Not long after its arrival in Egypt, Arcius Energy — a joint venture between BP and XRG, ADNOC’s international energy investment company — has pledged to invest half a billion dollars in developing the Harmattan field, which will include various offshore well services and other work.
The company announced on 1 April 2026 that it had reached a final investment decision (FID) on the project, a first for the new joint venture company.
The Harmattan gas and condensate field is located 2.5 km north of Ras El Barr in the Damietta Governorate.
Work will “help support and increase natural gas production to meet domestic market needs,” an Arcius Energy statement noted.
Development plans includes the drilling of up to three wells, installation of a fixed offshore platform and the construction of 50-km pipeline linked to onshore processing facilities near Port Said, with production expected to start in 2028.
It marks a rapid timeline with the joint venture only acquiring the rights to the El Burg Offshore concession area in February 2026.
The Arcius Energy statement said that Pharaonic Petroleum Company (PhPC), acting on behalf of El Burg Offshore Petroleum Company, awarded the Engineering, Procurement, Construction, and Installation (EPCI) contract to Egypt’s ENPPI, with Petroleum Marine Services and Petrojet also participating as subcontractors.
Naser Al Yafei, Chief Executive Officer of Arcius, said the Harmattan FID “reflects our confidence in the potential of Egypt’s energy sector” and will further position the country as a regional energy hub within the Eastern Mediterranean.
The project bodes well for additional well services work in the area as the North African country's oil and gas industry continues to mature.
In addition to the El Burg Offshore concession area, Arcius Energy also owns 10% of Shorouk which contains the producing Zohr field, 100% of North Damietta which contains the producing Atoll field, plus stakes in the North El Tabya, Bellatrix-Seti East and North El Fayrouz exploration concessions.
The global well intervention market is entering a period of steady growth, with projections indicating it will rise from US$15.1bn in 2025 to nearly US$22.11bn by 2032 according to a recent report from Maximise Market Research.
In the Middle East, expansion is being driven by a clear need to maintain ageing oilfields while improving efficiency across both onshore and offshore operations.
Across the region, operators are increasingly turning to smarter and more flexible solutions. AI driven platforms and digital workflows are helping companies monitor wells more accurately, predict maintenance needs, and reduce downtime. At the same time, rigless offshore services are gaining traction as they offer a more cost effective and less disruptive way to carry out interventions, especially in mature fields that require regular upkeep.
The Middle East remains one of the most important oil producing regions in the world, and many of its fields have been active for decades. This creates consistent demand for intervention services that can extend well life and maximise output. Technologies such as wireline, coiled tubing, and hydraulic workovers are becoming more common as they provide efficient solutions without the need for heavy infrastructure.
However, the market is not without its challenges. Strict regulatory frameworks and high investment costs for advanced offshore technologies can slow down project timelines. In addition, the global push towards cleaner energy and net zero targets is placing pressure on traditional oilfield operations. Despite this, many companies in the region are adapting by investing in lower emission technologies and more sustainable intervention practices.
Opportunities remain strong, particularly in offshore developments and underexplored reserves. The integration of AI and remote monitoring systems is expected to play a key role in shaping the future of well intervention across the Middle East. In an example cited by the Maximise Market Research report, Aramco expanded its unconventional gas programme by integrating new AI-driven well intervention and drilling services. The initiative accelerates production cycles in complex shale reservoirs, boosting regional service demand. As companies continue to balance efficiency with environmental responsibility, the market is set to evolve into a more technologically advanced and sustainable sector.
Saudi Arabia’s largest drilling contractor, ADES Holding, has temporarily suspended operations on a handful of its offshore rigs in the GCC region due to ongoing tensions.
The company described the suspensions as short-term and stated that it is working closely with clients to monitor the situation while prioritising the safety of personnel and assets.
ADES, which operates 123 rigs across 20 countries, remains confident in its outlook. It forecasts core earnings for 2026 to rise by as much as 44%, supported by its geographic diversification and synergies from the recent Shelf Drilling acquisition.
All its Saudi platforms serve Saudi Aramco as the client.
Borr Drilling also reported suspensions. Three of its jack-up rigs in Qatar and the United Arab Emirates were down-manned as a precautionary measure requested by customers following hostilities in the Arabian Gulf.
