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SIDEBAR × * Home * E&P * Industry * Petrochemicals * Energy Transition * HSE * Technology * Events * Event List * Event News * ADIPEC Videos * Webinar * Magazine * Magazine Archive * Subscribe * More * About us * Contact Us * About Us * Advertise * Contact Us * Event Listings * Magazine Archive * Privacy Policy * Subscribe * Terms of Use Oil Review Middle East ORME * Home * E&P * Industry * Petrochemicals * Energy Transition * HSE * Technology * Events * Event List * Event News * ADIPEC Videos * Webinar * Magazine * Magazine Archive * Subscribe * More * About us * Contact Us READ THE DIGITAL MAGAZINE IN THE SPOTLIGHT Both onshore and offshore operations, and oilfield services did well. (Image source: Adnoc Drilling) Exploration & Production ADNOC DRILLING SEES STEADY REVENUE INCREASE IN 2024 Details Created: 05 August 2024 Driven by operational expansion across all business segments, ADNOC Drilling’s second quarter and first half 2024 revenue increased to US$935mn, surpassing US$1.8bn, up year-on-year by 29% and 26% respectively There was a steady revenue increase in both onshore and offshore operations, and in oilfield services as well. “ADNOC Drilling has continued to deliver on its strategic initiatives and has successfully closed the first half of the year on a strong note, achieving multiple milestones. “The Company’s performance for the period is a continued reflection of our unwavering commitment to operational excellence and efficiency in every aspect of our business. Our achievements for the period are a testament to the relentless dedication of our people, whose efforts are central to delivering outstanding service to our customers and maximising value for our shareholders,”said Abdulrahman Abdulla Al Seiari, CEO, ADNOC Drilling. The strong top-line translated into record EBITDA both in the quarter and the first half. Second quarter EBITDA increased by 37% year-on-year and 8% sequentially to US$472mn, yielding a 50% EBITDA margin. Consistency in revenue growth and cost-cutting strategies led to US$909mn EBITDA in the first half of the year, up 34% year-on-year and with a margin increase to 50%. Net profit for the quarter also grew, up 29% year-on-year and 7% sequentially to US$295mn, driven by the increase in EBITDA, while for the first half the figure stood at US$570mn, up 28% year-on-year. At the end of the second quarter, the fleet consisted of 140 rigs (136 owned plus four lease-to-own land rigs), up from 137 at the end of the first quarter due to the addition of three land rigs. Encouraged by the positive results, the Board of Directors has approved an interim dividend of US$394mn, +10% year-on-year under new enhanced and progressive dividend policy, equivalent to 9.0468 fils per share. The interim dividend distribution is expected to be in the last week of August 2024, to all shareholders of record as of August 12, 2024. The ADIPEC 2024 Technical Conference has received record submissions. (Image source: DMG) Event News RECORD SUBMISSIONS FOR ADIPEC 2024 TECHNICAL CONFERENCE Details Created: 01 August 2024 The ADIPEC 2024 Technical Conference has received a record 5,977 submissions, a 16% increase over last year Major growth in submissions was seen in the AI and Digital Transformation and Energy Transition and Decarbonisation categories, and increased submissions were received from African and Arab states. The ADIPEC Technical Conference is a key part of ADIPEC, the world’s largest energy event, which takes place on 4-7 November 2024 in Abu Dhabi. Organised by SPE, the Technical Conference this year will feature 159 sessions across 12 categories, for which energy experts and engineers from around the world submit their work to be considered for presentation. Dr. Khaled Abdul Monem Al Kindi, senior vie president, Upper Zakum, ADNOC Offshore and ADIPEC 2024 Technical Conference Programme chair, said,“I am immensely proud to announce a historic milestone of 5,977 technical submissions received this year. This unprecedented volume of contributions underscores ADIPEC's vital role as a premier forum for innovative dialogue and exchange within the global energy sector. I extend my heartfelt thanks to all authors – the pioneering experts that continue to drive our industry forward, fostering the advancements and collaborative spirit necessary to meet the evolving demands of our world.” BRINGING TOGETHER THE CHANGEMAKERS As a key part of ADIPEC’s portfolio of 10 conferences, the ADIPEC Technical Conference brings together the brightest minds and technical experts from across the energy value chain – the changemakers at the forefront of engineering, technology and industry innovation. The Energy Transition and Decarbonisation and AI and Digital Transformation saw jumps in submissions of 38% and 32% respectively. These increases reveal the energy industry’s growing focus on emerging digital technologies and efforts to decarbonise in support of the energy transition, which are a major focus of ADIPEC this year, reflected across its dynamic conference and exhibition agenda. A significant increase was also recorded in the number of submissions from Arab and African countries over last year, rising 50% and 28% respectively. Double-digit growth was also recorded in submissions from the Asia & Pacific Region, North America, and the Middle East. The ADIPEC Technical Conference also saw experts from 25% more companies submit their work for presentation. Christopher Hudson, president of dmg events, the organiser of ADIPEC, said, "Decarbonisation presents many challenges and opportunities for all sectors. ADIPEC’s focus on platforming low-carbon energy innovations to power industry, empower lives, and accelerate global prosperity makes its Technical Conference a critical forum to advance a sustainable, secure and equitable energy future. This year’s record number of submissions, along with the substantial increases in geographical and category-specific contributions, highlights the alignment of our agenda with the industry's needs and the global commitment to be part of the solution." The offshore SARB field has seen a 25% increase in production. (Image source: ADNOC) Technology ADNOC HIKES PRODUCTION WITH AI-ENABLED TECHNOLOGIES Details Created: 31 July 2024 ADNOC has announced that its offshore Satah Al Razboot (SARB) field has increased production capacity by 25% to 140,000 bpd through the implementation of advanced digital technologies The digital solutions implemented onsite at SARB allow the field to be operated remotely from Zirku island, 20km away. Remote monitoring, smart well operations and production management technologies are integrated at the remote control centre for optimised real-time decision-making. This has enabled the accelerated growth in field capacity with