The Energy Year’s Post

🚀 𝐍𝐞𝐰 𝐦𝐢𝐥𝐞𝐬𝐭𝐨𝐧𝐞 𝐟𝐨𝐫 𝐓𝐞𝐜𝐡𝐧𝐢𝐩 𝐄𝐧𝐞𝐫𝐠𝐢𝐞𝐬, 𝐚𝐬 𝐢𝐭 𝐰𝐫𝐚𝐩𝐬 𝐮𝐩 𝐰𝐨𝐫𝐤 𝐨𝐧 𝐦𝐞𝐠𝐚 𝐨𝐟𝐟𝐬𝐡𝐨𝐫𝐞 𝐨𝐢𝐥 𝐩𝐫𝐨𝐣𝐞𝐜𝐭 The French player underscores that it played “an important role” in the second phase of a giant #oil field #offshore #UAE, thanks to a contract awarded to a consortium led by NPCC, which entailed the detailed #engineering, #procurement, #fabrication, #installation, #commissioning, and start-up of a large offshore super complex comprising six bridge-linked platforms, including gathering, separation, #gas treatment, and water disposal facilities, utilities, and accommodation modules, totaling over 66,000 metric tons with associated jackets, flares, bridges, and #subsea composite #cables. 𝐃𝐢𝐬𝐜𝐨𝐯𝐞𝐫 𝐦𝐨𝐫𝐞: https://buff.ly/3SnjAaz #oilgas #subsea #oilandgasnews #offshoreenergy #oilandgas #MiddleEast ADNOC Group Photo: Umm Lulu; Source: Technip Energies 

Sinopec Secures $1.1bn Deal with Aramco to Build Gas Pipelines. Sinopec has signed a $1.1 billion contract to build natural gas pipelines for Saudi Aramco. This massive infrastructure project will enhance gas distribution across Saudi Arabia and strengthen the Kingdom's energy sector. 🔹 Project Scope: The contract involves constructing 2,630 km of trunk lines and 1,340 km of branch lines, with completion expected by May 2027. 🔹 Strategic Importance: This development is part of Aramco's plan to boost gas infrastructure, including the ambitious Jafurah Gas Field project, estimated to hold 200 trillion cubic feet of natural gas. 🔹 Collaborative Efforts: Earlier this year, Aramco awarded over $3.3 billion in contracts to Sinopec and Spain’s Técnicas Reunidas for the Jafurah gas facility. Sinopec holds 65% of the project, with Técnicas Reunidas having 35%. #RealEstate #GCC #SaudiArabia #InvestmentOpportunities #Infrastructure #EconomicGrowth #ArabianProperties

Rystad Energy's latest #analysis projects $126 billion of #sanctioning activity for the #upstream oil and gas industry this year, with #offshore projects expected to dominate, accounting for about 65% of total #greenfield #commitments. Despite a slowdown from last year’s $179 billion, notable #developments such as aramco’s #Fadhili Gas Plant expansion in Saudi Arabia, and PETROVIETNAM’s Block B Gas development off #Vietnam have been sanctioned. In the US Gulf, Beacon Offshore Energy and OKEA ASA in #Norway are pushing forward with major #deepwater and #subsea projects, signaling a continued commitment to robust offshore development despite the overall decline. Despite the slowdown in sanctioning activity this year, we expect 2025 to see sanctioning activity as high as 2023. These actions reflect a strategic adjustment to current #economic and #political climates, where companies are cautiously advancing projects with strong economic bases. For instance, the majority of offshore projects to be sanctioned this year present #breakeven prices below $40 per barrel, emphasizing their economic viability in a fluctuating market. The detailed commentary - https://lnkd.in/g3EfQDb4 For more such insights and discussions, please feel free to reach out to me. Bhoomi Shah #OilAndGas #Energy #oilfieldservice #OFS

