:: MIS reports 101.6% increase in net profits
Posted: 12 February 2007
Maritime Industrial Services Co Ltd reports a 101.6% increase in net profits for the year ending 2006.

:: Gulf Ship Finance forum to be held in Dubai
Posted: 12 February 2007
Shipping continues to be the main transportation method for the world's raw materials and finished goods and with the growth in China and other emerging markets there seems no end to the bull run of the last few years. Also in the Middle East region shipping is recognised as an industry of importance and many state and private companies are now running large modern fleets of state-of-the-art vessels.

:: Saudi Aramco signs Manifa contract
Posted: 12 February 2007
Saudi Aramco has signed a contract with Belgium dredging contractor Jan De Nul to help develop the 900,000 barrel per day (bpd) Manifa offshore oil field.

:: Sime Engineering Services wins work offshore Qatar
Posted: 12 February 2007
Sime Engineering Services' subsidiary, Sime Darby Engineering, has been awarded a contract by Maersk Oil Qatar AS for engineering work at the Al Shaheen Block 5 Development offshore Qatar . The contract covers the engineering, procurement, construction, transportation & installation and hook-up & commissioning of one process platform, one utility platform and three bridges. The contract is valued at approximately US $600 million.

:: TAQA to acquire power generation interests in Morocco and India
Posted: 12 February 2007
The Abu Dhabi National Energy Company (ADSM: TAQA) announced the purchase of CMS Generation, a subsidiary of the US integrated energy firm CMS Energy (NYSE: CMS).

:: Indago spuds Jebel Hafit well onshore Oman
Posted: 12 February 2007
Indago Petroleum Limited said that it has commenced drilling the Al Jariya-1 exploration well on the Jebel Hafit prospect in Block 31 onshore Oman . At 6 a.m. Tuesday morning, the well (Indago 100%) was drilling ahead in 26" hole at a depth of 103m, having already set 30" casing.

:: Lamprell appoints CFO
Posted: 12 February 2007
UAE-based Lamprell plc, which provides specialist engineering services to the international oil & gas industry, announced the appointment of Scott Doak, 44, as Chief Financial Officer with effect from the end of February 2007.

:: Oman discovers three new oil fields
Posted: 12 February 2007
Petroleum Development Oman (PDO) announces the discovery of three oil fields. One field, named Budour Northeast, is located in the Birba area of south Oman . The other two discoveries are extensions of the Ufuq and Dafiq fields, whose discovery was originally announced last year.

:: Production at Pearl Energy’s Jasmine oil field tops 20,000 barrels per day
Posted: 12 February 2007
Aabar Petroleum Investments Company PJSC (Aabar) announced that its Singapore-based subsidiary, Pearl Energy Limited ( Pearl), has achieved a significant milestone with production at its Jasmine oil field exceeding 20,000 barrels of per day (bpd).

:: $1.3 billion ethylene cracker deal signed
Posted: 12 February 2007
Borouge, the leading provider of innovative plastics solutions, and a consortium of the Engineering division of The Linde Group and CCC formally signed a contract worth approximately US$1.3 billion for the construction of a new Ethylene Cracker, which is considered the largest grass roots gas cracker in the world with a capacity of 1.5 million tonnes per annum.

:: Amiantit group wins major contracts in Egypt
Posted: 12 February 2007
Continuing the long run of successful contract wins by its subsidiary companies and joint venture partnerships based outside the Kingdom, the Amiantit Group has announced major orders for its manufacturing facilities in Egypt .