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05 May 2025
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May 05, 2025Gulf Oil and Gas
Valaris Limited (“Valaris” or the “Company”) announced that it has agreed to sell jackup VALARIS 247 to BW Energy (“BWE”) for cash proceeds of approximately $108 million. This sale is expected to close in the second half of 2025, subject to customary closing conditions. As part of the sales agreement, BWE will be restricted from using the rig outside of BWE-owned or affiliated properties for the rig’s expected remaining useful life.
President and Chief Executive Officer Anton Dibowitz said, “We are pleased to announce this highly accretive, opportunistic transaction to sell VALARIS 247, a 27-year-old jackup currently working offshore Australia. Upon closing, the sale proceeds will provide us with additional financial flexibility, including the return of capital to shareholders.”
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Blm Fast-Tracks Review Of 74-Mile Montana Gas Pipeline Project(P&GJ) — The Bureau of Land Management (BLM) has launched an environmental review of a proposed 74-mile natural gas pipeline that would run from Helena to Three Forks, Montana.
The project is being reviewed under an accelerated 14-day process in response to the national energy emergency declared by President Donald J. Trump.
If approved, the pipeline would be developed by NorthWestern Energy to expand natural gas capacity in western Montana and strengthen regional energy infrastructure. The proposed 16-inch buried pipeline would be built in phases from spring 2026 through fall 2029.
The route would cross approximately seven miles of BLM-managed public lands and follow an existing utility corridor to limit new ground disturbance and reduce ecological impacts.
BLM officials say the agency plays a key role in managing access to critical minerals and traditional energy resources on federal lands, supporting both national energy security and industrial operations.
Additional details can be found on the BLM National NEPA Register.
Pipeline Gas Journal
oil-gas
12 June 20255 min readBlm Fast-Tracks Review Of 74-Mile Montana Gas Pipeline Project
Pipeline Gas Journal
12 June 2025
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Adnoc Gas Takes Fid, Awards $5 Billion In Contracts For Rgd ProjectADNOC Gas has taken a FID and awarded $5 billion in contracts for the first phase of its Rich Gas Development (RGD) Project.
The contracts involve expanding key processing units to increase throughput and improve operational efficiency across four ADNOC Gas facilities: Asab, Buhasa, Habshan and the Das Island liquefaction facility. The company intends to take FIDs on two additional phases at Habshan and Ruwais to deliver greater production capacity.
EPCM contracts have been awarded in three tranches for phase 1. The first tranche, valued at $2.8 billion, has been awarded to Wood for the Habshan facility. The remaining two tranches – $1.2 billion for Das Island and $1.1 billion for the Asab and Buhasa facilities – have been awarded to Petrofac and Kent.
Phase 1 of the RGD project focuses on optimizing and de-bottlenecking existing gas assets while unlocking new and valuable gas streams.
Drilling Contractor
oil-gas
11 June 20255 min readAdnoc Gas Takes Fid, Awards $5 Billion In Contracts For Rgd Project
Drilling Contractor
11 June 2025
oil-gas
Kent Awarded $1.1 Billion Contract From Adnoc GasKent announces that it has been awarded a major Engineering, Procurement and Construction Management (EPCM) contract from ADNOC Gas.
The value of the contract is approximately $1.1 billion.
The Project is related to the optimisation and expansion of its Asab and Buhasa gas processing facilities. This award marks a significant chapter in Kent’s decades-long partnership with ADNOC and strengthens its position as a leading EPCM contractor in the region.
The award is part of ADNOC Gas’ broader $5 billion Rich Gas Development (RGD) Project, a strategic initiative designed to unlock new gas reservoirs, boost liquid gas exports and enhance gas self-sufficiency for the UAE. Kent’s scope will focus on debottlenecking and optimising existing assets at the Asab and Buhasa sites, enabling increased throughput and improved operational efficiency to meet growing energy demands.