ADNOC Gas has announced the transfer of its ownership in the Estidama project to ADNOC Group 🏗 This $2.4 billion capex project aims to expand UAE's natural gas pipeline network, increasing it from 3,200 km to over 3,500 km. This expansion will enhance the transportation of natural gas to customers in the Northern Emirates. Following the ownership transfer, ADNOC will cover the capex for the project in return for a variable fee from ADNOC Gas for pipeline usage, a cost which could be passed on to the end user. ADNOC Gas will continue to leverage its expertise in pipeline operation to manage the project and will receive a fee from ADNOC for this service.   Additionally, ADNOC Gas has awarded EPC contracts worth $550 million to NMDC Energy P.J.S.C and Galfar Engineering & Contracting W.L.L Emirates as part of the Estidama project. Approximately 70% of this amount is expected to benefit the local economy through ADNOC’s In-Country Value program. #AdnocGas #ADNOC #OilandGas #UAE #EconomicGrowth #EnergyExpansion

As per MEED | Middle East Economic Digest data, aramco awarded more than $5 billion worth of #offshore engineering, procurement, construction and installation (EPCI) contracts to entities in its Long-Term Agreement (LTA) pool of offshore contractors in 2023. The #Saudi energy giant is expected to leave the tap running on offshore #oilandgas project spending this year too. Do have a read of my #opinion on #SaudiAramco's expected offshore capital expenditure in 2024, and let me know what you think: https://lnkd.in/d-Mu8G_z

Saudi aramco' s plan to diversify beyond oil took another step forward. It has awarded construction contracts worth $25 billion for the development of its Jafurah gas project, as it looks to boost production of the fuel considered a key part of plans to reduce plant-warming emissions. The contracts awarded include $12.4 billion for increasing gas output at Jafurah, plus $8.8 billion for expanding the so-called master gas system, which delivers natural gas to customers around the country, according to a statement. Aramco also awarded $2.4 billion in contracts for gas rigs. Development of the Jafurah field, estimated to hold 200 trillion cubic feet of gas, is expected to cost $100 billion and boost the firm’s gas production more than 60% by 2030. #saudiarabia #oilandgas #saudivision2030 #gas #jafurah

#Geoeconomics, Saudi Arabia: Chinese company signed largest EPC contract for oil and gas. The main work of the project includes expansion of three booster stations of the Saudi gas pipeline network, as well as related ancillary facilities and expansion of the owner's permanent field. China Petroleum Engineering and Construction Corporation (CPECC) and Saudi Aramco have signed the EPC contract related to Saudi Arabia's Phase III National Gas Pipeline Network booster station expansion project, with a contract value of $1.699 billion (including taxes). With the signing, CPECC was awarded the largest oil and gas EPC contract by a Chinese-funded company in the Saudi market. Read more on #ExtremaRatio https://lnkd.in/d58Mi_qP

#QatarEnergy announces "North Field West" LNG expansion project, targeting 142 MTPA production capacity by the end of the decade, an 85% increase. 🚀 Saad Sherida Al-Kaabi, Minister of State for Energy Affairs & CEO, shared details during a press conference. 🌐 The giant North Field's productive layers extend westward, leading to estimates of 240 TCF additional gas quantities. 🛢️ Qatar's total gas reserves now exceed 2,000 TCF, condensates over 80 billion barrels. 📈 New LNG project in Ras Laffan with 16 MTPA capacity to contribute to the overall goal. 🏭 QatarEnergy gears up for North Field East & North Field South projects, aiming for 7.25 million BOE per day. ⛽ #LNGExpansion #QatarGas #EnergyNews #NorthFieldWest #HydrocarbonProduction #QatarEnergyProjects

ADNOC Gas Awards $550 Million for UAE Gas Infrastructure Expansion Big news! ADNOC Gas has awarded $550 million in contracts to boost the UAE's gas infrastructure. This expansion marks a significant step towards enhancing energy security and meeting growing demand. #realestatebroker #propertymarket #agent #business #news #realestate #Development #propertyinvestment #Dubai #dubailife #dubaiupdates

Saudi Aramco's Master Gas System network (MGS) project has taken a step closer to achieving its Zero Routine Flaring by 2030 (ZRF) Initiative. The third expansion phase of the MGS project has been awarded to selected contractors, with 16 EPC packages estimated to cost about $10bn. The MGS captures and utilizes associated gas as a source of energy, reducing CO2 emissions from flare stacks. The first two packages involve upgrading gas compression systems and installing new compressors, while the other 15 packages are related to laying gas transport pipelines across various locations in Saudi Arabia. This project is a significant milestone in Aramco's journey towards ending routine gas flaring. https://lnkd.in/d48g3tUk