ADNOC undertook this ratings exercise as part of its new approach to expand its partner and investor universe, as well as more actively manage its assets and capital.
Operations are slated to begin in the second half of 2019
Even as it reins in its production following the December 2018 OPEC+ decision to cut output, Saudi Arabia is looking to expand its exploration and production globally
Existing infrastructure is expected to help speed up production if exploration is successful
BP CEO Bob Dudley noted that since 2017, BP has invested more in Egypt than any other country
The programme will capture flared gas from the three major oilfields Rumaila, West Qurna 1 and Zubair and convert it into dry gas for power generation and liquids for the domestic market and for exports.
Barkindo told Reuters that "OPEC is neither a cartel nor involved in the business of fixing oil prices."
ADNOC Group CEO Dr. Sultan Ahmed Al Jaber received the award due to his 'contribution to global and regional energy security, building bridges to the emerging economies of Asia and reshaping traditional business models to adapt to a fast-evolving energy landscape'
The consultancy noted that challenges remain as the deepwater sector recovers from the downturn
The company says this will allow it to focus on its core controls technology
The Abu Dhabi National Oil Company (ADNOC) awarded a dredging, land reclamation and marine construction contract to build multiple artificial islands in the first phase of development of the Ghasha Concession
The deputy prime minister of energy affairs for Iraq, Thamir A. Al Ghadhban, and the Chief Executive Officer of Eni, Claudio Descalzi met in Baghdad this week
Bahrain's oil minister, Shaikh Mohammed bin Khalifa Al-Khalifa, met with Saudi Aramco's chief technology officer (CTO) to discuss potential partnerships
USA’s Occidental will receive 35-year concession and invest $244 mn during the exploration phase of Onshore Block 3
This is expected to boost production at the giant field to 450,000 barrels per day (bpd) by 2021, up from current output of 240,000 bpd.
