction.
An additional 10.6 GW could be added in 2028, potentially marking the largest annual increase in CCGT capacity since 2018, the EIA said.
However, these projects need to move through regulatory processes and secure equipment, making their completion timelines uncertain.
Pipeline Gas Journal
oil-gas
11 June 20255 min readDevelopers Plan 18.7 Gw In Gas Power Additions By 2028, Eia Says
Pipeline Gas Journal
11 June 2025
oil-gas
Adnoc Gas Awards $5 Billion Contracts For Rich Gas Development (Rgd) ProjectUAE’s ADNOC Gas Plc , a world-class integrated gas processing and sales company, announced it has taken a FID and awarded $5 billion in contracts for the first phase of its Rich Gas Development (RGD) Project, marking a key milestone in the company’s largest-ever capital investment.
EPCM contracts have been awarded in three tranches for phase 1.
The first tranche, valued at $2.8 billion, has been awarded to Wood for the Habshan facility.
The remaining two tranches – $1.2 billion for the Das Island liquefaction facility and $1.1 billion for the Asab and Buhasa facilities – have been awarded to two consortia: Petrofac; and Kent Plc.
The contracts involve expanding key processing units to increase throughput and improve operational efficiency across four ADNOC Gas Facilities: Asab, Buhasa, Habshan (Onshore), and the Das Island liquefaction facility (Offshore). The company intends to take FIDs on two additional phases of the RGD project at Habshan and Ruwais to enable the delivery of greater production capacity to meet growing market demands.
The RGD project will enable the development of new gas reservoirs, which are key to boosting liquid gas exports, supporting gas self-sufficiency in the UAE, and providing essential feedstock to the country’s growing petrochemical industry.
Fatema Al Nuaimi, Chief Executive Officer of ADNOC Gas, said: “The FID and contract awards for the first phase of the Rich Gas Development project mark a significant milestone in ADNOC Gas’ strategy to deliver +40% EBITDA growth between 2023 and 2029. This strategic investment is expected to deliver significant new value for our shareholders and enable continued sustainable growth for the company, our employees, and the UAE.”
Phase 1 of the RGD project focuses on optimizing and debottlenecking existing gas assets while unlocking new and valuable gas streams. As part of ADNOC Gas’ long-term strategy, which is focused on growth and futureproofing its business, the RGD project aligns with the company’s vision to deliver important growth initiatives between 2025 and 2029. Additionally, the RGD project highlights ADNOC Gas’ commitment to enhancing In-Country Value (ICV), with plans to create hundreds of new, field-based technical positions by 2029, further contributing to the UAE’s economic growth.
To Promote your Products and Services on SaudiGulf Projects, please visit
"Advertise" Section
Saudi Gulf Projects
oil-gas
10 June 20255 min readAdnoc Gas Awards $5 Billion Contracts For Rich Gas Development (Rgd) Project
Saudi Gulf Projects
10 June 2025
oil-gas
Adnoc Gas Awards $5 Billion In Contracts For Rich Gas Development ProjectADNOC Gas has reached final investment decision (FID) and awarded $5 billion in contracts for the first phase of its Rich Gas Development (RGD) Project, marking a key milestone in the company’s largest-ever capital investment.
The contracts involve expanding key processing units to increase throughput and improve operational efficiency across four ADNOC Gas Facilities: Asab, Buhasa, Habshan (Onshore), and the Das Island liquefaction facility (Offshore). The company intends to take FIDs on two additional phases of the RGD project at Habshan and Ruwais to enable the delivery of greater production capacity to meet growing market demands.
The RGD project will enable the development of new gas reservoirs, which are key to boosting liquid gas exports, supporting gas self-sufficiency in the UAE, and providing essential feedstock to the country’s growing petrochemical industry.
EPCM contracts have been awarded in three tranches for phase 1. The first tranche, valued at $2.8 billion, has been awarded to Wood for the Habshan facility. The remaining two tranches – $1.2 billion for the Das Island liquefaction facility and $1.1 billion for the Asab and Buhasa facilities – have been awarded to two consortia: Petrofac; and Kent Plc.