With this award, Kent continues to build on its established track record of delivering complex EPCM scopes for ADNOC and other leading operators across the Middle East. The company’s extensive regional presence, technical depth and longstanding client relationships have made it a trusted partner in delivering safe, innovative and sustainable project outcomes.
Tush Doshi, Chief Operating Officer at Kent, commented: “This contract award is a clear testament to the strength of our relationship with ADNOC and our track record of successful delivery in the UAE. We are proud to support ADNOC Gas’ strategic ambitions with this important work at Asab and Buhasa. It reflects the confidence placed in Kent’s EPCM expertise and our commitment to excellence, safety and long-term value creation.”
The Rich Gas Development project plays a vital role in ADNOC Gas’ strategy to grow between 2023 and 2029. ADNOC Gas has also underscored its commitment to enhancing In-Country Value (ICV), with plans to create hundreds of new technical roles by 2029, contributing to the UAE’s national economic growth.
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Saudi Gulf Projects
oil-gas
11 June 20255 min readKent Awarded $1.1 Billion Contract From Adnoc Gas
Saudi Gulf Projects
11 June 2025
oil-gas
Developers Plan 18.7 Gw In Gas Power Additions By 2028, Eia Says(Reuters) — Developers plan to add 18.7 gigawatts (GW) of combined-cycle capacity to the U.S. power grid by 2028, following minimal additions in the previous year, the Energy Information Administration said on June 11.
About 4.3 GW is already under construction, according to the EIA.
Most of the country's existing natural gas-fired capacity comes from combined-cycle gas turbines (CCGTs), which are flexible and efficient power generators.
Additions of 1.6 GW of CCGT are planned for 2025, the EIA said, a sharp increase from the 98 MW added in 2024 at Louisiana's Plaquemines plant.
The slowdown in recent CCGT projects was partly due to a growing shift toward renewables such as solar and wind, driven in part by lower construction costs and federal incentives.
More than half of the 3.3 GW expected in 2026 is already under construction, while most of the additions planned for 2027 are not yet under construction.
An additional 10.6 GW could be added in 2028, potentially marking the largest annual increase in CCGT capacity since 2018, the EIA said.
However, these projects need to move through regulatory processes and secure equipment, making their completion timelines uncertain.
Pipeline Gas Journal
oil-gas
11 June 20255 min readDevelopers Plan 18.7 Gw In Gas Power Additions By 2028, Eia Says
Pipeline Gas Journal
11 June 2025
oil-gas
Adnoc Gas Awards $5 Billion Contracts For Rich Gas Development (Rgd) ProjectUAE’s ADNOC Gas Plc , a world-class integrated gas processing and sales company, announced it has taken a FID and awarded $5 billion in contracts for the first phase of its Rich Gas Development (RGD) Project, marking a key milestone in the company’s largest-ever capital investment.
EPCM contracts have been awarded in three tranches for phase 1.
The first tranche, valued at $2.8 billion, has been awarded to Wood for the Habshan facility.
The remaining two tranches – $1.2 billion for the Das Island liquefaction facility and $1.1 billion for the Asab and Buhasa facilities – have been awarded to two consortia: Petrofac; and Kent Plc.
The contracts involve expanding key processing units to increase throughput and improve operational efficiency across four ADNOC Gas Facilities: Asab, Buhasa, Habshan (Onshore), and the Das Island liquefaction facility (Offshore). The company intends to take FIDs on two additional phases of the RGD project at Habshan and Ruwais to enable the delivery of greater production capacity to meet growing market demands.
The RGD project will enable the development of new gas reservoirs, which are key to boosting liquid gas exports, supporting gas self-sufficiency in the UAE, and providing essential feedstock to the country’s growing petrochemical industry.
Fatema Al Nuaimi, Chief Executive Officer of ADNOC Gas, said: “The FID and contract awards for the first phase of the Rich Gas Development project mark a significant milestone in ADNOC Gas’ strategy to deliver +40% EBITDA growth between 2023 and 2029. This strategic investment is expected to deliver significant new value for our shareholders and enable continued sustainable growth for the company, our employees, and the UAE.”