reduced costs and emissions. The field’s digitalisation will enable the deployment of additional AI solutions to further enhance and optimise operations. AIQ solutions DrillRep and OptiDrill process data from rigs and wells at the field, enhancing drilling efficiency and optimisation. By utilising daily drilling data reports and rig sensor data, AIQ’s technology supports drilling operations with the necessary insights and actions to optimise the drilling process. Abdulmunim Saif Al Kindy, ADNOC Upstream executive director, said, “AI and digitalisation are at the heart of ADNOC’s smart growth strategy to help responsibly meet the world’s growing energy demand. By deploying industry-leading technologies at SARB field, we have increased production capacity while enhancing the safety, sustainability and efficiency of our operations, strengthening ADNOC’s position as one of the world’s lowest-cost and least carbon intensive energy producers.” See also https://oilreviewmiddleeast.com/technical-focus/adnoc-accelerates-deployment-of-robowell-solution https://oilreviewmiddleeast.com/technical-focus/the-ai-revolution-in-oil-and-gas The agreements will boost production in the Mediterranean and Suez Gulf. (Image source: Adobe Stock) Exploration & Production EGYPT SIGNS AGREEMENTS TO INCREASE OIL & GAS PRODUCTION Details Created: 29 July 2024 Egypt’s Minister of Petroleum and Mineral Resources, Karim Badawi, has signed agreements to boost oil and gas production with Shell Egypt and Cheiron Energy to boost oil and gas production in the Mediterranean and Suez Gulf The minister, Shell Egypt’s vice president and country chair Dalia El Gabry, and Egyptian General Petroleum Corporation (EGPC) chairman Alaa El Batal have signed an agreement between EGPC, Shell and Malaysia’s Petronas to invest US$222mn in the 10th phase of gas production in the West Delta Deep offshore area to boost production. It will involve the drilling of three wells to produce natural gas and establish marine facilities to bring the wells into production. Before the signing, Badawi and El Gabry held a meeting where the Minister stressed the government’s commitment to working with Shell, a key player in Egypt’s energy sector, to increase gas production in the Mediterranean, while El-Gabry confirmed Shell’s commitment to Egypt and its plans to invest in new exploration and production projects. The minister also met with a delegation from Cheiron Energy and signed a US$120mn deal with the company and KUFPEC to boost oil production in the Suez Gulf. The agreement includes drilling nine wells in the Geisum and Tawila West area in the Suez Gulf, including three exploration wells. It is envisaged that the investment will increase oil and gas production in the Gulf of Suez from 21,000 bpd to 26,000 bpd. Two Middle East countries feature in the top 5 countries with most recoverable reserves. (Image source: Adobe Stock) Industry SAUDI ARABIA LEADS IN RECOVERABLE OIL RESERVES: RYSTAD ENERGY Details Created: 29 July 2024 Saudi Arabia tops the list of countries with the most recoverable oil, with 247bn barrels, according to new research from Rystad Energy Iraq also features in the list of the top five countries with most recoverable oil, with 105bn barrels, coming in fifth place. The USA is second with 156bn barrels, Russia third with 143bn barrels and Canada fourth with 122bn barrels. However, global recoverable oil reserves could be insufficient to meet demand unless there is a swifter transition to electric vehicles, according to Rystad Energy’s latest research, which shows global recoverable oil reserves standing at around 1,500 billion barrels, down around 52 billion barrels from its 2023 analysis. The largest downward revisions are seen in Saudi Arabia, where development priorities have shifted from offshore capacity expansions to onshore infill drilling. The only country with any significant increase in 2024 is Argentina, with a gain of 4bn barrels thanks to the derisking of shale projects in the Vaca Muerta formation. Rystad’s estimates of total recoverable oil resources have fallen by 700bn barrels since 2019 due to reduced exploration activities. Exploration has fallen as investors fear stranded assets due to the ongoing electrification of vehicles and the expected decline in both oil demand and crude prices. “The world’s remaining oil reserves are insufficient to support oil demand if there is no transition to electric vehicles. Attempts to limit the supply of oil will have hardly any effect on limiting global warming. Instead, the only feasible way of keeping global temperatures rising less than 2.0 degrees Celsius is to ensure fast electrification of road transportation,” says Per Magnus Nysveen, head of Analysis at Rystad Energy. Rystad Energy also reports proven oil reserves at 449bn barrels, which signifies remaining oil reserves if no new development projects were to be approved and all exploration activities were stopped. This is a significant upward revision since 2023, driven by increased onshore infill drilling in Saudi Arabia. The acquisition will strongly boost H&P's Middle East presence. (Image source: Adobe Stock) Industry HELMERICH & PAYNE SET FOR MIDDLE EAST EXPANSION WITH NEW ACQUISITION Details Created: 26 July 2024 Drilling contractor Helmerich & Payne (H&P) is to acquire global drilling company KCA Deutag, significantly boosting its Middle East presence The acquisition will accelerate H&P’s international growth strategy, providing immediate and significant exposure to land operations in key markets in the Middle East, which generated around 70% of KCA Deutag’s calendar year 2023 operating EBITDA. Through the transaction, H&P will increase its Middle East rig count from 12 to 88 rigs, 71 of which are in Saudi Arabia, Oman and Kuwait. Based on award activity to date, the pro forma company would be one of the larger rig providers in the Middle East. With KCA Deutag, H&P will have a strong geographic and operational mix across the U.S. and international crude oil and natural gas markets, and diversified geographical exposure in earnings and cash flow streams. The acquisition will also strengthen cash flow and durability, given that the Middle East rig market is expected to grow in the coming years; generate attractive returns; and provide an opportunity to realise synergies, the company says. ACCELERATING INTERNATIONAL EXPANSION President and CEO of H&P, John Lindsay, commented, 'This is a historic and transformative transaction for the company, and we are excited about what this means for H&P’s future, as it accelerates our international expansion particularly in the Middle East and enhances the company’s global leadership in onshore drilling solutions. KCA Deutag’s assets and operations will add resilient revenues, providing greater earnings visibility and cash