Wednesday 22 May 2024

Acwa seals power purchase deal for largest wind farm in Central Asia

Saudi-based Acwa Power, a leading global utility project developer, has signed a power purchase agreement (PPA) with the National Electric Grid of Uzbekistan for Aral 5GW Wind Independent Power Producer (IPP) project in the Karakalpakstan region. Once completed, it will be the largest wind fa


Honeywell signs agreements to support Iraqi energy sector

Honeywell has entered several Memoranda of Understandings (MoUs) with the Iraqi government and private sector, helping to support the local infrastructure as it faces increasing demand for energy and electricity.   These agreements allow Honeywell to explore str


QatarEnergy to acquire two new exploration blocks offshore Egypt

QatarEnergy has signed a farm-in agreement with ExxonMobil to acquire a 40 per cent participating interest in two exploration blocks offshore Egypt.   Under the terms of the agreement, which is subject to customary approvals by the government of Egypt, QatarEner


Gulf Marine Services succeeds in reducing net debt

Gulf Marine Services (GMS), a leading provider of self-propelled and self-elevating support vessels, has reduced net debt further during the first quarter of the year to $256.4 million, with a net leverage ratio of 2.96 times. Net debt was $267.3 million at year end on December 31, 2023.


Sarens transports, installs 34 modules for Jafurah Gas Plant

Sarens, a leader in heavy lifting, engineered transport and crane rental, has been contracted for the transporting and installation of 34 modules, with a total weight of 18,535 tons, and transportation and lifting of 108 heavy items, with a total weight of 12,283 tons, for the Jafurah Gas Pla


Adnoc Drilling breaks records in Q1, new dividend policy unveiled

Adnoc Drilling reported a record first quarter revenue of $886 million, a 24 per cent increase from the previous quarter, surpassing market expectations for the third consecutive quarter.   The Offshore Jack-up and Oilfield Services (OFS) segments drove revenue


Adnoc Drilling lands $1.7bn unconventional energy deal

Adnoc Drilling has been awarded, by Adnoc, a $1.7 billion contract to provide drilling and associated services for the recovery of unconventional energy resources.    To service the contract, and explore the considerable future opportunities in unconvention

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