Wednesday 16 April 2014

Projects boom in GCC; $40bn deals in Q1

The projects markets of the Middle East are set to enjoy a record-breaking year in 2014 with more than $40 billion worth of new contracts awarded in the GCC alone in the first quarter, a report said. New contract awards in the GCC will approach $150 billion in the year ending 201


Libya to export first oil since rebel deal

A tanker is due to load 1 million barrels of crude on Tuesday from Libya's reopened Hariga port, its first export shipment since a deal to end months of closures at its main oil terminals, the National Oil Corp (NOC) said. The outages have raised supply concerns on global mar


GE, Aramco launch desal efficiency challenge

GE ecomagination and Aramco Entrepreneurship today launched an open global technology challenge to accelerate the development of solutions focused on improving energy efficiency of seawater desalination. The $200,000 challenge will be awarded to four winners at a prize of $50,000


Kuwait to award $4.3bn new contract

Kuwait plans to award a 1.2 billion dinar ($4.3 billion) contract later this year for the first phase of a project to produce heavy oil at its northern Ratqa field, the head of state-owned Kuwait Oil Company (KOC) said. The project is part of efforts to meet Kuwait's target o


Chevron breaks ground on Kuwait oil project

Saudi Arabian Chevron along with Kuwait Gulf Oil Company broke ground on their integral oil project at Wafra in Kuwait. With this Main Gathering Center (MGC) Revamp Project, Saudi Arabian Chevron and its partner the Kuwait Gulf Oil Company plan to upgrade and maintain facilities


Iraq signs up ABB unit to upgrade power networks

Ventyx, an ABB company, has signed an agreement with the Ministry of Electricity (MOE) in Iraq to provide energy management systems that will help improve power supplies in Iraq from main control centres in Baghdad, Kirkuk and Basra. The MOE is upgrading its existing regional con


Alstom wins $312m gas turbine deal in Iraq

French engineering group Alstom said it had won a contract worth 225 million euros ($312 million) to provide power generation equipment for the Al-Anbar gas-fired combined-cycle power plant being built in the Anbar province of Iraq. Alstom will supply four GT26 gas turbines, four


Lux Assure boosts Mideast presence

Oil and gas asset integrity and corrosion management firm Lux Assure has grown its presence in the Middle East with the appointment of two regional agents as well as a new business development manager. The chemical monitoring specialist has partnered with Middle East Oilfield Ser


200 delegates to attend Kuwait SPE event

More than 200 delegates are set to attend the first SPE Oilfield Water Management Conference and Exhibition, which will offer a focused technical programme in Kuwait next week.   The event, organised by the Society of Petroleum Engineers, will take place on Apri


Topaz wins $11m West Africa contract

Topaz Energy and Marine, a leading offshore support vessel company with primary operations in the Middle East and Caspian, has won a new $11 million contract for its fast growing West Africa operation. Topaz will supply a global oil major with a platform supply vessel, the Topaz

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