:: Schlumberger, Maersk break records with extended reach wells
Major oilfield services provider Schlumberger has helped Maersk Oil Qatar beat the longest and highest ratio well in Al Shaheen Field offshore Qatar.

:: J. Ray forms joint venture in China
Houston-based energy infrastructure engineering and construction company, J. Ray McDermott has formed McDermott Wuchuan, a joint venture with a subsidiary of state-owned China Shipbuilding Industry Corporation (CSIC).

:: MIS acquires 3CMI in Dubai
Sharjah-based oil and gas fabrication Maritime Industrial Services (MIS) has expanded yardspace and expertise as it acquired 3C Metal International (3CMI), a Dubai-based engineering and steel fabrication company that specialises in oilfield equipment and refurbishment, rig-up and modifications of land drilling rigs.

:: Maersk Resilient sets Dubai debut
The jack-up rig Maersk Resilient has started operations for its first assignment offshore Dubai under contract for Dubai Petroleum Establishment, which is set for three years.

:: IPIC announces record gains, approves refinery projects
Abu Dhabi-owned International Petroleum Investment Company (IPIC) has announced record profits during 2007 which reached $1.2 billions (Dh 4.4 billion) posting a growth of 48% over the year 2006 profits.

:: GBCorp-TDJ sets Shari’a-compliant energy investment arm
Islamic investment bank GBCorp has tied up with Taylor-DeJongh (TDJ), one of the world’s leading project finance advisors, to establish its energy subsidiary, Global Energy Financial Services Company (Gefsco).

:: Sabic affiliate gets $6 billion push
Saudi Kayan Petrochemical Company, an affiliate of the Saudi Basic Industries Corporation (Sabic), has sought $6 billion to finance part of the cost of its new complex in Jubail Industrial City, which is set to become the world’s largest integrated petrochemical complex.

:: PetroRabigh to install Honeywell planning solution
Honeywell will install and implement an integrated advanced planning and scheduling solution for Rabigh Refining & Petrochemicals Co.’s Petro Rabigh facility. The site is a refining and petrochemical complex that is a joint venture between Saudi Aramco and Japan ’s Sumitomo Chemical Company.