Phase 1 of the RGD project focuses on optimizing and debottlenecking existing gas assets while unlocking new and valuable gas streams. As part of ADNOC Gas’ long-term strategy, which is focused on growth and futureproofing its business, the RGD project aligns with the company’s vision to deliver important growth initiatives between 2025 and 2029. Additionally, the RGD project highlights ADNOC Gas’ commitment to enhancing In-Country Value (ICV), with plans to create hundreds of new, field-based technical positions by 2029, further contributing to the UAE’s economic growth.
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Saudi Gulf Projects
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10 June 20255 min readAdnoc Gas Awards $5 Billion Contracts For Rich Gas Development (Rgd) Project
Saudi Gulf Projects
10 June 2025
oil-gas
Adnoc Gas Awards $5 Billion In Contracts For Rich Gas Development ProjectADNOC Gas has reached final investment decision (FID) and awarded $5 billion in contracts for the first phase of its Rich Gas Development (RGD) Project, marking a key milestone in the company’s largest-ever capital investment.
The contracts involve expanding key processing units to increase throughput and improve operational efficiency across four ADNOC Gas Facilities: Asab, Buhasa, Habshan (Onshore), and the Das Island liquefaction facility (Offshore). The company intends to take FIDs on two additional phases of the RGD project at Habshan and Ruwais to enable the delivery of greater production capacity to meet growing market demands.
The RGD project will enable the development of new gas reservoirs, which are key to boosting liquid gas exports, supporting gas self-sufficiency in the UAE, and providing essential feedstock to the country’s growing petrochemical industry.
EPCM contracts have been awarded in three tranches for phase 1. The first tranche, valued at $2.8 billion, has been awarded to Wood for the Habshan facility. The remaining two tranches – $1.2 billion for the Das Island liquefaction facility and $1.1 billion for the Asab and Buhasa facilities – have been awarded to two consortia: Petrofac; and Kent Plc.
“The FID and contract awards for the first phase of the Rich Gas Development project mark a significant milestone in ADNOC Gas’ strategy to deliver +40% EBITDA growth between 2023 and 2029," said Fatema Al Nuaimi, Chief Executive Officer of ADNOC Gas. "This strategic investment is expected to deliver significant new value for our shareholders and enable continued sustainable growth for the company, our employees, and the UAE.”
Phase 1 of the RGD project focuses on optimizing and debottlenecking existing gas assets while unlocking new and valuable gas streams. As part of ADNOC Gas' long-term strategy, which is focused on growth and futureproofing its business, the RGD project aligns with the company’s vision to deliver important growth initiatives between 2025 and 2029.
Additionally, the RGD project highlights ADNOC Gas’ commitment to enhancing In-Country Value (ICV), with plans to create hundreds of new, field-based technical positions by 2029, further contributing to the UAE’s economic growth.
World Oil
oil-gas
10 June 20255 min readAdnoc Gas Awards $5 Billion In Contracts For Rich Gas Development Project
World Oil
10 June 2025
oil-gas
Nigeria'S $5 Billion Oil-Backed Loan From Aramco Delayed By Oil Price Drop, Sources Say(Reuters) — Nigeria and Saudi Arabian oil company Aramco are struggling to reach an agreement on a record $5 billion oil-backed loan after a recent decline in crude prices sparked concern among banks that were expected to back the deal, four sources told Reuters.
The facility would be Nigeria's largest oil-backed loan to date and Saudi Arabia's first participation of this scale in the country, although the decline in oil price could shrink the size of the deal, the sources said.
Nigeria's President Bola Tinubu, two of the sources said, first broached the loan in November when he met with Saudi Crown Prince Mohammed bin Salman in Riyadh at the Saudi-African Summit. Details and progress on the loan talks have not been previously reported.
The slow progress in discussions reflects the strain of the recent oil price drop, caused largely by a shift in OPEC+ policy to regain market share rather than curtail supply.