flow generation. As a result, we expect to generate sizeable incremental cash flows and are confident this transaction will deliver near- and long-term growth and value creation for H&P shareholders. “Our experience in the industry combined with a Middle East market poised for continued growth should be indicative of the importance and the compelling reasons for executing on this acquisition at this time. Acquiring KCA Deutag gives H&P immediate scale in core Middle East markets in a way that would be challenging to replicate organically.” CEO of KCA Deutag, Joseph Elkhoury, added, “We look forward to joining H&P, combining the strengths of our people together with our geographical footprint, to create an organisation with an unrivalled global network, service capability and technology offering. The size, scale and financial strength of the combined organisation will provide a stable foundation for long-term growth and diversification to safeguard a sustainable and prosperous future for our people.” The global energy supply chain is facing challenges.(Image source: Adobe Stock) Industry EIC REPORT HIGHLIGHTS SUPPLY CHAIN CHALLENGES Details Created: 25 July 2024 The UK-based Energy Industries Council (EIC) has released its eighth annual Survive and Thrive report, which finds that ongoing geographic and policy uncertainties are posing challenges for the global energy supply chain The report notes that only 7% of companies are venturing into new markets, high costs and insufficient government support being major deterrents. Clear policies and trade agreements are essential for making new market entries more feasible, according to the views of supply chain businesses shared in the report. Another obstacle is payment delays, which create severe cash flow issues, hindering investment in new technologies and expansion efforts, the report finds. Developing client-facing services and solutions has emerged as the most popular growth strategy this year, with 82% of supply chain companies now working directly with operators, increasingly sidestepping the traditional model of contracting via tier 1 EPC contractors. This shift allows companies to forge deeper relationships with end-user clients and increases the chances of having their technology pre-specified. SHIFT TO UNCERTAINTY “2024 sees a shift from boom times to an environment filled with uncertainty, as companies grapple with increased policy and geopolitical challenges,” Stuart Broadley, CEO of the EIC, commented. “While opportunities abound, the lack of clarity on financial incentives and regulations makes navigating these waters increasingly complex. While activity across the energy supply chain remains high, companies are facing significant hurdles due to policy uncertainties. “Government support, with fewer exclusions around oil and gas, is crucial for companies to navigate new territories, many of which have important hydrocarbons activities that are also in transition. Our members are asking for more engagement from trade missions and embassies to provide necessary market access and early clarity on new market challenges such as local content needs.” “Clear and consistent policies, financial incentives, and an understanding of the entire and largely integrated supply chain's needs are crucial. Policymakers should de-silo energy policy, ensure an overarching target with contributions from all stakeholders, and recognise the impact of increased taxes on operators. Upgrading capabilities to meet net-zero demands, reassessing local content regulations, and providing a clear roadmap for energy projects are essential steps to support and nurture the energy supply chain.” 1 of 7 Previous Next SLB continues to benefit from elevated activity in the Middle East & Asia, particularly in gas. (Image source: Adobe Stock) Industry SLB RECORDS STRONG GROWTH IN MIDDLE EAST & ASIA Details Created: 22 July 2024 SLB has recorded a strong performance in the Middle East & Asia in its second quarter results, with year-on-year revenue from the region increasing by 24%, compared with the 13% growth in total revenue Revenue in the Middle East & Asia of US$3.27bn increased 6% sequentially due to increased sales of production systems and increased intervention and evaluation activity in Saudi Arabia. Higher digital revenue across the area and increased drilling in Iraq, United Arab Emirates, China, and East Asia also contributed to the sequential growth. The year on year 24% increase in revenue was due to higher drilling, intervention, and evaluation activity as well as increased sales of production systems in Saudi Arabia. Higher drilling in United Arab Emirates, Egypt, East Asia, Indonesia, and China, as well as the acquired Aker subsea business in Australia, also contributed to the year-on-year growth. The company’s total revenue of US$9.14bn increased 5% sequentially and 13% year on year, with digital & integration and reservoir performance divisions both seeing 11% year-on-year growth, well construction 1% year-on-year growth, and production systems 31% year-on-year growth. SLB CEO Olivier Le Peuch commented, “We achieved solid second-quarter results, with broad-based international revenue growth and margin expansion across all divisions. Our Core business continued to build on its positive momentum and our digital business accelerated, resulting in our highest quarterly international revenue since 2014. These results demonstrate SLB’s strong position in key, resilient markets, as we continue to benefit from elevated activity in the Middle East & Asia, particularly in gas, and our clients’ increased investments in deepwater basins, exploration, and digital. “Sequentially, revenue grew 5%, led by the Middle East & Asia, which increased 6%. The increase in this area was driven by capacity expansions, gas development projects, and production and recovery, with a majority of GeoUnits in the area achieving record revenue. We also continued to benefit from our enhanced offshore exposure, particularly in deepwater basins across Latin America, Europe & Africa, and in the US Gulf of Mexico.” MIDDLE EAST CONTRACTS In the Kingdom of Saudi Arabia, Saudi Aramco awarded SLB a long-term contract for unconventional gas directional drilling services and drilling bits, in support of Aramco’s strategic goal to increase gas production by more than 60% by 2030, compared to 2021 levels. SLB will provide innovative fit-for-basin technologies, services, and best-in-class practices developed in collaboration with Aramco. In Qatar, a customer awarded SLB a five-year contract for directional drilling, measurement-while-drilling, and logging-while-drilling services. The contract will extend the deployment of the GeoSphere HD high-definition reservoir mapping-while-drilling service and the GeoSphere 360 3D reservoir mapping-while-drilling