A fourth rig, Arabia III in Saudi Arabia, was affected by an incident on a customer-operated platform on 7 March 2026, leading to a safe shutdown and evacuation of personnel with no injuries reported. The rigs remain under contract.
Major national oil companies have implemented significant production adjustments.
Saudi Aramco has shut in or substantially reduced output from key offshore fields, including the supergiant Safaniya (the world’s largest offshore oil field) and Zuluf, contributing to an overall reduction in Saudi oil production.
Production has been rerouted via the Red Sea port of Yanbu amid disruptions in the Strait of Hormuz.
In the UAE, ADNOC has made temporary adjustments to output, with impacts reported on both onshore and offshore facilities.
Qatar has halted liquefied natural gas production, including at the Ras Laffan complex, following strikes that caused extensive damage and fires.
QatarEnergy has warned of potential delays to the North Field expansion project.
The broader regional conflict has led to the closure of key shipping routes and prompted precautionary measures across the GCC energy sector.
While direct attacks on offshore platforms have so far been limited, the situation has disrupted drilling activities and hydrocarbon flows.
Industry players continue to stress that the rig suspensions are expected to be brief once conditions stabilise.
Malaysian offshore vessel owner Keyfield International has had quite a busy period, landing chartering agreements for eight offshore support vessels spread across three regions including Malaysia, the Middle East and Thailand.
The Bursa Malaysia filing confirmed that seven of the eight vessels are accommodation workboats, with the remaining one being an anchor handling tug and supply vessel. The bulk of the work sits closer to home, with five of the accommodation workboat contracts tied to an oil and gas operator in Malaysian waters. The remaining two accommodation workboat deals cover one contract each in the Middle East and Thailand, while the anchor handling tug and supply vessel heads to the Middle East under its own separate agreement.
Contract lengths vary quite a bit across the eight deals. The shortest runs just two months firm with a one month extension option, whereas the longest stretches to a full year with another year available on top. Seven of the eight contracts are set to kick off within the first half of 2026, and the final one is lined up to begin in early 2027.
Altogether, the contracts carry a combined value of around US$41.3mn. Should all extension options be exercised, that figure grows by approximately US$21.4mn.
Keyfield has said it expects the deals to reflect positively on earnings and net assets across the financial years ending December 2026 and 2027.
Energy services company Expro has introduced Solus, a new high debris single shear and seal ball valve system designed to improve flexibility, safety, and efficiency in subsea well access operations across the global oil and gas sector.
The newly developed system replaces the conventional requirement of two separate valves with a single integrated valve. By simplifying the design, Solus reduces operational complexity and risk while supporting the industry’s move toward more efficient and cost effective subsea intervention technologies.
Solus has been tested and validated according to API Std 17G and is fully compliant with NACE MR0175 standards. It is designed as a fail close bi directional ball valve that can shear and seal on wire and coiled tubing, even in environments with significant debris. This capability marks an important development for subsea safety and reliability.
The system can be used in both riser and open water applications and is suitable throughout the entire well lifecycle. This includes exploration, appraisal, completion intervention, and later stage activities such as plug and abandonment and full decommissioning.
Solus has already been deployed in several operations. It has been used for an in riser completions development in the Gulf of America and installed in an open water system for a North Sea plug and abandonment campaign. The valve can provide shear and post shear sealing for both gas and liquid on slickline, braided electrical cable, and coiled tubing. It also maintains bi directional sealing capability even after pump through operations.
The technology has also been incorporated into Expro’s lightweight Plug and Abandonment Open Water Intervention Riser System. By achieving shear and seal functions within a single valve, the design enables Solus to operate effectively in open water environments.
Its modular structure allows isolation and disconnection from the well, while the compact configuration aligns with the industry’s transition toward smaller blowout preventer stacks. This also supports more efficient supply chain management and easier deployment.
The fail close design helps reduce emissions risk and provides an additional independent well safety barrier. Solus also offers strong high debris tolerance, with qualification for solids ingress of up to 15 percent.
Daniel More, Vice President Subsea Well Access, said, “In introducing Solus, Expro now offers the subsea engineering market a distinctive new system that provides the ultimate integrated shear and seal on coiled tubing and wire using just a single valve. Solus, cuts through operational complexity. Simple to use, flexible, with a compact design for smaller BOP stack sizes, this is the latest in fail-safe technology developed by the experts of valve technology and systems integration.
