China Offshore Oil Engineering Co., Ltd. (COOEC) has received an award notification from QatarEnergy for the MM EPIC2 project. The scope encompasses over 100 kilometers of subsea pipelines, cables, and umbilical lines for the Maydan Mahzam offshore redevelopment. The contract lifts COOEC's cumulative Middle East order intake past 50 billion yuan over three years.
Saudi Arabia and the UAE are set to assist Asian nations in expanding their crude oil reserves, Nikkei Asia reported. The two Gulf energy producers are also expected to provide priority crude supplies during emergency situations. The initiative includes exploring agreements to store crude oil in Asian locations to enhance regional energy security.
China Eleventh Chemical Construction Company has been awarded two construction packages for the 890-megawatt Duqm power project in Oman. The $910 million combined-cycle gas turbine project is being developed by Coastal Power SAOC, a consortium that includes UAE-based Etihad Water and Electricity. Commercial operations for the power generation facility are scheduled for 2029.
Group of Seven leaders have agreed to release 100 million barrels of crude oil and fuel reserves over four months to address surging energy prices and market volatility. The coordinated plan, executed through the International Energy Agency, frontloads a substantial volume of diesel during the first 20 days. The group also committed to synchronising refinery maintenance schedules and urged the full restoration of navigation in the Strait of Hormuz.
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