MEOG - Middle East Oil & Gas

Category
Oil & Gas

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Overview

With around 40% of the world’s oil supply coming from the Persian Gulf, in addition to exploration and production (E&P), MEOG’s coverage includes policy and transport issues which can cause price spikes in the global hydrocarbon markets.

MEOG offers insight into the latest developments in the oil and gas sectors of Bahrain, Iraq, Iran, Israel, Jordan, Kuwait, Lebanon, Oman, Qatar, Saudi Arabia, Syria, Turkey, the UAE and Yemen. While much of the region has been extensively explored, there remain ‘frontier’ areas of E&P. Oil shale efforts in Jordan could provide vast resources through the greater cost effectiveness of new technologies. To the north-west, Beirut has grown increasingly impatient to follow the major gas discovery trend in the Eastern Med. and Lebanon’s first offshore bid round is likely to kick off drilling campaigns in the medium term.

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Oman launches FEED tender for Saih Nihayda NGL project

27 February 2026

OQ Group has issued a Front End Engineering Design tender for the Saih Nihayda natural gas liquids extraction plant, marking a significant step in expanding Oman’s gas processing capacity.

Turkish Petroleum sells $1bn debut five-year sukuk at 6.30% coupon

26 February 2026

Turkish Petroleum has sold a $1bn debut sukuk eurobond (XS3304298287) due 2031 at a coupon rate and yield-to-investor of 6.30% (priced at 100), IFR reported on February 25.

Iran restores gas supplies to Iraq, meeting 40% of power demands

26 February 2026

Iran has resumed natural gas exports to Iraq at a rate of about 7mn cubic metres per day, helping to ease pressure on the country’s struggling power sector.

Lufkin secures multi-year PDO contract in Oman oilfields

26 February 2026

Lufkin Industries has secured a long-term performance agreement from Petroleum Development Oman to provide Rod Driven Progressive Cavity Pumping systems across the Marmul-Rahab-Thuleilat-Qaharir fields, known collectively as Marmul and RTQ.

UK Capricorn Energy aims to double oil operations in Egypt

26 February 2026

UK energy services firm Capricorn Energy is looking to double its operations in Egypt's oil sector and to support energy infrastructure and skilled workforce

Turkey’s sovereign wealth fund reportedly in discussions on potential $10bn petrochemical project

26 February 2026

Turkey's sovereign wealth fund is in discussions with international parties on a potential $10bn petrochemical project in the country, CEO Arda Ermut was reported on February 25 as saying.

Iraq's oil exports in January 2026 reach 107mn barrels, earning $6.5bn

26 February 2026

The Iraqi Ministry of Oil exported a total of 107.6mn barrels of crude oil during January 2026, earning approximately $6.485bn in revenue

Iraq expects West Qurna 2 output to reach 800,000 bpd under Chevron management

25 February 2026

Iraq expects the West Qurna 2 oil field to nearly double once US energy giant Chevron assumes operations.

Petrobel brings new oil well into production in Egypt’s Sinai

25 February 2026

Petrobel, a joint venture between the state-owned Egyptian General Petroleum Corporation (EGPC) and Italian oil major Eni, has brought the Balaim Offshore 133 well into production in the Sinai fields

Iran, Azerbaijan discuss co-operation on Caspian field

24 February 2026

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

24 February 2026

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

24 February 2026

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

24 February 2026

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

24 February 2026

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

24 February 2026

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

24 February 2026

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

24 February 2026

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

23 February 2026

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

23 February 2026

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

22 February 2026

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

21 February 2026

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

21 February 2026

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

21 February 2026

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

21 February 2026

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

21 February 2026

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.

Edited by

Frazer Simm

Editor

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