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Global oil and gas contract activity saw a 35 percent quarter on quarter decrease in total disclosed value, GlobalData stated. #oilgas #energynews #oilandgas

Saudi Arabia is making significant strides in the oil and gas sector, with several new projects underway. One of the most notable projects is the *Jafurah Shale Gas Project*, which is expected to make Saudi Arabia one of the top gas producers globally by 2030 ¹. This project has already seen investments of over $25 billion, with 16 contracts worth $12.4 billion awarded for construction of gas compression facilities, pipelines, and expansion of the Jafurah Gas Plant ¹. Another significant project is the *Master Gas System Expansion*, which aims to increase Saudi Arabia's gas production by 60% over 2021 levels by the end of the decade ¹. This project involves the construction of 821 km of pipeline and upgrading of existing gas compression systems, with 15 lump-sum turnkey contracts worth about $8.8 billion awarded ¹. Additionally, Saudi Aramco has awarded contracts for the expansion of the *Fadhili Gas Plant*, which will increase its processing capacity by 1.5 Bcf/D ¹. The company also plans to invest over $100 billion in the Jafurah project over its life cycle, with first gas expected by 2025 and a sustainable sales gas rate of 2 Bcf/D by 2030 ¹. Other notable projects in Saudi Arabia include the *Khurais Megaproject*, which aims to increase Saudi Arabia's export capacity from 11.3 to 12.5 million bpd ², and the *Haradh oil and natural gas facility*, which is expected to boost Saudi natural gas production capacity by roughly 25% ³. These projects demonstrate Saudi Arabia's commitment to expanding its oil and gas sector, with a focus on increasing gas production to meet rising demand and support the Kingdom's transition towards a lower-emission power grid ¹.

🚀 Oil and Gas Industry Resilience 🚀 Despite a 22% drop in contract volume in 2023, the oil and gas industry has shown remarkable resilience in maintaining contract value. Key projects like North Field South LNG, Golden Pass LNG, and Hail and Ghasha Field have played a crucial role in this achievement, according to GlobalData. 📉➡️ 🌟 High-Value Contracts 🌟 Pritam Kad, Oil and Gas Analyst at GlobalData, highlighted the importance of high-value contracts from Technip Energies, Consolidated Contractors, Tecnimont, Saipem and NPCC Consortiums, Yinson Holdings, and Hyundai. These contracts, worth billions, have driven industry momentum despite market challenges. https://lnkd.in/giTY3Pts #OilAndGas #Resilience #GlobalData #HighValueContracts #EnergySector #MarketTrends #IndustryAnalysis

That’s great news for Baker Hughes and their partnership with Worley and Aramco on the Saudi Arabia Master Gas System project. The order to supply gas technology equipment for the third phase of the project, including pipeline centrifugal compressors driven by aeroderivative gas turbines, highlights the company’s commitment to supporting Saudi Arabia’s energy transition and reducing carbon emissions. The new 4,000-km pipeline is a significant development that will enhance domestic gas distribution in the Kingdom and contribute to the overall goals of reducing carbon emissions and oil consumption. This project underscores the importance of collaboration between industry leaders like Baker Hughes, Worley, and Aramco in driving innovation and sustainability in the oil and gas sector. It’s great to see companies like Baker Hughes playing a key role in supporting the energy transition and sustainability efforts in Saudi Arabia. This project not only showcases technological advancements in gas technology equipment but also highlights the industry’s commitment to environmental stewardship and reducing carbon footprint.

Oil and gas industry exhibits resilience as contract value sustains despite 22% drop in contract volume during 2023 #oilandgas, #energy, #petrochemicals, #digitaltransformation, #technology https://lnkd.in/etABXFB3