service for proactive steering, waterfront identification, and acquisition of valuable information for subsurface modelling. In the decarbonisation space, SLB and Abu Dhabi National Oil Company (ADNOC) Onshore successfully deployed the EcoShield low-carbon geopolymer cement-free system, paving the way to decarbonise cementing operations. This operation achieved an estimated 85% reduction in CO2 emissions compared with conventional conductor casing cement. ADNOC and SLB are looking to expand technology application in surface casing jobs and beyond. In Oman, ARA Petroleum Exploration and Production (ARA), part of the wider Zubair Corporation, awarded SLB a five-year contract to enhance ARA's reservoir engineering capabilities. Advanced wellbore imaging in the Techlog wellbore software will increase subsurface understanding, Petrel subsurface software machine learning will improve modelling, and Intersect high-resolution reservoir simulator will deliver precise forecasting. Ediz Eren, regional VP Middle East, Rockwell Automation. (Image source: Rockwell Automation) Technology EMBRACING THE DIGITAL REVOLUTION FOR GROWTH AND COMPETITIVENESS Details Created: 18 July 2024 Ediz Eren, regional VP Middle East for Rockwell Automation, discusses how the region is witnessing a remarkable shift towards digital transformation, driven by ambitious visions for economic diversification and modernisation In recent years, the Middle East has been experiencing a significant shift towards digital transformation across various industries. Traditionally known for its oil and gas sector dominance, the region is now diversifying its economy and embracing technology-driven innovations to foster growth and competitiveness A key driver of digital transformation in the Middle East is the region's vision for economic diversification and modernisation. Governments across the region have launched ambitious initiatives to foster innovation, entrepreneurship, and technological advancement. These initiatives include investment in digital infrastructure, development of smart cities, and promotion of emerging technologies such as artificial intelligence, blockchain, and the Internet of Things (IoT). Like other global economies, the COVID-19 pandemic has accelerated the adoption of digital technologies in the region, as organisations have had to adapt rapidly to remote work, digital communication, and online services. This has led to a greater appreciation for the benefits of digitalisation, including increased efficiency, flexibility, and resilience. Organisations invest in cloud computing, big data analytics, cybersecurity, and digital platforms to enhance customer experiences, streamline operations, and drive innovation. Saudi Arabia, for example, is aggressively advancing its manufacturing sector through digitalisation, aiming to expand from 10,000 to 36,000 facilities by 2030 as part of its Vision 2030. Rockwell Automation, a key supporter, recently launched its Digital Center of Excellence in Dammam, strengthening its commitment to the Kingdom. The Center focuses on process industries such as oil and gas, mining, and water, accelerating Saudi Arabia's digital transformation and optimising maintenance operations. IT IS NOT ALL ABOUT TECHNOLOGY While Rockwell has a suite of solutions that cover the entire lifecycle of a manufacturing facility, a successful digital transformation requires more than that. A vital component often overlooked is the people involved in the facility, who frequently feel threatened by adopting automation and data-driven processes. As digitalisation, automation, and robotics increase in manufacturing companies, workers express growing concerns about potential job displacement, loss of autonomy, and the need for upskilling. One primary apprehension among workers is the fear of job loss due to automation replacing traditional manual tasks. This concern is compounded by the perception that machines are increasingly capable of performing tasks previously carried out by humans. This shift can lead to feelings of disengagement and decreased job satisfaction among workers. The increasing reliance on digitalisation also raises concerns about the need for continuous upskilling and reskilling. Many workers feel unequipped to navigate the rapidly evolving technological landscape, leading to anxiety about job security and future employability. Addressing these concerns requires proactive measures from manufacturing companies, including investment in training programmes, transparent communication about the role of technology in the workplace, and efforts to involve workers in the digitalisation process to mitigate fears and foster a culture of collaboration and adaptation. THE IMPORTANCE OF EFFECTIVE CHANGE MANAGEMENT Change management is pivotal in successfully implementing digital transformation initiatives within manufacturing companies. Change management helps create awareness and understanding among employees about the need for digital transformation and its benefits to the organisation. Clear communication about the transformation's goals, objectives, and expected outcomes helps to alleviate uncertainty and build buy-in from employees at all levels. It serves as a guiding framework for navigating the complexities of digital transformation, ensuring that organisational goals are achieved and employees are equipped to thrive in a rapidly evolving manufacturing landscape. Some organisations look to pilot projects to provide a controlled environment to test new technologies, processes, and strategies before implementing them on a larger scale. These small-scale initiatives allow organisations to assess feasibility, identify potential challenges, and refine their approach, ultimately minimising risks and maximising the success of broader transformation efforts. However, as, by definition, they are small, they have a limited role in wider workforce acceptance. Their prime benefit is their ability to demonstrate tangible value and ROI to stakeholders within the organisation. By focusing on specific use cases or areas of improvement, pilot projects can showcase the potential impact of digital solutions on productivity, efficiency, quality, or cost savings. This empirical evidence is essential for garnering support and securing buy-in from decision-makers and frontline employees. The region is witnessing a remarkable shift towards digital transformation, driven by ambitious visions for economic diversification and modernisation. Governments are spearheading initiatives to foster innovation and technological advancement. Overall, digital transformation presents challenges and opportunities for the Middle East, highlighting the importance of proactive strategies and strong partners to address workforce concerns and maximise the benefits of technological