Brent has fallen about 20% to around $65 per barrel from above $82 in January. A lower oil price means Nigeria could need more barrels to back the loan, but years of under-investment are complicating its ability to meet production goals.
Tinubu sought approval for $21.5 billion in foreign borrowing last month to bolster the budget, and the $5 billion oil-backed facility under discussion with Aramco would be part of that, sources said.
The banks involved in the talks that are expected to co-fund part of the loan with creditor Aramco have expressed concerns about oil delivery, which has slowed discussions, sources said.
Gulf banks and at least one African lender are involved, they added. Reuters could not establish the banks' identities.
"It's hard to find anyone to underwrite it," one source said, citing concerns over the availability of the cargoes.
Saudi Aramco declined to comment. Nigeria's state-owned oil company NNPC did not comment, and neither did the finance or petroleum ministries.
Scarce Oil
Nigeria has years of experience taking out - and repaying - oil-backed loans - which the government uses for budget support, shoring up foreign reserves or to revamp state-owned refineries.
At $5 billion, the Aramco loan would be backed by at least 100,000 barrels per day of oil, the sources said.
However, it would almost double the roughly $7 billion of oil-backed loans taken in the last five years.
Nigeria is using at least 300,000 bpd to repay NNPC's other oil-backed loans, though one facility is expected to be paid off this month.
The amount of oil going towards repaying existing oil-backed loans is fixed, but when the crude price falls, it takes longer to repay them.
Additionally, lower prices mean the NNPC has to funnel more crude oil to joint-venture partners, from international majors like Shell to local producers like Oando or Seplat, for its portion of operation costs.
"You have to either find more oil, or find a way to renegotiate those deals," another source said.
Nigerian trading firm Oando is expected to manage the offtake of the physical cargoes, the sources said.
Oanda did not comment.
NNPC is trying to boost output, while Tinubu issued an executive order aimed at cutting production costs, which would free more money from each barrel.
Africa's largest oil exporter assumed a price of $75 per barrel in its budget, with production of 2 million bpd. But in April, it pumped just under 1.5 million bpd, according to the May OPEC market report.
Pipeline Gas Journal
oil-gas
10 June 20255 min readNigeria'S $5 Billion Oil-Backed Loan From Aramco Delayed By Oil Price Drop, Sources Say
Pipeline Gas Journal
10 June 2025
oil-gas
Adnoc Gas Approves $5 Billion For First Phase Of Rich Gas Project(P&GJ) — ADNOC Gas has made a final investment decision and awarded $5 billion in engineering contracts for the first phase of its Rich Gas Development (RGD) project, the largest capital investment in the company’s history.
The phase one contracts include major upgrades to four ADNOC Gas sites — Asab, Buhasa, Habshan, and the offshore Das Island liquefaction facility — with the goal of boosting throughput and efficiency. Two more investment decisions are expected in future phases, covering expansion at Habshan and Ruwais.
The RGD project aims to tap new gas reservoirs to support the UAE’s energy self-sufficiency, increase liquid gas exports, and supply feedstock to its petrochemical sector.
EPCM contracts were awarded in three tranches. Wood received a $2.8 billion contract for Habshan. A $1.2 billion contract for Das Island and a $1.1 billion contract for Asab and Buhasa were awarded to two consortia: Petrofac and Kent Plc.
“The FID and contract awards for the first phase of the Rich Gas Development project mark a significant milestone in ADNOC Gas’ strategy to deliver +40% EBITDA growth between 2023 and 2029,” said CEO Fatema Al Nuaimi. “This strategic investment is expected to deliver significant new value for our shareholders and enable continued sustainable growth for the company, our employees, and the UAE.”
ADNOC Gas said the RGD project will also contribute to In-Country Value (ICV) through the creation of hundreds of new technical positions by 2029.
