Total ADNOC deal : Total has made a AED5.3 billion ($1.45 billion) deal with the Abu Dhabi National Oil Company (ADNOC) to take stakes in two new offshore blocks in Abu Dhabi. As per the agreements signed by the parties, the French oil and gas giant has secured a stake of 20% in the Umm […]
Eni has signed a couple of concession agreements to acquire a stake of 5% and 10% in the Lower Zakum offshore oil field and the Umm Shaif and Nasr oil, condensate and gas offshore fields, respectively in offshore Abu Dhabi for a price of around $875 million. The stakes bought from ADNOC are for duration […]
Estonia-based Milrem Robotics has unveiled a new unmanned ground vehicle at Unmanned Systems Exhibition and Conference (UMEX) 2018 in Abu Dhabi, named as THeMIS, which has been designed to operate mainly in desert terrain and hot climates. Milrem Robotics said that THeMIS, which was previously exhibited at IDEX 2017, had remained in the UAE where […]
Cepsa, a Spanish oil and gas company has picked up a participating stake of 20% in an Abu Dhabi offshore concession SARB and Umm Lulu for a price of AED 5.5 billion ($1.5 billion). The stake in the Abu Dhabi offshore concession was granted by the Abu Dhabi National Oil Company (ADNOC), representing the Abu […]
Oil and gas industry news : Three Indian state-controlled oil firms ONGC, Indian Oil Corporation (IOC) and Bharat Petroleum have acquired a 10% stake in consortium in an offshore Abu Dhabi oil field – the Lower Zakum oil field for a price of AED2.2bn ($600m). ONGC and Bharat Petroleum are represented by their international arms […]
Amazon Souq acquisition news : Ending days of speculation, e-commerce giant Amazon has finally announced its acquisition of Souq.com, a well-known online retailer in the Arab World. Amazon Souq Acquisition Details While the acquisition price agreed by the parties hasn’t been revealed, one suspects it could be over the $800 million that was offered by […]