innovation. Intersec Saudi Arabia draws thousands of safety and security professionals from across the GCC. (Image source: Messe Frankfurt) Event News INTERSEC SAUDI ARABIA GEARS UP FOR BIGGEST EVER EDITION Details Created: 17 July 2024 Intersec Saudi Arabia, the Kingdom's leading trade fair for safety, security, and fire protection, will return for a sixth edition from 1st-3rd October at the Riyadh International Convention and Exhibition Center (RICEC) Organised by 1st Arabia and licensed by Messe Frankfurt, the event is held under the patronage of the High Commission for Industrial Security and in association with the Ministry of Interior and Saudi Civil Defense. Intersec Saudi Arabia draws thousands of security and safety professionals from around the GCC each year to procure, learn and develop their knowledge of a rapidly growing industry. A record-breaking 15,336 visitors attended the 2023 event, and 17,000 visitors are expected at the upcoming edition. The exhibition space for Intersec Saudi Arabia 2024 has increased by 34% from 2023, covering a total area of 23,000 sq m across five halls and one outdoor showcase. Bilal Al Barmawi, CEO and founder of 1st Arabia Trade Shows & Conferences, said, “Intersec Saudi Arabia is tailored specifically to the needs of the Kingdom. The event is regarded as the largest and most important exhibition and conference for the security, safety, and fire protection industries in Saudi Arabia.” Intersec Saudi Arabia is expected to host over 350 exhibitors from 27 countries and will feature country pavilions for China, the Czech Republic and the UK. Saudi-based exhibitors account for 29% of the participating companies, which are categorised across five product sectors – Commercial and Perimeter Security, Cybersecurity, Homeland Security and Policing, Fire and Rescue, and Safety and Health. TWO PIVOTAL SUMMITS The annual conference programme for Intersec Saudi Arabia will include the Future Security and Safety Summit and the Fire Protection and Technology Summit, with both of these summits reflecting the specific needs of the Saudi market. Riham Sedik, show manager – Intersec Saudi Arabia, Messe Frankfurt Middle East, said, “We are proud to feature two pivotal summits that will unite industry pioneers to address current and emerging security threats at national and corporate levels while also bringing together leading fire and emergency service professionals to discuss the latest challenges, opportunities, and advancements in fire safety and technology." The summits will run throughout the three-day event and have been developed to bring together the industry's best and brightest minds, offering significant value to attendees and high-quality, valuable educational opportunities to attendees. Key themes for the Future Security and Safety Summit include ‘Moving Beyond Security – How to React to AI’s Transformative Potential’ and ‘Boosting International Security Co-operation’. Meanwhile, the Fire Protection and Technology Summit will explore ‘Robotics and Automation for Fire Suppression’ and ‘Fire Challenges due to Climate Change’ among other vital industry topics. The Premium Club will once again return to Intersec Saudi Arabia, providing unrivalled opportunities for professionals in safety, security, and fire protection to network. The programme is designed to encourage key buyers to connect with exhibitors away from the show floor, offering a seamless purchasing process. You can find out further information about Intersec Saudi Arabia here READ THE DIGITAL MAGAZINE * ROCKWELL AUTOMATION INTERVIEW WITH SEBASTIEN GRAU * ROCKWELL AUTOMATION INTERVIEW WITH MICHAEL SWEET * ADIPEC 2023 - EXCLUSIVE INTERVIEW WITH WISSAM CHEHABI, FISHBONES * ROCKWELL AUTOMATION INTERVIEW WITH KALYPSO’S RODRIGO ALVES AND KNOWLEDGE LENS’ GANESH IYER * ADIPEC 2023 - EXCLUSIVE INTERVIEW WITH FEBY MOHAMMED, BELDEN TOP STORIES View as: Grid List EXPLORATION & PRODUCTION Both onshore and offshore operations, and oilfield services did well. (Image source: Adnoc Drilling) Exploration & Production ADNOC DRILLING SEES STEADY REVENUE INCREASE IN 2024 Details 05 August 2024 Created: 05 August 2024 Driven by operational expansion across all business segments, ADNOC Drilling’s second quarter and first half 2024 revenue increased to US$935mn, surpassing US$1.8bn, up year-on-year by 29% and 26% respectively There was a steady revenue increase in both onshore and offshore operations, and in oilfield services as well. “ADNOC Drilling has continued to deliver on its strategic initiatives and has successfully closed the first half of the year on a strong note, achieving multiple milestones. “The Company’s performance for the period is a continued reflection of our unwavering commitment to operational excellence and efficiency in every aspect of our business. Our achievements for the period are a testament to the relentless dedication of our people, whose efforts are central to delivering outstanding service to our customers and maximising value for our shareholders,”said Abdulrahman Abdulla Al Seiari, CEO, ADNOC Drilling. The strong top-line translated into record EBITDA both in the quarter and the first half. Second quarter EBITDA increased by 37% year-on-year and 8% sequentially to US$472mn, yielding a 50% EBITDA margin. Consistency in revenue growth and cost-cutting strategies led to US$909mn EBITDA in the first half of the year, up 34% year-on-year and with a margin increase to 50%. Net profit for the quarter also grew, up 29% year-on-year and 7% sequentially to US$295mn, driven by the increase in EBITDA, while for the first half the figure stood at US$570mn, up 28% year-on-year. At the end of the second quarter, the fleet consisted of 140 rigs (136 owned plus four lease-to-own land rigs), up from 137 at the end of the first quarter due to the addition of three land rigs. Encouraged by the positive results, the Board of Directors has approved an interim dividend of US$394mn, +10% year-on-year under new enhanced and progressive dividend policy, equivalent to 9.0468 fils per share. The interim dividend distribution is expected to be in the last week of August 2024, to all shareholders of record as of August 12, 2024. The agreements will boost production in the Mediterranean and Suez Gulf. (Image source: Adobe Stock) Exploration & Production Details 29 July 2024 Created: 29 July 2024 EGYPT SIGNS AGREEMENTS TO INCREASE OIL & GAS PRODUCTION The value of the two offshore projects together amounts to US$500mn. (Image source: Adobe Stock) Exploration & Production Details 15 July 2024 Created: 15 July 2024 SAIPEM SCOOPS SAUDI CONTRACTS WORTH US$500MN INDUSTRY Expanding networks are offering big opportunities in the region. (Image source: Adobe Stock) Industry BIG OPPORTUNITIES FROM PIPELINE DEVELOPMENT Details 09 August 2024 Created: 09 August 