Pipeline Gas Journal
oil-gas
10 June 20255 min readAdnoc Gas Approves $5 Billion For First Phase Of Rich Gas Project
Pipeline Gas Journal
10 June 2025
oil-gas
Wood Secures $2.8B Epcm Contract To Expand Adnoc Gas Habshan FacilityJohn Wood Group PLC ('Wood' or 'the Company') has been awarded a $2.8 billion contract by ADNOC to deliver an engineering, procurement and construction management (EPCm) package for the long-term gas processing facilities at the UAE's Habshan facility. The contract value includes pass through revenue, with Wood anticipated to recognise c $400 million of revenue through EPCm services.
Wood's scope includes the delivery of substantial upgrades and debottlenecking solutions to the existing Habshan and Habshan 5 gas processing mega-complexes and pipelines, including brownfield modifications and the installation of new facilities.
The Rich Gas Development (RGD) project will increase efficiency and modernise the facility to support increased gas output from ADNOC's upstream expansion. Habshan is one of the largest gas process complexes in the world.
Ken Gilmartin, CEO at Wood, said:
"ADNOC Gas' RGD programme is pivotal to the UAE's energy security strategy and broader economy. We're proud to be at the heart of such a significant initiative.
"Wood gained extensive knowledge of Habshan delivering the front-end engineering design and we will deliver the EPCm phase while the facilities remain fully operational in order to sustain critical gas supply.
"This win reinforces our position as a leader in highly complex engineering and project delivery solutions at considerable scale."
The project will be delivered by more than 500 Wood engineering, project management and commissioning specialists based in Abu Dhabi with support from the company's global engineering hubs. This scope is due to complete at the end of 2027.
Gulf Oil and Gas
oil-gas
10 June 20255 min readWood Secures $2.8B Epcm Contract To Expand Adnoc Gas Habshan Facility
Gulf Oil and Gas
10 June 2025
oil-gas
Adnoc Takes Fid, Awards $5 B In Contracts For Phase 1 Of Its Rich Gas Development ProjectADNOC Gas Plc and its subsidiaries announced it has taken a FID and awarded $5 billion in contracts for the first phase of its Rich Gas Development (RGD) Project, marking a key milestone in the company’s largest-ever capital investment.
The contracts involve expanding key processing units to increase throughput and improve operational efficiency across four ADNOC Gas Facilities: Asab, Buhasa, Habshan (Onshore), and the Das Island liquefaction facility (Offshore). The company intends to take FIDs on two additional phases of the RGD project at Habshan and Ruwais to enable the delivery of greater production capacity to meet growing market demands.
The RGD project will enable the development of new gas reservoirs, which are key to boosting liquid gas exports, supporting gas self-sufficiency in the UAE, and providing essential feedstock to the country’s growing petrochemical industry.
EPCM contracts have been awarded in three tranches for phase 1. The first tranche, valued at $2.8 billion, has been awarded to Wood for the Habshan facility. The remaining two tranches – $1.2 billion for the Das Island liquefaction facility and $1.1 billion for the Asab and Buhasa facilities – have been awarded to two consortia: Petrofac; and Kent Plc.
Fatema Al Nuaimi, Chief Executive Officer of ADNOC Gas, said: “The FID and contract awards for the first phase of the Rich Gas Development project mark a significant milestone in ADNOC Gas’ strategy to deliver +40% EBITDA growth between 2023 and 2029. This strategic investment is expected to deliver significant new value for our shareholders and enable continued sustainable growth for the company, our employees, and the UAE.”
Phase 1 of the RGD project focuses on optimizing and debottlenecking existing gas assets while unlocking new and valuable gas streams. As part of ADNOC Gas' long-term strategy, which is focused on growth and futureproofing its business, the RGD project aligns with the company’s vision to deliver important growth initiatives between 2025 and 2029. Additionally, the RGD project highlights ADNOC Gas’ commitment to enhancing In-Country Value (ICV), with plans to create hundreds of new, field-based technical positions by 2029, further contributing to the UAE’s economic growth.