SAMSUNG E&A wins major USD 6 billion Aramco Fadhili Gas Project SAMSUNG E&A, a world leading engineering solutions and project management company, announced , that it had a contracts signing ceremony for the approximately USD 6 billion contracts for Fadhili Gas Increment Program from Aramco. The contracts signing ceremony in Dhahran, Saudi Arabia was attended by Wail Al Jaafari, Aramco EVP of Technical Services, Yahya A. Abushal, Aramco SVP of Upstream and Downstream Project Management and other senior management as well as Hong Namkoong, President and CEO of SAMSUNG E&A. The Fadhili Gas Increment Program objective is to expand the capacity of the existing Fadhili Gas Plant located 350km northeast of Riyadh, the capital of Saudi Arabia. SAMSUNG E&A will execute package #1 Gas Treatment Unit as well as package #4 Utilities and Offsites. Once the project is completed, the daily gas throughput will increase from the existing 2.5 billion cubic feet (2,500 MMSCFD) to 3.8 billion cubic feet (3,800 MMSCFD). SAMSUNG E&A will independently carry out the entire EPC process. SAMSUNG E&A won this project following the Jafurah Gas Treatment Project received in 2021, and therefore performs Saudi Arabia's most representative gas projects one after the other. Saudi Arabia announced their Vision 2030 to raise gas production and distribution capacity in order to reduce dependence on oil and respond to electricity demand due to industrial growth and population growth. Saudi Arabia plans to continue investing in the building of gas plants, and SAMSUNG E&A will actively participate and continue to receive linked contracts related. SAMSUNG E&A plans to diligently utilize local networks and resources based on the rich regional experience it has accumulated, since its first entry into Saudi Arabia in 2003. Further, continues to build on a sustainable and lasting partnership with Aramco. In addition, SAMSUNG E&A plans to apply SAMSUNG E&A's unique execution system, which integrates all of the company's innovative technologies, such as modularization and automation, to the project to drive successful execution. #FadhiliGasProject #epccontract #SAMSUNGEandA #UpstreamandDownstream https://lnkd.in/dv-kkTci

#Nigeriaisopenforbusiness🚀 Work scope Revealed for Keenly Watched $10 Billion Middle East Gas Development! 🌍💼 The Dorra project is expected to produce 1 Bcfd of gas ⛽ and 84,000 bpd of condensate 🛢️ by 2028. Multiple onshore and offshore packages 📦 are being determined by a joint venture of subsidiaries owned by Saudi Aramco and Kuwait Petroleum Corporation (KPC) for the keenly watched $10 billion development of the disputed Dorra offshore gas field. . . . This may be the best time to Unlock Nigeria's Oil & Gas Potential with our Proven Expertise!🚀 💡 Why Invest? Largest market in Africa: With a population of over 200 million people.💰 Strategic oil and gas projects accelerating growth: $19 Billion Dangote Refinery, $4 Billion NLNG Train 7 project, $2.5 billion AKK Gas pipeline project. 💰 Tap into unparalleled success with Olufola Wusu, a recognized market entry authority in Nigeria and with oil and gas experience in six other African nations. Specializing in empowering oil and gas firms, my team at Olufola Wusu strategically navigates complex regulations spotting value and helping to avoid risk throughout your market entry voyage. 💰 Our achievements include helping to shape the framework for domestic use of LNG in Nigeria's National Gas Policy. Expert Leadership: Recognized as a top market entry specialist in Nigeria, success in six African countries; Strategic Guidance: Navigate policies, regulations and local nuances seamlessly. 🌐 Opportunity Awaits: Collaborate with Olufola Wusu for streamlined market entry into Nigeria, the largest LNG producer and Africa's prime market with over 200 million people. Our goal is a clear plan for success. #marketentry #Nigeria #Lagos #lawyers #Nigeriaisopenforbusiness #RegulatoryImpact #oilandgas #LNG #Gas #NigeriaInvestment #InvestmentOpportunities #OilandGas

Subscribe Field Development Baker Hughes wins contract for huge Aramco gas expansion project Company to supply 17 pipeline centrifugal compressors for Saudi state operator New contract: Baker Hughes chief executive Lorenzo Simonelli New contract: Baker Hughes chief executive Lorenzo SimonelliPhoto: REUTERS/SCANPIX Fabio Palmigiani South America CorrespondentRio de Janeiro Published 23 April 2024, 08:17 US oilfield services heavyweight Baker Hughes has won a contract to supply gas technology equipment for work on the third phase of Saudi Aramco’s master gas system (MGS) project. While fresh oilfield projects in Saudi Arabia have taken a back seat following a government directive to pause further expansion of its crude production capacity, Aramco’s gas-based developments are likely to gain momentum in the next few years. According to Baker Hughes, the contract, which was booked in the first quarter of 2024, was ordered by Worley for and on behalf of Aramco. Baker Hughes will supply 17 pipeline centrifugal compressors driven by aeroderivative gas turbines for Aramco’s 4000-kilometre pipeline, which it described as "vital to the Kingdom’s energy transition plans, with expectations to increase domestic gas distribution and contribute to a reduction of carbon emissions and oil consumption". https://lnkd.in/gRxZzJWT

