McDermott has secured a three-year extension of its Long-Term Agreement (LTA) Framework with Aramco to support ..Read More

McDermott has secured a three-year extension of its Long-Term Agreement (LTA) Framework with Aramco to support both brownfield and greenfield offshore developments in Saudi Arabia. This extension strengthens McDermott’s role in Saudi offshore energy projects and aligns with Saudi Vision 2030 by supporting the IKTVA program. McDermott also plans to complete its SAFIRA fabrication yard to boost local project delivery capabilities and expand its Saudi-based workforce and infrastructure.
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Saipem has renewed its Long-Term Agreement (LTA) with Saudi Aramco until the end of 2027, reaffirming its posi ..Read More

Saipem has renewed its Long-Term Agreement (LTA) with Saudi Aramco until the end of 2027, reaffirming its position among the select contractors eligible to bid for CRPOs related to new offshore projects and production maintenance in Saudi Arabia. If awarded, projects will be executed by a consortium of Snamprogetti Saudi Arabia and STAR, leveraging local facilities established in 2008. The renewal highlights Saipem’s long-standing partnership with Aramco and its continued role in Saudi Arabia's offshore energy sector.
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ADNOC Drilling Company PJSC has secured a $1.63 billion, five-year contract from ADNOC Offshore to deliver Int ..Read More

ADNOC Drilling Company PJSC has secured a $1.63 billion, five-year contract from ADNOC Offshore to deliver Integrated Drilling Services (IDS), including directional drilling, fluids, cementing, wireline logging, and tubular services. The contract strengthens ADNOC Drilling’s role in expanding advanced offshore energy services and supports its strategic growth in IDS, leveraging AI and advanced technologies. It provides revenue stability through 2025–2026 and reinforces its leadership in the UAE’s energy sector.
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ADNOC has signed a 15-year Sales and Purchase Agreement with Japan’s Mitsui & Co. for up to 0.6 mtpa of lowe ..Read More

ADNOC has signed a 15-year Sales and Purchase Agreement with Japan’s Mitsui & Co. for up to 0.6 mtpa of lower-carbon LNG from the Ruwais LNG project, which is set to begin operations in 2028. This is the fifth long-term LNG SPA for Ruwais, a plant known for its low carbon intensity and AI-driven technology. With 8 mtpa of its 9.6 mtpa capacity already committed, the project reinforces ADNOC’s global LNG presence and Japan’s energy security. Upon completion, ADNOC Gas will acquire ADNOC’s stake, boosting its LNG capacity to ~15 mtpa.
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OQ and Royal Vopak have signed an exclusive partnership framework agreement to develop industrial and energy t ..Read More

OQ and Royal Vopak have signed an exclusive partnership framework agreement to develop industrial and energy terminal infrastructure in the Special Economic Zone at Duqm (SEZAD), Oman. The alliance aims to support Duqm’s emergence as a global energy hub, attract international investment, create jobs, and advance sustainable energy transition facilities. The collaboration leverages Vopak’s global expertise and aligns with Oman Vision 2040 to strengthen energy infrastructure and global connectivity.
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Lamprell has successfully extended its Offshore Long-Term Agreement (LTA) with Aramco, continuing a strategic ..Read More

Lamprell has successfully extended its Offshore Long-Term Agreement (LTA) with Aramco, continuing a strategic partnership that began in 2018. The renewal highlights Lamprell’s delivery of multiple LTA projects from its UAE facility and its commitment to Saudi Arabia’s Vision 2030 and IKTVA initiatives. With a growing presence in Saudi Arabia and involvement in the International Maritime Industries joint venture, Lamprell reinforces its role in supporting the Kingdom’s energy and maritime sectors.
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ADES Holding Company has secured contract renewals and extensions worth USD 470 million for offshore jackup ri ..Read More

ADES Holding Company has secured contract renewals and extensions worth USD 470 million for offshore jackup rigs in Saudi Arabia and Egypt. In Saudi Arabia, a suspended rig has been renewed for a 10-year term, enhancing long-term revenue visibility. In Egypt, three rigs—Admarine III, V, and VI—operating with General Petroleum Company have received extensions: Admarine V for 3 years (plus 1-year optional), and Admarine III and VI for 1 year each with optional 1-year extensions starting in 2025–2026.
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Aramco, Sinopec, and Yasref have signed a Venture Framework Agreement to develop a major petrochemical expansi ..Read More

Aramco, Sinopec, and Yasref have signed a Venture Framework Agreement to develop a major petrochemical expansion at Yasref in Yanbu, marking its 10th anniversary. The project includes a 1.8 million tons/year mixed feed steam cracker and a 1.5 million tons/year aromatics complex, integrated with the existing refinery. This aligns with Aramco’s strategy to convert up to 4 million barrels/day of crude into petrochemicals by 2030 and deepens its long-term partnership with Sinopec.
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