2024 Expanding pipeline networks in the Middle East are offering fertile opportunities for contractors and technology providers Data from Global Energy Monitor’s Global Oil Infrastructure Tracker shows the Middle East leading the continuing global expansion of crude oil transmission pipelines, as countries maintain and expanding their production and export facilities. Around 7,073 km of crude oil pipelines are under development (proposed and under construction) in the region, at an estimated capex of US$49.7bn, with Iraq and Iran topping the list. Data in the Global Gas Infrastructure Tracker shows that 8,169 km of gas pipelines are under development in the Middle East at a cost of US$67.9bn, with Iran and Saudi Arabia leading the ranking. In Iran, new pipelines will help to meet high domestic demand from its industrial petrochemicals and residential sectors, while in Saudi Arabia and other Gulf states gas pipelines will support a shift to gas as a result of energy transition strategies and plans to develop global gas businesses. GAS PIPELINE NETWORKS Saudi Arabia’s Jafurah unconventional gas development for example involves a network of around 1,500 km of main transfer pipelines, flowlines and gas gathering pipelines; while contracts have recently been awarded for the Phase 3 expansion of the Master Gas System, which involves the installation of around 4,000 km pipelines. Sinopec and L&T Energy Hydrocarbon (LTEH) are among the beneficiaries, with the LTEH contract reported to be the largest cross-country pipeline EPC project awarded to the company to date. In the UAE, ADNOC Gas awarded contracts to expand the natural gas pipeline network in 2023, and recently awarded contracts to NMDC Energy P.J. S.C and Galfar Engineering Contracting W.L.L. Emirates for the next phase of the ESTIDAMA project, which will extend the UAE’s natural gas pipeline network operated by ADNOC Gas from approximately 3,200 km to more than 3,500 km, enabling the transportation of higher volumes of natural gas to customers in the Northern Emirates. Find out more in the latest issue of Oil Review Middle East, https://oilreviewmiddleeast.com/magazines/orme_2024_07_31/spread/?page=22 PIcture of oil workers with a laptop Industry Details 08 August 2024 Created: 08 August 2024 MOBILITY IN THE OIL AND GAS WORKFORCE ADNOC has signed several agreements with international partners for LNG supply. (Image source: ADNOC) Industry Details 08 August 2024 Created: 08 August 2024 ADNOC SIGNS LNG SUPPLY AGREEMENT WITH OSAKA GAS PETROCHEMICALS The new process will improve efficiency and reduce carbon footprint. (Image source: Honeywell) Petrochemicals HONEYWELL LAUNCHES NEW OLEFIN PRODUCTION PROCESS Details 09 May 2024 Created: 09 May 2024 Honeywell has launched a new process to improve the efficiency and sustainability of light olefin production The naphtha to ethane and propane (NEP) technology generates a tunable amount of ethane and propane from naphtha and/or LPG feedstocks, generating more high-value ethylene and propylene with reduced production of lower-value by-products compared to a traditional mixed-feed steam cracking unit and resulting in net cash margin increases. An NEP-based olefins complex also reduces CO2 intensity per metric ton of light olefins produced by 5 to 50% versus a traditional mixed-feed steam cracker. MORE EFFICIENT PRODUCTION “The petrochemical industry faces strong competition and challenges in obtaining raw materials globally,” said Matt Spalding, vice president and general manager of Honeywell Energy and Sustainability Solutions in MENA. “Our technology helps to enable more efficient production of ethylene and propylene, two chemicals which are in high demand, while also helping our customers lower their carbon emissions.” The new solution is a part of Honeywell’s Integrated Olefin Suite technology portfolio to enhance the production of light olefins. The programme will optimise asset lifecycle, enhance machinery performance and improve overall reliability. (Image source: Adobe Stock) Petrochemicals Details 28 March 2024 Created: 28 March 2024 KBR WINS ASSET CONDITION MONITORING CONTRACT FROM PETRO RABIGH TotalEnergies will support the refinery with its global oil and feedstock supply capacity. (Image source: Adobe Stock) Petrochemicals Details 04 March 2024 Created: 04 March 2024 TOTALENERGIES EXTENDS SUPPORT TO BAPCO ENERGIES ON SITRA REFINERY TECHNOLOGY The offshore SARB field has seen a 25% increase in production. (Image source: ADNOC) Technology ADNOC HIKES PRODUCTION WITH AI-ENABLED TECHNOLOGIES Details 31 July 2024 Created: 31 July 2024 ADNOC has announced that its offshore Satah Al Razboot (SARB) field has increased production capacity by 25% to 140,000 bpd through the implementation of advanced digital technologies The digital solutions implemented onsite at SARB allow the field to be operated remotely from Zirku island, 20km away. Remote monitoring, smart well operations and production management technologies are integrated at the remote control centre for optimised real-time decision-making. This has enabled the accelerated growth in field capacity with reduced costs and emissions. The field’s digitalisation will enable the deployment of additional AI solutions to further enhance and optimise operations. AIQ solutions DrillRep and OptiDrill process data from rigs and wells at the field, enhancing drilling efficiency and optimisation. By utilising daily drilling data reports and rig sensor data, AIQ’s technology supports drilling operations with the necessary insights and actions to optimise the drilling process. Abdulmunim Saif Al Kindy, ADNOC Upstream executive director, said, “AI and digitalisation are at the heart of ADNOC’s smart growth strategy to help responsibly meet the world’s growing energy demand. By deploying industry-leading technologies at SARB field, we have increased production capacity while enhancing the safety, sustainability and efficiency of our operations, strengthening ADNOC’s position as one of the world’s lowest-cost and least carbon intensive energy producers.” See also https://oilreviewmiddleeast.com/technical-focus/adnoc-accelerates-deployment-of-robowell-solution https://oilreviewmiddleeast.com/technical-focus/the-ai-revolution-in-oil-and-gas Ediz Eren, regional VP Middle East, Rockwell Automation. (Image source: Rockwell Automation) Technology Details 18 July 2024 Created: 18 July 2024 EMBRACING THE DIGITAL REVOLUTION FOR GROWTH AND COMPETITIVENESS The service provides automated, continuous visualisation of the subsurface. (Image source: Halliburton) Technology Details 17 July 2024 Created: 17 July 2024 HALLIBURTON LAUNCHES SENSORI FRACTURE MONITORING SERVICE WEBINAR Webinar RECORD NUMBERS ATTEND OIL REVIEW MIDDLE EAST WEBINAR ON ADVANCED SURVEILLANCE FOR OIL AND GAS REMOTE FACILITIES Details 29 