UAE-based Mubadala Petroleum said it has awarded a major contract to UK-based Petrofac for the modification and extension of contracts related to the FPF-003 floating production, storage and offloading vessel, Jasmine FPSO, which paves the way f
Oil services company Petrofac will reopen its office in Iran, its chief executive said, as the lifting of Western sanctions allows foreign companies to rekindle business ties with Tehran.
"We are keen to go back. We are openi
A group of Gulf investors led by Fajr Capital are in talks to buy Dubai-based oil services firm NPS Energy for up to $700 million, three sources aware of the matter said.
NPS Energy put itself up for sale again after a deal to be
Steady growth in drilling activity outside North America gave a big lift to Schlumberger, the world's largest oil services company, but the US natural gas slump weighed even more than expected on rival Baker Hughes.
British oil services firm Petrofac warned that customers were delaying the award of contracts in its core Middle East market from this year to next, raising analysts' concerns about its profit outlook.
Iraq's cabinet has approved an $843 million service contract with US oilfield services company Weatherford to build crude production units in the Zubair oilfield.
Italy’s Eni, US-based Occidental Petroleum Corporation and South Korea’s
Norwegian oil services firm Aker Solutions has agreed to buy a Dubai-based oil services firm, hoping to improve its recent weak track record of winning contracts in the world's top oil producing region.
Aker Solutions has agreed to buy
MB Holding, an Omani mining and energy group, plans to take advantage of depressed valuations to buy a stake in listed firms on the Toronto and London exchanges, its chairman said on Monday.
Mohamed Al Barwani said the Omani firm, whose op
Oman's Renaissance Services said it uncovered 'serious' issues at its Topaz unit, including financial misconduct and fraud, as the diversified firm posted a 77 percent plunge in its first-half net profit.
Topaz, which pul
Egypt's Maridive and Oil Services said on Monday it won contracts to build two vessels in a Chinese shipyard and had cancelled two jobs in India.
The oil services firm, the biggest in the Middle East by fleet size, said in a statement