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Oilfield Services Firms See Mideast NOCs Driving Long Term Growth
...contribution is the lowest since 2011, whilst the region’s share of Halliburton’s overall earnings has rapidly slid since peaking at 35% in Q2 2020: the Q1 2021 figure was just 25%. Halliburton says the largest contributor to its 6% fall in Mideast & Asia revenue for Q1 was “lower stimulation an...
Volume: 64Issue: 17Published at Fri, 30 Apr 2021 -
Gulf Offshore Market Firms, Now For Sustained Growth?
...gistical challenges. From near-records of over 50 active drilling rigs at the start of 2020, the region’s rig count collapsed to average just 25 for Q4 last year, the lowest figure since 1Q 2011 (see chart). Italy’s Saipem blamed “project rephasing” in the Middle East as a key source of its slump in...
Volume: 64Issue: 17Published at Fri, 30 Apr 2021 -
Abu Dhabi’s Taqa: Upstream Down Despite Price Recovery, Power Steady
...83bn in 2018, having peaked at $7.57bn in 2012. Last year power and water provided 53.0% of Taqa’s income, and upstream operations contributed 31.3%. This marks a near-reversal from 2011 when upstream’s peak contribution was 44.8% and power and water accounted for 30.2%. Taqa’s results also separate ou...
Volume: 62Issue: 17Published at Fri, 26 Apr 2019 -
Total Sees Partnerships, Technology, Exploration Driving Growth
...gionally and globally, in a bid to drive production from 2.3mn boe/d in 2012 to its targeted 3mn boe/d by 2017. The group’s expected Middle East production of around 550,000 boe/d this year is slightly down on 2011’s 570,000 boe/d. Privately officials concede that the region’s operating environment is cu...
Volume: 56Issue: 17Published at Fri, 26 Apr 2013