February 2024 Created: 29 February 2024 More than 175 people, including senior representatives of the region's leading oil and gas companies, attended a very topical and engaging live webinar hosted by Oil Review Middle East entitled “Beyond Boundaries: Advanced Surveillance for Oil and Gas Remote Facilities” The webinar discussed how leveraging data can drive operational excellence in both projects and operations phases. (Image source: Adobe Stock) Webinar Details 29 January 2024 Created: 29 January 2024 HARNESSING DIGITAL TOOLS FOR SUSTAINABLE INDUSTRIAL EVOLUTION Webinar Details 26 October 2023 Created: 26 October 2023 GPT INDUSTRIES WEBINAR: COMBATTING FLANGE FACE CORROSION IN THE MIDDLE EAST ENERGY TRANSITION The range covers every application of the hydrogen value chain. (Image source: Trelleborg) Energy Transition TRELLEBORG LAUNCHES HYDROGEN SEALING SOLUTIONS Details 07 August 2024 Created: 07 August 2024 Trelleborg Sealing Solutions has launched the full H2Pro range of more than 20 sealing compounds for every application of the hydrogen value chain, from production to transport and storage and end-use Proven to withstand challenging application environments, the materials are suitable for high pressures, low temperatures, and resist permeation, making them better able to withstand rapid gas decompression (RGD), while also demonstrating excellent wear and extrusion properties. James Simpson, global segment director energy, said, “As the smallest and lightest molecule, hydrogen has the potential to drive the energy transition, but it is difficult and complex to seal. “The lack of relevant industry standards to validate our materials against was a major challenge when developing the H2Pro range. Some in the nascent hydrogen industry rely on standards used typically for high-pressure gasses in the oil and gas sector, but these are often unsuitable for replicating real-world hydrogen application conditions. “Trelleborg has developed proprietary testing protocols that replicate real-world hydrogen applications, providing customers with confidence in products to make the energy transition reliable, efficient and economic.” Trelleborg's proprietary test standards cover hydrogen permeation, endurance validation and hydrogen compatibility, including the ability to withstand rapid gas compression (RGD). Occurring when hydrogen permeates into a seal under pressure, RGD can cause seals to blister and crack when pressure is rapidly relieved. Aviation is a key focus for Masdar's green hydrogen business. (Image source: Masdar) Energy Transition Details 01 August 2024 Created: 01 August 2024 MASDAR AND TOTALENERGIES TO COLLABORATE ON SAF PROJECT The facility will utilise KBR's leading ammonia synthesis loop technology to deliver cost-competitive and low-carbon intensity ammonia. (Image source: KBR) Energy Transition Details 22 July 2024 Created: 22 July 2024 KBR AWARDED ENERGY TRANSITION PROJECTS * Most read * Latest news The agreements will boost production in the Mediterranean and Suez Gulf. (Image source: Adobe Stock) Exploration & Production Details 2024-07-29 EGYPT SIGNS AGREEMENTS TO INCREASE OIL & GAS PRODUCTION The offshore SARB field has seen a 25% increase in production. (Image source: ADNOC) Technology Details 2024-07-31 ADNOC HIKES PRODUCTION WITH AI-ENABLED TECHNOLOGIES Gas Details 2023-07-18 NEW IEA REPORT URGES CLOSER DIALOGUE BETWEEN GAS PRODUCERS AND CONSUMERS Expanding networks are offering big opportunities in the region. (Image source: Adobe Stock) Industry Details 2024-08-09 BIG OPPORTUNITIES FROM PIPELINE DEVELOPMENT PIcture of oil workers with a laptop Industry Details 2024-08-08 MOBILITY IN THE OIL AND GAS WORKFORCE (L-R): MYCRANE's Piet Kraaijeveld, Andrei Geikalo, Aleksandr Geikalo. (Image source: ADIPEC) Industry Details 2023-10-04 SAUDI ARABIA WELCOMES MYCRANE PLATFORM By using analytics to augment and empower the workforce, pipeline operators can optimise operations and improve asset availability. (Image source: Adobe Stock) Technology Details 2024-04-09 OPTIMISING PIPELINE OPERATIONS The expansion is expected to increase the plant’s processing capacity from 2.5 to up to 4 billion standard cubic feet per day (bscfd). (Image source: Aramco) Exploration & Production Details 2024-04-02 ARAMCO AWARDS EPC CONTRACTS FOR FADHILI GAS PLANT EXPANSION Comparison of conventional workflow with DUG MP-FWI imaging. (Image source: DUG) Technology Details 2024-04-02 NEW FWI TECHNOLOGY FROM DUG REPLACES TRADITIONAL PROCESSING AND IMAGING WORKFLOWS The new range has been launched in response to the demand for compact and lightweight lifeboats. (Image source: VIKING) Health & Safety Details 2023-11-22 VIKING LIFE-SAVING EQUIPMENT LAUNCHES NEW RANGE OF SPACE-SAVING LIFEBOATS The use of blockchain in the oil and gas sector is set to increase substantially. (Image source: Adobe Stock) Technology Details 2024-03-28 GLOBALDATA HIGHLIGHTS TRANSFORMATIVE POTENTIAL OF BLOCKCHAIN FOR OIL AND GAS HE Abdulsalam bin Mohammed Al Murshidi, the president of Oman Investment Authority (OIA) Petrochemicals Details 2024-02-06 DUQM REFINERY SET TO CHANGE THE GULF ENERGY LANDSCAPE TotalEnergies will support the refinery with its global oil and feedstock supply capacity. (Image source: Adobe Stock) Petrochemicals Details 2024-03-04 TOTALENERGIES EXTENDS SUPPORT TO BAPCO ENERGIES ON SITRA REFINERY The programme is designed to strengthen leadership and safety culture in the oil and gas industry> (Image source: Adobe Stock) Health & Safety Details 2024-01-05 SAFETY LEADERSHIP ACADEMY FOR OIL AND GAS INDUSTRY LAUNCHED Block 56 is targeted for commercialisation in 2024. (Image source: Canva) Exploration & Production Details 2024-03-29 TETHYS OIL TO EXPAND EXPLORATION IN OMAN TotalEnergies and SONATRACH will develop gas resources in Algeria's north-east Timimoun region, (Image source: Adobe Stock). Exploration & Production Details 2024-04-09 TOTALENERGIES AND SONATRACH SIGN MOU TO DEVELOP GAS RESOURCES Over 4,000 km of SoluForce pipe has been installed around the world. (Image source: SoluForce) Technology Details 2024-04-01 SOLUFORCE PIPELINES: REACHING THE NEXT LEVEL OF REUSABILITY Among other services, KBR will offer proprietary equipment for NCIC's 1,200 metric tonnes per day ammonia plant. (Image source: Adobe Stock) Industry Details 2024-04-03 KBR TO PROVIDE AMMONIA TECHNOLOGY FOR EL NASR'S FERTILISER COMPLEX IN EGYPT The programme will optimise asset lifecycle, enhance machinery performance and improve overall reliability. (Image source: Adobe Stock) Petrochemicals Details 2024-03-28 KBR WINS ASSET CONDITION MONITORING CONTRACT FROM PETRO RABIGH The system can activate notification and hazard mitigation equipment to notify workers and safeguard facilities. (Image source: MSA Safety) Health & Safety Details 2024-01-12 MSA SAFETY LAUNCHES SENTRY IO