ADNOC – Oil & Gas 360

ADNOC and AIQ launch agentic AI solution for global energy transformation

November 4, 2024

(World Oil) – ADNOC and AIQ announced today at ADIPEC the launch of ENERGYai, the world’s first-of-its-kind custom-built agentic artificial intelligence (AI) solution for the global energy transformation. ENERGYai will combine large language model technology with cutting-edge ‘agentic’ AI – AI ‘agents’ that are trained in specific tasks across ADNOC’s value chain. These specialized AI agents bring a new level

ADNOC and AIQ to deploy AI solution that will boost upstream operations

October 18, 2024

(World Oil) – ADNOC announced today the deployment of AIQ’s Advanced Reservoir 360 (AR360) solution on more than 30 reservoirs across ADNOC’s upstream operations, following the solution’s successful initial deployment in early 2024 on two ADNOC reservoirs at Bab and Umm Shaif fields. Developed by AIQ with SLB as part of ENERGYai, ADNOC’s artificial intelligence and digital technology strategy, AR360

ADNOC, SLB, Patterson-UTI partner to accelerate UAE’s unconventional oil and gas program under Turnwell Industries name

September 30, 2024

(World Oil) – SLB announced an agreement to create Turnwell Industries LLC OPC (Turnwell), a joint venture (JV) with ADNOC Drilling Company, SLB and Patterson-UTI. The JV will allow the three companies to leverage leading innovations in AI, smart drilling design, completions engineering and production solutions. The JV will focus on the acceleration of UAE’s unconventional oil and gas program,

ADNOC buys 12% stake in Rio Grande LNG

May 20, 2024

Oil Price ADNOC has bought an 11.7% stake in Phase 1 of NextDecade’s Rio Grande LNG export project in Texas, Abu Dhabi’s national oil company said on Monday, announcing its first strategic investment in the U.S. The state energy firm of the United Arab Emirates (UAE) has also signed a 20-year LNG offtake agreement from Rio Grande LNG Train 4 with NextDecade.

Shell, TotalEnergies in talks for stakes in ADNOC’s Ruwais LNG plant

April 23, 2024

World Oil (Bloomberg) – Shell Plc and TotalEnergies SE are among several global energy companies in talks to buy stakes in Abu Dhabi National Oil Co.’s next liquefied natural gas export project in the United Arab Emirates. The two oil majors, as well as Japanese trading house Mitsui & Co., are looking for equity in the Ruwais facility, as well

BP and ADNOC suspend $2-billion Israel gas deal as Gaza war continues

March 13, 2024

Oil Price BP and the Abu Dhabi National Oil Company (ADNOC) have suspended talks to buy a 50% stake in Israel’s natural gas producer NewMed, due to uncertainty in the region, the Israeli company said on Wednesday. In March 2023, BP and the national oil company of one of the leading Middle Eastern oil and gas producers, the United Arab Emirates (UAE), offered

Baker Hughes wins $400 million LNG contract from ADNOC

October 4, 2023

World Oil (WO) – ADNOC has awarded a contract, valued at more than $400 million (AED 1.47 billion), to Baker Hughes, through its Nuovo Pignone International S.R.L. legal entity, for the supply of all-electric compression systems for the liquefaction of natural gas, to be powered by clean energy, for its low-carbon LNG asset in the Al Ruwais Industrial City, Al

Eni, ADNOC partner for future energy transition, decarbonization projects

March 6, 2023

World Oil (WO) – Claudio Descalzi, Eni CEO, and his Excellency Dr. Sultan Ahmed Al Jaber, UAE Minister of Industry and Advanced Technology and ADNOC Managing Director and Group CEO, signed today a Memorandum of Understanding (MoU) outlining a framework of cooperation for future joint projects on energy transition, sustainability and decarbonization. Source: ReutersThrough this agreement, Eni and ADNOC will

ADNOC to raise $2 billion by listing natural gas business in largest public offering in 2023

February 17, 2023

World Oil (Bloomberg) – The United Arab Emirates’ national oil company plans to raise $2 billion or more by listing its natural gas business in what could the largest initial public offering so far this year. Abu Dhabi National Oil Co. will offer a 4% stake in ADNOC Gas, formed through a merger of liquefied natural gas (LNG) and

ADNOC awards ADNOC Drilling $1.53 billion contract to support offshore operations expansion

October 10, 2022

World Oil Abu Dhabi National Oil Company (ADNOC) announced the award of a contract worth $1.53 billion (AED 5.62 billion) to ADNOC Drilling. The award supports the expansion of ADNOC’s offshore operations and its objective to responsibly increase production capacity and meet the growing global demand for reliable, lower carbon intensity oil and gas. ADNOC Offshore awarded the two-year

ADNOC awards $1.83 billion in contracts for drilling-related services

September 1, 2022

World Oil Abu Dhabi National Oil Company (ADNOC) announced the award of five framework agreements totaling $1.83 billion (AED 6.72 billion) for Directional Drilling and Logging While Drilling (LWD). These agreements should support ADNOC’s efforts to expand production capacity of its low carbon oil and gas resources to help meet the world’s growing demand for energy. The framework agreements are

Morgan Stanley not given advisory role on Aramco pipeline sale: sources

May 28, 2020

Reuters LONDON/DUBAI – Morgan Stanley (MS.N) has not been given an advisory role on the potential sale of a stake in Saudi Aramco’s pipeline business, a deal worth over $10 billion, two sources told Reuters. The U.S. investment bank, which has previously advised the world’s largest oil company, was originally looking to be part of the advisory group on any

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