“When there’s no room for error, Solus is designed to provide the assurance of an independent well safety barrier, combined with the surety and confidence that comes from Expro’s integration experience and expertise at the ‘whole system’ level. It’s the latest example of Expro’s engineering excellence and deep understanding of customer needs to move our industry forward,” added Daniel.
Solus is available within Expro’s ELSA landing string assemblies portfolio. It can be deployed in riser as a single valve, with an optional latch mechanism, as part of a subsea test tree, or integrated within the Open Water Intervention Riser System.
Lufkin Industries has secured a multi-year performance contract from Petroleum Development Oman (PDO) to supply rod driven progressive cavity pumping systems across the Marmul-Rahab-Thuleilat-Qaharir fields.
The award covers operations in the Marmul and RTQ areas and reinforces Lufkin’s long-standing role in supporting PDO’s production optimisation strategy.
The company will deliver high-performance rod driven progressive cavity pump (RDPCP) equipment, along with installation, workover and life-of-well support services.
The latest contract builds on a partnership that began in the early 2000s.
Over two decades, Lufkin has expanded its footprint in Oman’s artificial lift market, installing more than 2,000 rod lift systems and maintaining a record of zero non-productive time during new well deployments and replacements, according to company data.
Average pump run life for its PCP systems in the country has exceeded 760 days.
Brent Baumann, chief executive officer of Lufkin Industries, said the agreement reflects the strength of the company’s collaboration with PDO and a shared focus on long-term field performance.
He noted that the firm’s approach extends beyond equipment supply to include service integration, engineering support and localisation initiatives aligned with Oman’s production objectives.
PDO representatives described Lufkin as a high-performing partner capable of delivering in challenging operating conditions while contributing to the development of in-country expertise.
Craig Guillory, vice president of international sales and operations at Lufkin, said the company’s field teams have built trust through technical consistency and close cooperation with PDO.
He added that the Marmul and RTQ scope represents both recognition of past results and a responsibility to maintain high standards in future operations.
A key component of the contract is Lufkin’s continued commitment to In Country Value. The company reports that 87% of its field workforce in Oman are Omani nationals.
It has also invested in local infrastructure to support equipment deployment, maintenance and optimisation services.
Beyond operational delivery, Lufkin has collaborated with PDO on technical research, including published papers and conference presentations addressing advances in remote-controlled RDPCP systems and pump optimisation strategies.
These initiatives have aimed to enhance well performance and extend asset life.
The newly awarded scope includes new well installations, workovers and long-term optimisation support, forming part of PDO’s broader strategy to sustain output from mature fields.
With production targets remaining a priority, the Marmul-RTQ contract is expected to play a significant role in maintaining efficiency and reliability across the operator’s southern assets.
Saipem has strengthened its position in the Middle East after securing a new offshore contract in Saudi Arabia valued at approximately US$500mn.
The award comes in the form of a Contract Release Purchase Order under the company’s existing Long Term Agreement with Saudi Aramco.
The project centres on the Safaniya oil field, recognised as one of the largest offshore oil fields in the world. Under the agreement, Saipem will carry out the Engineering, Procurement, Construction and Installation of a 48 inch trunkline stretching around 65 kilometres offshore and a further 12 kilometres onshore. The development will also include associated subsea facilities designed to support ongoing production and long term field performance.
Offshore activities will be handled by Saipem’s construction vessels that are already operating in the region, ensuring continuity and operational efficiency. Meanwhile, fabrication work will take place at Saipem Taqa Al Rushaid Fabricators Co. Ltd. in Dammam. This local yard continues to play a key role in strengthening the company’s industrial presence within the Kingdom and supporting domestic capability.
The Safaniya field remains central to Saudi Arabia’s energy infrastructure, and this latest contract reflects the Kingdom’s ongoing investment in maintaining and enhancing offshore production capacity. By combining local expertise with established engineering knowledge, Saipem aims to deliver a project that meets strict safety, quality and environmental standards.
This award not only expands Saipem’s project portfolio in Saudi Arabia but also deepens its longstanding relationship with Aramco. Over the years, the company has built a strong track record in delivering complex offshore developments across the region.
With construction set to move forward using both regional assets and technical experience, Saipem continues to demonstrate its ability to execute large scale offshore projects efficiently while supporting the broader development of strategic energy infrastructure in Saudi Arabia.