CONTROLLER LATEST NEWS rThe article explores the importance of incorporating human factors into all risk assessments. (Image source: Canva) Health & Safety Details 2028-06-30 THE THIRD DIMENSION OF RISK ASSESSMENT Expanding networks are offering big opportunities in the region. (Image source: Adobe Stock) Industry Details 2024-08-09 BIG OPPORTUNITIES FROM PIPELINE DEVELOPMENT PIcture of oil workers with a laptop Industry Details 2024-08-08 MOBILITY IN THE OIL AND GAS WORKFORCE ADNOC has signed several agreements with international partners for LNG supply. (Image source: ADNOC) Industry Details 2024-08-08 ADNOC SIGNS LNG SUPPLY AGREEMENT WITH OSAKA GAS Aramco's gas expansion is one of the factors behind the increase in capital expenditure. (Image source: Aramco) Industry Details 2024-08-07 ARAMCO REPORTS STRONG PERFORMANCE AND CAPEX GROWTH Both onshore and offshore operations, and oilfield services did well. (Image source: Adnoc Drilling) Exploration & Production Details 2024-08-05 ADNOC DRILLING SEES STEADY REVENUE INCREASE IN 2024 The offshore SARB field has seen a 25% increase in production. (Image source: ADNOC) Technology Details 2024-07-31 ADNOC HIKES PRODUCTION WITH AI-ENABLED TECHNOLOGIES Matt Overcasher and Steve Manypenny, field technicians with Columbia Gas of Ohio, received the Community Hero award. (Image source: Blackline Safety) Health & Safety Details 2024-07-30 BLACKLINE SAFETY LAUNCHES SAFETY AWARDS PROGRAMME The agreements will boost production in the Mediterranean and Suez Gulf. (Image source: Adobe Stock) Exploration & Production Details 2024-07-29 EGYPT SIGNS AGREEMENTS TO INCREASE OIL & GAS PRODUCTION Two Middle East countries feature in the top 5 countries with most recoverable reserves. (Image source: Adobe Stock) Industry Details 2024-07-29 SAUDI ARABIA LEADS IN RECOVERABLE OIL RESERVES: RYSTAD ENERGY The acquisition will strongly boost H&P's Middle East presence. (Image source: Adobe Stock) Industry Details 2024-07-26 HELMERICH & PAYNE SET FOR MIDDLE EAST EXPANSION WITH NEW ACQUISITION The global energy supply chain is facing challenges.(Image source: Adobe Stock) Industry Details 2024-07-25 EIC REPORT HIGHLIGHTS SUPPLY CHAIN CHALLENGES STRYDE has won 11 new contracts. (Image source: STRYDE) Industry Details 2024-07-24 STRYDE WINS SEISMIC PROCESSING CONTRACTS SLB continues to benefit from elevated activity in the Middle East & Asia, particularly in gas. (Image source: Adobe Stock) Industry Details 2024-07-22 SLB RECORDS STRONG GROWTH IN MIDDLE EAST & ASIA Ediz Eren, regional VP Middle East, Rockwell Automation. (Image source: Rockwell Automation) Technology Details 2024-07-18 EMBRACING THE DIGITAL REVOLUTION FOR GROWTH AND COMPETITIVENESS The service provides automated, continuous visualisation of the subsurface. (Image source: Halliburton) Technology Details 2024-07-17 HALLIBURTON LAUNCHES SENSORI FRACTURE MONITORING SERVICE HSE GOM will bring together leaders from the offshore community to share insights and best practices for enhancing safety. (Image source: Adobe Stock) Health & Safety Details 2024-07-16 LEADING LIGHTS OF THE OFFSHORE HSE COMMUNITY TO CONVENE AT HSE GOM The collaboration will provide and implement advanced technologies to optimise operations, enhance safety measures and minimise environmental impact across the entire value chain. (Image source: Adobe Stock) Industry Details 2024-07-16 TAQA AND WELLSX PARTNER TO OPTIMISE OIL AND GAS OPERATIONS The value of the two offshore projects together amounts to US$500mn. (Image source: Adobe Stock) Exploration & Production Details 2024-07-15 SAIPEM SCOOPS SAUDI CONTRACTS WORTH US$500MN ESTIDAMA will extend the UAE’s natural gas pipeline network operated by ADNOC Gas from approximately 3,200 km to more than 3,500 km. (Image source: Adobe Stock) Exploration & Production Details 2024-07-15 ADNOC GAS AWARDS CONTRACTS FOR GAS PIPELINE EXPANSION MORE ARTICLES Matt Overcasher and Steve Manypenny, field technicians with Columbia Gas of Ohio, received the Community Hero award. (Image source: Blackline Safety) Health & Safety BLACKLINE SAFETY LAUNCHES SAFETY AWARDS PROGRAMME Details Created: 30 July 2024 HSE GOM will bring together leaders from the offshore community to share insights and best practices for enhancing safety. (Image source: Adobe Stock) Health & Safety LEADING LIGHTS OF THE OFFSHORE HSE COMMUNITY TO CONVENE AT HSE GOM Details Created: 16 July 2024 Larry Wilson, author and CEO, SafeStart, explains the contributing factors to critical errors. (Image source: Canva) Health & Safety PREVENTING SERIOUS INJURIES: AN IN-DEPTH ANALYSIS BY SAFESTART Details Created: 01 July 2024 The qualification is suitable for a variety of road users, including those operating off-road and heavy vehicles. (Image source: Adobe Stock) Health & Safety ROSPA LAUNCHES DEFENSIVE DRIVING QUALIFICATION Details Created: 28 June 2024 There are many misconceptions around the causes of serious injuries. (Image source: Adobe Stock) Health & Safety SAFESTART'S LATEST ADVICE ON PREVENTING SERIOUS INJURIES Details Created: 31 May 2024 Crew Hawk wirelessly monitors hazardous working environments in real-time, tracking individuals and equipment. (Image source: Salunda) Health & Safety SALUNDA WINS MIDDLE EAST CONTRACT FOR MONITORING SOLUTION Details Created: 29 May 2024 rThe article explores the importance of incorporating human factors into all risk assessments. (Image source: Canva) Health & Safety THE THIRD DIMENSION OF RISK ASSESSMENT Details Created: 30 June 2028 Source: SafeStart Health & Safety THE THREE MAIN SOURCES OF UNEXPECTED EVENTS Details Created: 27 March 2024 The partnership will enable HMi Elements to tap into Cobic-Ex’s global network. (Image source: HMi Elements) Health & Safety HMI ELEMENTS EXPANDS GLOBAL DISTRIBUTION NETWORK THROUGH NEW PARTNERSHIP Details Created: 21 March 2024 Sarah Hutcheon, product development manager at OPITO. (Image source: OPITO) Health & Safety OPITO INTRODUCES NEW TRAINING STANDARDS TO IMPROVE SAFETY AROUND OFFSHORE INSTALLATIONS Details Created: 20 March 2024 To improve differentiation, hard hats can be customised with different colours and logos. (Image source: MSA Safety) Health & Safety MORE THAN JUST A HARD HAT Details Created: 14 March 2024 Human factors need to be taken into account when addressing safety. (Image source: Adobe Stock) Health & Safety HAZARDS OR HUMAN ERROR? A FRESH LOOK AT SAFETY IN THE MIDDLE EAST Details Created: 11 March 2024 1 of 3 Previous Next Copyright © 2024 Alain Charles Publishing Ltd. Pop Up Title Close Close Sign up for the Oil Review Middle East free newsletter and digital magazine Receive the latest business and government news and analysis from across the continent Please complete all fields* Full Name* Invalid Input E-mail* Invalid email address. Company* Invalid Input Job title* Invalid Input Submit