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Saudi Arabia: McDermott in pole position for trio of Aramco offshore contracts
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MANAMA, 16 hours, 34 minutes ago Bahrain s nominal GDP (at current prices) for the first quarter of 2021 grew by 1.5% on quarterly basis and 0.3% on an annual basis, said an official report. The growth was supported by the oil sector which grew 29.3% compared to the fourth quarter of 2020, and by 16% compared to the first quarter of 2020. This was as a result of the increase in total oil production from the two fields of Abu Safah, Bahrain and the improvement of global oil prices, said the Q1-2021 Bahrain Economic Quarterly Report published by the Finance and National Economy Ministry. On the other hand, the growth of the non-oil sector declined by 1.9% on a quarterly basis and 1.8% on an annual basis, the report said.
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After the world’s largest IPO ever by Saudi national oil company Aramco, others have been putting up part of their assets also up for sale. Saudi Arabia and the UAE have been leading the flock. Now a new star could emerge, Bahrain’s national oil company NOGA is considering options to access private-equity funding for some infrastructure assets.
Bahrain’s minister of oil Mohammed bin Khalifa Al Khalifa stated to Bloomberg Television that they are considering selling energy assets. The minister indicated that “we have got a lot of infrastructure assets that can easily be” structured for private-equity funding. First target could be to open up Bahrain’s pipeline to Saudi Arabia for a private equity deal. Other options could be an LNG import vessel and several upstream assets. Manama seems to be jumping on the train set in motion by Saudi Arabia, UAE, Qatar and others, to sell energy assets or issue bonds based on these assets.
28 April 2021 2:26 GMT Updated 28 April 2021 6:34 GMT in Singapore
Malaysian contractor and upstream player Sapura Energy is bidding for and has its sights on new work totalling 123 billion ringgit (US$30.02 billion), of which 6% represents opportunities in the offshore wind sector.
Sapura’s current order book is valued at 13.7 billion ringgit, which includes 2020 wins such as three wellhead platforms for Saudi Aramco’s Zuluf, Ribyan and Abu Safah oilfields, and pipeline construction work at the Al-Khalij field in Qatar.
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Sapura’s latest awards include the turnkey contract for Hess’ North Malay Basin full field development Phase 4A and the engineering, procurement, construction, installation and commissioning contract for the mercury removal unit for Mubadala Petroleum’s Pegaga integrated central processing platform.
Sapura Energy eyes contracts worth $30 billion
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