Gas Processing and LNG
oil-gas
10 June 20255 min readAdnoc Takes Fid, Awards $5 B In Contracts For Phase 1 Of Its Rich Gas Development Project
Gas Processing and LNG
10 June 2025
oil-gas
Canada Confirms Work Has Begun On 559-Mile Prince Rupert Gas Pipeline(Reuters) — British Columbia's Environmental Assessment Office has determined that work on the Prince Rupert Gas Transmission natural gas pipeline project has been substantially started, the provincial government said on June 5.
The decision means a 2014 environmental assessment certificate for the project will remain in effect indefinitely, unless suspended or cancelled under the Environmental Assessment Act, the B.C. government said in a press release.
The 900-kilometer (559-mile) PRGT project will run from Hudson's Hope in northeastern B.C. to Lelu Island near Prince Rupert on Canada's Pacific Coast.
It was acquired from TC Energy by the Nisga'a First Nation and the Western LNG in March 2024 to supply natural gas to the proposed 12 million tonnes per annum Ksi Lisims liquefied natural facility.
The 2014 environmental assessment certificate required that the project show substantial progress by November 25, 2024.
The B.C. Environmental Assessment Office launched a review process late last year to examine whether work had started, considering site inspections, documentation from PRGT and input from local First Nations.
The government statement said compliance and enforcement officers will continue to monitor the PRGT project throughout construction and operation to ensure it meets all environmental requirements.
Pipeline Gas Journal
oil-gas
06 June 20255 min readCanada Confirms Work Has Begun On 559-Mile Prince Rupert Gas Pipeline
Pipeline Gas Journal
06 June 2025
oil-gas
Britain’S Centrica Signs $27 Billion Gas Deal With Norway’S Equinor(Reuters) — British Gas owner Centrica has signed a 10-year deal worth more than 20 billion pounds ($27.07 billion) with Norway's Equinor to secure gas supplies starting in 2025, both companies said on June 5.
Britain aims to reduce its reliance on gas to help meet climate targets, but around 70% of its homes are still heated using the fossil fuel while gas-fired power plants account for around a quarter of the country's electricity supply.
The agreement, which begins on October 1, will see Equinor deliver five billion cubic meters (bcm) of gas annually until 2035, representing about 10% of Britain's gas demand and enough to supply approximately five million homes, Centrica CEO Chris O'Shea said.
The deal replaces a previous 10-year supply contract between the companies running from 2015 to 2025.
"I think most people don't appreciate just how much we rely on our friends in Equinor, friends in Norway for energy security in the UK," he said in an interview with Reuters.
Britain imported almost two-thirds of its gas demand last year, with half of the imports coming from Norway. Norway has increased its supplies to Europe since flows from Russia to Europe were curtailed after Russia's invasion of Ukraine in 2022.
The Ukraine conflict and subsequent Western sanctions on Russia rocked energy markets, driving up prices that continue to weigh on British consumers.
Britain’s North Sea fossil fuel production has declined sharply since its peak in the late 1990s and the Labour government has said it will not issue any new oil and gas licenses as part of its efforts to meet climate goals.
The contract includes an option to transition from natural gas to hydrogen in the future.
"This deal captures the kind of energy needed today, but at the same time... we can also together explore future energy (needs) like hydrogen," Equinor CEO Anders Opedal said.
Separately, O'Shea also said Centrica is seeking support from the UK government to enable it to invest in its Rough gas storage site, a depleted field off England's east coast, which accounts for about half of the country’s gas storage capacity.
He said Centrica will lose 100 million pounds operating the site this year and that without support, its future is uncertain.
"If we don't have a regulatory support framework for Rough, then I can't see it surviving too much longer," he said.
Britain's Department for Energy and Security and Net Zero did not immediately respond to a request for comment.
($1 = 0.7389 pounds)
Pipeline Gas Journal
oil-gas
05 June 20255 min readBritain’S Centrica Signs $27 Billion Gas Deal With Norway’S Equinor
Pipeline Gas Journal
05 June 2025
oil-gas