Mubadala Energy has completed the acquisition of a 15% participating interest in the Nargis Offshore Area concession from Eni, strengthening its footprint in Egypt’s offshore gas sector.
The Nargis concession is an offshore exploration block located in the Mediterranean Sea and is considered a high-potential asset within the East Nile Delta Basin.
The transaction marks a further expansion of Mubadala Energy’s portfolio in Egypt and underlines its strategy of investing in core gas-producing regions.
Following the deal, Eni retains a 30% contractor interest in the concession through its subsidiary, IEOC.
The block is operated by Chevron, which holds a 45% contractor interest, while Tharwa Petroleum Company owns the remaining 10% stake.
The concession operates under a partnership structure with the Egyptian Natural Gas Holding Company (EGAS), with the contractor group and EGAS each holding a 50% interest.
Mansoor Mohammed Al Hamed, managing director and chief executive of Mubadala Energy, said the acquisition reinforces the company’s long-term commitment to Egypt and broadens its exposure to what he described as a high-impact growth opportunity in the strategically significant Eastern Mediterranean region.
“The acquisition of a 15% interest in the Nargis Concession further reinforces our long-term commitment to Egypt, expanding our portfolio with a high-impact growth opportunity alongside world-class partners in the strategically important East Med region,” he said.
The Nargis block lies approximately 50 km offshore in the prolific East Nile Delta Basin and includes the Nargis-1 discovery, which was made in early 2023.
The find has attracted industry attention as part of wider exploration success in the Mediterranean waters offshore Egypt.
The concession is adjacent to the Nour block, also operated by Eni, in which Mubadala Energy acquired a 20% stake in 2018.
In addition to its interests in Nargis and Nour, Mubadala Energy holds a 10% stake in the Shorouk concession, which is home to the producing Zohr gas field, also operated by Eni.
The latest acquisition further consolidates Mubadala Energy’s position in Egypt’s offshore gas landscape, aligning with its broader strategy to expand its international gas portfolio and support long-term energy supply from established basins in the Eastern Mediterranean.
Syria has taken a significant step towards reviving its energy sector after signing a landmark agreement to develop its first offshore oil and gas field.
The memorandum of understanding was signed this week between the Syrian Petroleum Company, US energy major Chevron, and Qatar based Power International Holding.
The signing took place in Damascus and was attended by senior officials, including the US special envoy to Syria, Tom Barrack. According to Syria’s state news agency SANA, the agreement focuses on offshore exploration and the development of oil and gas resources within Syria’s territorial waters. It also aims to encourage wider investment and long term growth across the country’s energy sector.
The deal marks Syria’s first formal move into offshore energy exploration and reflects the government’s efforts to attract foreign partners and rebuild hydrocarbon production after years of decline. Youssef Kabalawi, CEO of the Syrian Petroleum Company, said, “Before the summer, God willing, we will start mobilization and drilling.”
He added that reaching the gas reserves could take up to four years, underlining the long term nature of the project.
Syria’s oil and gas industry has suffered severely due to nearly fifteen years of conflict, which resulted in widespread damage and the loss of hundreds of thousands of lives. Before unrest began in 2011, oil production stood at around 380,000 barrels per day, with exports generating more than $3 billion in 2010. At that time, oil revenues made up roughly a quarter of the government’s budget.
Recent developments may improve the outlook. Syrian government forces regained control of large areas in the north east and oil rich eastern regions last month, potentially opening the door to renewed exploration in some of the country’s most valuable energy zones.
Since coming to power in December 2024 after the removal of Bashar Assad, Syria’s new authorities have prioritised economic recovery. The offshore agreement with Chevron and Power International Holding signals a clear intention to rebuild the energy sector and re establish Syria as a regional player in oil and gas development.
Advanced technologies and solutions from SLB are set to help drive production efficiency and maximise recovery at Oman’s largest oil and gas concession.
Petroleum Development Oman (PDO) has awarded SLB two five-year contracts for the supply of wellheads and artificial lift technologies for operations in Block-6, which contains over 75% of Oman's remaining crude oil reserves.
The contracts include the provision of low-pressure, high-pressure, and thermal wellheads, as well as electric submersible pumps (ESPs) and progressive cavity pumps (PCPs). These solutions are expected to increase recovery rates and extend the productive life of Block-6 assets. The contracts will involve expanding local manufacturing capabilities and introducing made-in-Oman gate valve production within six months of commencement.
