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ADNOC's and Borealis' JV, the Abu Dhabi Polymers Company Ltd (Borouge) has awarded a licensing contract for the Borouge 4 project to France-based Axens. The contract terms require Axens to supply process books, catalysts & adsorbents, proprietary equipment, trainings and technical services. Axens will provide Borogue with an MTBE unit coupled with1-Butene production unit and 1-Hexene unit for the Borouge 4 project in Ruwais-Abu Dhabi, UAE.
Billionaire Mukesh Ambani-led Reliance Industries has inked a framework agreement with state-run ADNOC to explore development of an Ethylene Dichloride (EDC) facility in Ruwais. RIL will utilize the proposed unit to procure EDC, a key raw material used in the manufacturing of Polyvinyl chloride (PVC). ADNOC would provide Ethylene to the proposed venture and offer access to the infrastructure at Ruwais.
ADNOC's susidiary ADNOC Drilling has announced the launch of a major rig fleet expansion program. This will support ADNOC's upstream growth plans and would support its 2030 Smart Growth Strategy. ADNOC's Upstream Executive Director said, "ADNOC Drilling’s rig fleet expansion underscores ADNOC’s drive to unlock and maximize value from Abu Dhabi’s vast hydrocarbon resources and will further improve drilling and well-completion efficiencies".
The biggest conference of the oil and gas industry, ADIPEC 2019 is currently happening in Abu Dhabi. During the conference, ADNOC's CEO Sultan Ahmed al-Jaber has addressed the industry professionals saying "Oil and gas industry will remain an essential pillar of the future diversified energy mix". He has called out on the industry to modernize in order to keep up with the fast-evolving energy landscape.
State-run Abu Dhabi National Oil Company (ADNOC) yesterday announced about awarding multi-billion-dollar contracts for the procurement of casing and tubing. The contract awards are in line with the company’s aim of maximising value for ADNOC across its drilling value chain and reinforcing its strategy to offer a more profitable upstream business. The $3.6 billion worth of contracts was awarded to Tenaris S.A., Vallourec S.A. and Marubeni Corporation.
India’s largest oil guzzler, Indian Oil Corporation (IOC) informed in a regulatory filing yesterday about winning 100% stake in Abu Dhabi Onshore Block 1 Concession with BPRL. The two oil firms will invest USD 170 million in the concession. IOC and BPRL participated in Abu Dhabi's first-ever competitive bid round through a special purpose vehicle (SPV), Urja Bharat Pte Ltd.
Japanese firm, Inpex Corporation has secured an onshore exploration concession in Abu Dhabi’s competitive block bid round. In a company statement released yesterday, state-run firm ADNOC has awarded Onshore Block 4 to Inpex Corp for 35 years. ADNOC said that the Japanese oil company will invest up to $175.89 million in the block.
UAE’s state-run oil firm, ADNOC informed on Saturday about awarding an onshore block to US oil and gas firm, Occidental Petroleum. The award will provide Occidental with a 35-year concession to the Onshore Block 3, which spans across an area of 5,782 square kilometres in al-Dhafrah region of Abu Dhabi. Occidental will put in an investment of approximately $244 million during the exploration phase of the block.
Eni SpA and PTT Exploration and Production Pcl have received rights for the exploration of oil and natural gas in Abu Dhabi. The energy majors have committed to invest at least $230 million to assess the offshore blocks. Once the production phase is reached, ADNOC will have the option to retain 60% of the fields. ADNOC’s CEO said “We are engaging with partners who actually put skin in the game”.
Spanish engineering firm, Tecnicas Reunidas has secured an engineering design contract for ADNOC and Cespa’s joint project in Ruwais. The linear alkylbenzene (LAB) plant will also be the first derivative unit developed under the $45 billion-Ruwais downstream investment programme. An ADNOC statement read that the plant will manufacture 225,000 tonnes of normal paraffins per year and 150,000 tonnes of linear alkyl benzene per year.
Petroleum Ministry of Egypt has given approval to energy major BP and UAE’s Mubadala Investment Co., enabling them to buy stakes in the Nour gas field. Mubadala will buy 20% and BP will buy 25% of the Nour concession from Eni. After this, Eni will be holding only 40% of the concession. Remaining 15% will be held by Tharwa Petroleum Company of Egypt.
Germany’s energy major, Wintershall Holding has been awarded 10% stakes in the Ghasha ultra-sour gas mega project by UAE. The energy giant, Abu Dhabi National Oil Co (ADNOC) informed about this deal on Monday. The foundation of this deal is ADNOC’s new integrated gas strategy which has been focused upon unlocking and maximizing value from Abu Dhabi’s gas reserves. Abu Dhabi wants to be gas self-sufficient in the coming future.
The state oil giant of UAE, Abu Dhabi National Oil Co (ADNOC) gave 25% stakes of its Ghasha sour gas concession to Italian company, Eni. As per the information from the oil major, it will announce its new partners for this offshore project in the coming weeks. ADNOC said in a statement that the further announcement would revolve around the opening of six oil and gas blocks for competitive bidding.
Eni has been awarded 25% stakes in a mega offshore gas project of ADNOC. CEO of Eni and UAE Minister of State and ADNOC’s Group CEO have signed a concession agreement for the same. Under this, Eni will be paying 25% of the development cost to enter the concession. This 40 year term project includes Hail, Ghasha, Dalma and other offshore fields which are located in the Emirate’s Al Dhafra region.
The 4-day long Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC) commenced yesterday with the keynote speech by ADNOC's CEO. In his speech, His Excellency Dr. Sultan Ahmed Al Jaber said that the global oil and gas industry will be a critical enabler of economic growth in the 4th Industrial Age. ADIPEC is hosting more than 80 ministers, CEOs, and global oil and gas business leaders as speakers.
Aberdeen-based Wood has been awarded three new contracts by ADNOC Onshore, subsidiary of Abu Dhabi National Oil Company. The energy services giant signed the contracts for more than £40 million. Under the scope of these contracts, Wood will provide project management consultancy (PMC) services at Adnoc’s onshore fields. The term of the contracts is five years, with an option of one-year extension.
State-owned ADNOC inked an agreement to grant 40% stakes in the Ruwais Diyab Unconventional Gas Concession to Total. The French supermajor will explore, appraise and develop the concession area’s unconventional gas resources. The agreement consists of a six to seven-year exploration and appraisal phase. It will be then followed by a 40-year production term.
National Petroleum Construction Co. (NPCC) of Abu Dhabi informed that the company has won a construction contract from Kuwait Oil Company. The contract is of $231 million. Under the scope of this contract, NPCC will have to build facilities in order to reduce crude salinity. These facilities will be built at the four oil gathering stations that are operated by Kuwait Oil.