“The FID and contract awards for the first phase of the Rich Gas Development project mark a significant milestone in ADNOC Gas’ strategy to deliver +40% EBITDA growth between 2023 and 2029," said Fatema Al Nuaimi, Chief Executive Officer of ADNOC Gas. "This strategic investment is expected to deliver significant new value for our shareholders and enable continued sustainable growth for the company, our employees, and the UAE.”
Phase 1 of the RGD project focuses on optimizing and debottlenecking existing gas assets while unlocking new and valuable gas streams. As part of ADNOC Gas' long-term strategy, which is focused on growth and futureproofing its business, the RGD project aligns with the company’s vision to deliver important growth initiatives between 2025 and 2029.
Additionally, the RGD project highlights ADNOC Gas’ commitment to enhancing In-Country Value (ICV), with plans to create hundreds of new, field-based technical positions by 2029, further contributing to the UAE’s economic growth.
World Oil
oil-gas
10 June 20255 min readAdnoc Gas Awards $5 Billion In Contracts For Rich Gas Development Project
World Oil
10 June 2025
oil-gas
Nigeria'S $5 Billion Oil-Backed Loan From Aramco Delayed By Oil Price Drop, Sources Say(Reuters) — Nigeria and Saudi Arabian oil company Aramco are struggling to reach an agreement on a record $5 billion oil-backed loan after a recent decline in crude prices sparked concern among banks that were expected to back the deal, four sources told Reuters.
The facility would be Nigeria's largest oil-backed loan to date and Saudi Arabia's first participation of this scale in the country, although the decline in oil price could shrink the size of the deal, the sources said.
Nigeria's President Bola Tinubu, two of the sources said, first broached the loan in November when he met with Saudi Crown Prince Mohammed bin Salman in Riyadh at the Saudi-African Summit. Details and progress on the loan talks have not been previously reported.
The slow progress in discussions reflects the strain of the recent oil price drop, caused largely by a shift in OPEC+ policy to regain market share rather than curtail supply.
Brent has fallen about 20% to around $65 per barrel from above $82 in January. A lower oil price means Nigeria could need more barrels to back the loan, but years of under-investment are complicating its ability to meet production goals.
Tinubu sought approval for $21.5 billion in foreign borrowing last month to bolster the budget, and the $5 billion oil-backed facility under discussion with Aramco would be part of that, sources said.
The banks involved in the talks that are expected to co-fund part of the loan with creditor Aramco have expressed concerns about oil delivery, which has slowed discussions, sources said.
Gulf banks and at least one African lender are involved, they added. Reuters could not establish the banks' identities.
"It's hard to find anyone to underwrite it," one source said, citing concerns over the availability of the cargoes.
Saudi Aramco declined to comment. Nigeria's state-owned oil company NNPC did not comment, and neither did the finance or petroleum ministries.
Scarce Oil
Nigeria has years of experience taking out - and repaying - oil-backed loans - which the government uses for budget support, shoring up foreign reserves or to revamp state-owned refineries.
At $5 billion, the Aramco loan would be backed by at least 100,000 barrels per day of oil, the sources said.
However, it would almost double the roughly $7 billion of oil-backed loans taken in the last five years.
Nigeria is using at least 300,000 bpd to repay NNPC's other oil-backed loans, though one facility is expected to be paid off this month.
The amount of oil going towards repaying existing oil-backed loans is fixed, but when the crude price falls, it takes longer to repay them.
Additionally, lower prices mean the NNPC has to funnel more crude oil to joint-venture partners, from international majors like Shell to local producers like Oando or Seplat, for its portion of operation costs.
"You have to either find more oil, or find a way to renegotiate those deals," another source said.
Nigerian trading firm Oando is expected to manage the offtake of the physical cargoes, the sources said.
Oanda did not comment.
NNPC is trying to boost output, while Tinubu issued an executive order aimed at cutting production costs, which would free more money from each barrel.
Africa's largest oil exporter assumed a price of $75 per barrel in its budget, with production of 2 million bpd. But in April, it pumped just under 1.5 million bpd, according to the May OPEC market report.
Pipeline Gas Journal
oil-gas
10 June 20255 min readNigeria'S $5 Billion Oil-Backed Loan From Aramco Delayed By Oil Price Drop, Sources Say
Pipeline Gas Journal
10 June 2025
oil-gas