Barossa gas to Darwin LNG project's first gas expected in 2025-Q3 Santo has said that its Barossa gas #project which will backfill the 3.7 MMT/Y Darwin LNG plant for up to 20 years is more than 70% complete with first #gas expected in the third quarter of 2025. Following the recent approval of the revised drilling and completions #environment plan, the first Barossa #well has been “completed” and Santos is currently #drilling the second of six wells as “initial well flow rates are in line with expectations”. The gas flow #carbondioxide content “is at the low end of the expected range.” Santos also continues to pursue its Bayu-Undan #carboncapture and storage project, which would store up to 10 MMT/Y of #CO2, including CO2 from Barossa gas project. Earlier, Santos CEO Kevin Gallagher had admitted that "given the challenges of the past two years", the operator has updated #cost and #schedule guidance for the project, though Barossa first gas still expected in 2025. “The team has done a great job in keeping Barossa close to the original schedule and managing the costs of delay.” Access to the perfect information of the world’s #LNG import/export projects such as “Barossa gas to Darwin LNG project” by subscribing to the Global LNG Database®. Learn more at: https://lnkd.in/dSG73cW The complete article is available at: https://lnkd.in/dguTSFFN #energy #globallngdatabase #database #lngindustry #lngshipping #Engineering #procurement #Construction #foundations #mechanical #gas #liquefaction #facility #construction #constructionindustry #constructionprojects #constructionconsulting #constructionjobs #gasprocessing #energyindustry #energyinfrastructure #buildingconstruction #project #export #utilities #planning #design #investment #oilandgasindustry #onshore #offshore #pipeline #development #projects

⛽️ Aramco Signs $25 Billion New Contracts for Jafurah Phase II and Master Gas Phase III Saudi Aramco has signed contracts for the second phase of Jafurah field project and the third stage of Master Gas System project (MGS), at a total value $ 25 billion. 👉 Jafurah Expansion - New Contracts Sixteen new contracts worth $12.4 billion, for phase two development at Jafurah have been awarded. The works will involve construction of gas compression facilities and associated pipelines, expansion of the Jafurah Gas Plant including construction of gas processing trains, and utilities, sulfur and export facilities. It will also involve construction of the Company’s new Riyas Natural Gas Liquids (NGL) fractionation facilities in Jubail — including NGL fractionation trains, and utilities, storage and export facilities — to process NGL received from Jafurah. 👉 Master Gas System Expansion - New Contracts Fifteen new contracts worth $8.8 billion, are awarded to commence the phase three expansion of the Master Gas System, which delivers natural gas to customers across the Kingdom of Saudi Arabia. The expansion, being conducted in collaboration with the Ministry of Energy, will increase the size of the network and raise its total capacity by an additional 3.15 billion standard cubic feet per day (bscfd) by 2028, through the installation of around 4,000km of pipelines and 17 new gas compression trains. 👍 Progress of Jafurah Expansion The Jafurah unconventional gas field is estimated to contain 229 trillion standard cubic feet of raw gas and 75 billion Barrels of condensate. Phase one of the Jafurah development program, which commenced in November 2021, is progressing on schedule with kick-off scheduled in 3Q 2025. Aramco expects total overall lifecycle investment at Jafurah to exceed $100 billion and production to reach a sustainable sales gas rate of two billion standard cubic feet per day by 2030, in addition to significant volumes of ethane, NGL and condensate. 👍 Progress of Master Gas System Expansion Aramco’s Master Gas System is an extensive network of pipelines that connects Aramco’s key gas production and processing sites throughout the Kingdom of Saudi Arabia. Its expansion will increase access to domestic gas supplies for customers in the industrial, utility and other sectors — providing a lower greenhouse gas emission alternative to oil for power generation. This pioneering network, which now transports associated gas and sales gas, has helped Aramco achieve near-zero routine gas flaring and maintain a flare volume of less than 1% of total raw gas production since 2012, contributing to Aramco having one of the lowest upstream carbon intensities across the industry. Kind regards Rohail Khan Senior Banker / Strategic CFO / Independent Financial Adviser Cell & WhatsApp +966562978219 Email rohailkhan00@gmail.com LinkedIn www.linkedin.com/in/rohail #SaudiVision2030 #SaudiEconomy #OilandGas #SaudiAramco #PIF #Jafurah #RohailKhan