MEOG - Middle East Oil & Gas

Iran, Azerbaijan discuss co-operation on Caspian field

Iran and Azerbaijan plan to work together on the development of a hydrocarbon field in the Caspian Sea, signalling a potential thaw over the disputed reservoir.

Iran hails record gas extraction from South Pars under sanctions

Iran’s Oil Minister Mohsen Paknejad praised an all-time high of daily extraction of 730mn cubic metres (mcm) of natural gas from the colossal South Pars field.

Think tank lists Iranian ports, energy hubs as potential targets of US strikes

A pro-war US think tank has published a list of Iranian civilian infrastructure, including ports and major energy facilities, that it says could be targeted in a potential American strike on Iran.

KBR awarded major contract to manage Iraq’s Majnoon oil field

US-based engineering firm KBR has been awarded a major contract by Basra Oil Company (BOC) to provide Integrated Field Management Services (IFMS) for the Majnoon oil field in southern Iraq

Iran drills 116 oil & gas wells in 11 months, state driller says

The National Iranian Drilling Co. (NIDC) drilled 116 oil and gas wells in the first 11 months of the current Persian calendar year starting on March 21, posting a 23% growth compared with the same period last year, official said.

Egyptian oil firm GUPCO invests $516mn in exploration and infrastructure upgrades

Egyptian Gulf of Suez Petroleum Company (GUPCO) plans to invest $516.5mn during FY 2026/27 in exploration, development activities and operating expenditure, alongside key infrastructure upgrades

Saipem wins $500mn Aramco offshore pipeline contract in Saudi Arabia

Saipem has secured a $500mn Aramco contract to install a 65km offshore trunkline at the Safaniya field, adding to billions in Saudi offshore awards won by the Italian contractor in recent years.

Egyptian General Petroleum plans to drill 66 wells with $167.5mn investment in 2026/27

Egypt’s General Petroleum Company (EGPC) plans to drill 66 wells, including 8 exploratory wells, with a total investment exceeding EGP 8bn ($167.5mn) as part of its strategy for FY 2026/27

SDF denies reports of oil equipment transfers from Rmeilan fields to Iraqi Kurdistan

The Kurdish-led Syrian Democratic Forces (SDF) have firmly denied reports that equipment has been transferred from the Rmeilan oil fields in northeast Syria to Iraq’s Kurdistan Region, dismissing the claims as fabricated.

Iraq signs deal with US Chevron to develop oil fields

Iraq signs major agreement with Chevron to develop its oil fields, driving future energy growth. A pivotal partnership for economic and industrial progress.

Iran installs second off-gas compressor at South Pars Phase 14

Iran’s state-run Pars Oil and Gas Co. (POGC) has set up a second off-gas compressor at Unit 103 of the Phase 14 refinery of the South Pars gas field, a move that will ramp up the recovery of valuable gases and cut flaring at the shared field.

Iran set for South Pars overhaul following crisis, record output

The managing director of the South Pars Gas Complex has announced a major infrastructure overhaul during the upcoming Iranian calendar year.

Chinese contractor wins contract for redevelopment Iraq’s Naft Khana field

China Oil HBP Group has secured a $225mn contract to restore production at the Naft Khana oil field in Iraq’s northeastern Diyala province

Kuwait’s CGCC secures gas gathering contract in PNZ

Combined Contracting Group Co. (CGCC) has secured a KWD10.2mn ($33mn) agreement to deliver gas gathering support services within the Partitioned Neutral Zone (PNZ)

Shared risks give Iran pause from closing Hormuz

Iran is considering awarding Russia the development of a major shared oilfield, Oil Minister Mohsen Paknejad said, as the two countries step up co-operation in the energy sector.

Iran considers letting Russian firms develop shared oilfield

Iran carried out its long-threatened move after years of sabre-rattling to briefly close the Strait of Hormuz, the world’s most critical oil transit checkpoint, as tensions between Tehran and Washington were running high.

Iran says Russia gas import deal to be signed soon

Iran’s Oil Minister Mohsen Paknejad said a contract to import pipeline gas from Russia would be signed soon after the dispute over the two outstanding clauses was resolved.

UAE Mubadala Energy acquires 15% stake in Egypt’s Nargis offshore concession

UAE’s Mubadala Energy has completed the acquisition of a 15% stake from Italian energy major Eni (BIT: ENI) in the Nargis offshore concession, an exploration area located off Egypt’s Mediterranean coast

Turkey hits out at energy field activities of Greece and Chevron, says Libya entitled to object too

Turkey on February 19 objected to energy field activities being conducted by Greece and US major Chevron (CVX.N).

Kuwait's GDP grows 2.8% in first nine months of 2025

UAE's Mubadala Energy acquires stake in Egypt's Nargis offshore concession

Mubadala Energy has completed its acquisition of a 15% participating interest from Eni in the Nargis offshore concession, an exploration block located approximately 50km off Egypt's coast in the Eastern Nile Delta basin.

COMMENT: US strike on Iran is all but inevitable with Trump backed into a corner

As the Iranians continue to make military threats while blocking off the crucial oil transit point of the Strait of Hormuz, it appears that US President Donald Trump will inevitably launch an attack on Iran.

Oil prices surge as Iran closes down Strait of Hormuz, threatening US imports

Brent crude oil prices spiked from $66.54 per barrel to $69.23 after Iran partially shut down the Strait of Hormuz during naval drills conducted on February 18.

Iran to invest $8bn in gas fields to ease petchem feedstock shortfall

The Iranian petrochemical industry plans to invest $8bn to help develop two newly discovered gas fields in the south of the country in a bid to secure feedstock supplies, a union leader said.

Iran’s ICOFC sets record with gas field developments

The Iranian Central Oil Fields Co. (ICOFC) has set a new record by developing three greenfield gas projects in less than 16 months, sharply cutting the time typically required to bring such fields on stream.