The contracts align with PDO’s ICV programme, which is a strong priority for PDO and supports the country’s industrial diversification under Oman Vision 2040. It has played a vital role in expanding local manufacturing capabilities, strengthening local supply chains, upskilling the workforce and creating jobs for Omani nationals.
“These awards reflect our deep commitment to Oman’s energy future and advancing in-country value through local manufacturing and talent development,” said Jesus Lamas, president, Middle East and North Africa, SLB. “By producing more equipment in country and investing in Omani expertise, we are ensuring that PDO’s strategic goals are met with sustainable, locally driven approaches. Our focus is on delivering innovative wellhead and artificial lift solutions that drive production efficiency and maximize recovery. Through our ongoing investment in advanced technologies and tailored services, we support our customers’ production and recovery goals with capabilities designed to meet their evolving operational needs.”
Wellheads will be produced at SLB’s Rusayl production center, and ESPs will be assembled at its Nizwa assembly, repair, and testing center, supporting hundreds of Omani employees. SLB will deploy advanced technologies including the 15k SOLIDrill modular compact wellhead system, ESP surveillance systems, and ESP permanent magnet motors, which reduce power consumption and enhance sustainability.
In its Fourth Quarter 2025 results, SLB comments that industry is prioritising production and recovery.
“As economics remain challenged, production and recovery activity is becoming a strategic priority for our customers in order to unlock incremental barrels at the lowest cost,” said CEO Olivier Le Peuch.” This is translating into higher demand particularly for intervention services, artificial lift, production chemicals and SLB OneSubsea.”
Rex International Holding Limited, through its indirect subsidiary, Masirah Oil Limited (MOL), has announced the signing of a jack-up rig contract to support offshore development drilling in Oman.
According to the statement, MOL’s parent company, Rex Oman Ltd., has contracted the Energy Emerger jack-up drilling rig, operated by Northern Offshore Drilling Operations Ltd. The rig will be used to drill three development wells in the offshore Yumna Field, located in Block 50, Oman.
The Energy Emerger was previously deployed during MOL’s 2024 drilling campaign and will now be utilised for a multi-well programme scheduled to commence in March 2026. The upcoming campaign is intended to support increased production and enhance long-term field performance.
MOL is an indirect 87.5% subsidiary of Jasmine Energy Limited (JEL) and acts as the operator of Block 50, holding a 100% interest in the licence.
Commenting on the development, Mike Hopkinson, General Manager of Masirah Oil Limited, said, “With funding and the rig now in place, we are focused on executing this drilling programme seamlessly to drill new producer wells to increase oil flow rates and extend the lifespan of the Yumna Field in Block 50 Oman.”
The drilling programme forms part of Rex Group’s ongoing efforts to optimise production from its Omani offshore assets through targeted development activity.
Gulf Marine Services (GMS), a provider of jack-up support vessels to the offshore energy industry, has agreed to acquire a new mid-class self-propelled, self-elevating support vessel, marking its first vessel acquisition in a decade.
The vessel is expected to join the company’s fleet of 14 vessels within the next two weeks and is intended to support GMS’ strategy of doubling its 2024 adjusted EBITDA by 2030. The acquisition was partly financed through a US$37.4million 90-day interim loan provided by a Middle Eastern bank that is part of the company’s existing lending syndicate, pending participation by the remaining lenders. The remainder of the purchase price was funded from the company’s cash resources.
GMS said the cost of funding and covenant terms are consistent with those agreed with lenders in December 2024. Following completion, the group’s net leverage will remain below 2.0 times, excluding any EBITDA contribution from the acquired vessel. The company said the vessel has been earmarked for a number of identified commercial opportunities, with further announcements on backlog and revised adjusted EBITDA guidance for 2026 to be made in due course.
“We are delighted to announce this acquisition and would like to thank all those involved. This represents the first vessel acquisition by GMS in a decade and marks an important milestone for the company. The addition of this vessel supports our growth ambitions, while preserving our financial strength and operational flexibility. Subject to market conditions, we look forward to pursuing further acquisitions, and to commencing our shareholder reward programme in the coming months,” said Mansour Al Alami, executive chairman of GMS.
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