Four top firms in race for $5bln Qatar offshore megaproject
The NFPS project is a major initiative by QatarEnergy LNG focused on maintaining and enhancing production from the North Field, the world's largest non-associated natural gas field.
This project includes offshore compression complexes and aims to sustain the production of natural gas from the North Field, said the report.
Italian multinational oilfield services company Saipem is a key contractor for the NFPS project, with contracts for engineering design, fabrication, and installation of offshore facilities.
Qatar is spending heavily on expanding the North Field while also carrying out the multi-phase offshore sustainability project.
With this, QatarEnergy LNG plans to further expand the North Field with the North Field West project, aiming to increase LNG production to 142 million tonne per annum by 2030.
Copyright 2024 Al Hilal Publishing and Marketing Group Provided by SyndiGate Media Inc. (Syndigate.info).
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Gulf Business
an hour ago
- Gulf Business
IHC rebrands eFunder as Zelo following acquisition
Image: IHC/ X International Holding Company ( The platform has also been rebranded as Zelo, signalling a new chapter for the company. Fully licensed and regulated by ADGM's Financial Services Regulatory Authority (FSRA), Zelo has been operating since August 2020, delivering receivables-based funding to address the region's SME working capital gap. It provides fast, digital-first access to liquidity by converting approved invoices into working capital within 24 to 48 hours. Following the acquisition by IHC, Zelo now enters a new chapter as part of the The platform addresses one of the region's most pressing challenges: a nearly$250bn SME credit gap across the Middle East and North Africa. While SMEs account for over 95 per cent of the UAE's registered businesses and generate more than half of national GDP, many face delays of 60 to 120 days in receiving payment for approved invoices, restricting growth and operational agility. Zelo bridges this gap by offering a seamless, technology-driven platform for invoice financing across priority industries, including construction, logistics, healthcare, industrial services, and oil and gas. IHC aims to build smart, scalable solutions and value networks that deliver impact Syed Basar Shueb, CEO of IHC, said: 'SMEs are the backbone of a diversified and future-ready economy. Through our strategic acquisition of Zelo, we are proud to support a platform that solves one of the most fundamental barriers facing SMEs, access to timely working capital. 'This rebrand signals a confident new chapter, one that is fully aligned with IHC's long-term vision of building smart, scalable solutions and dynamic value networks that deliver real and lasting economic impact.' Dhanush Arjun, CEO of Zelo, said: 'Zelo exists to eliminate the wait. The wait for payments, the wait for growth, the wait for opportunity. Our rebrand signals not just a new name, but a renewed commitment to SMEs in the UAE who deserve faster, smarter access to capital. With IHC's strategic backing, we're accelerating that future.' Zelo has deployed more than $200m in funding Zelo's platform is purpose-built for speed and simplicity, offering a fully digital onboarding experience, automated funding decisions, and near-instant access to capital, eliminating cash flow delays and accelerating reinvestment into growth. The platform also scales financing limits in line with business performance, creating a responsive and frictionless funding experience. Zelo's operations continue to be led by the co-founders of eFunder – Dhanush Arjun (CEO) and Deepak Sekar (COO), supported by a seasoned group of professionals with deep expertise in fintech, SME lending, and digital infrastructure. To date, the platform has facilitated over 9,000 transactions and deployed more than $200m in funding, a testament to its impact and scalability within the region's SME ecosystem.
Zawya
an hour ago
- Zawya
Abyat joins the NBK Rewards Program
AlNasrallah: We continuously strive to widen our network of partners for the NBK Rewards Program. Excellence in providing the best customer banking experience is part and parcel of NBK's culture. A 5% NBK Rewards points upon making a KD 100 purchase from Abyat for NBK customers. Reflecting its commitment to enriching the banking experience of its customers by providing exclusive offers and special rewards, National Bank of Kuwait announced the joining of Abyat, a leading company specialized in retail furnishing and finishing materials, to the NBK Rewards Loyalty Program. This exciting new partnership brings NBK Credit and Prepaid Cardholders an exclusive opportunity to earn 5% or redeem their NBK Rewards Points on their purchases at Abyat when spending KD 100. Starting today, NBK customers can enjoy benefits when shopping for furniture at Abyat. Whether renovating or simply refreshing a space, customers now have more reason to shop at Abyat with their NBK Credit or Prepaid Cards. The earned NBK Rewards points can be fully or partially redeemed for purchases at all participating outlets immediately through POS terminals. On this occasion, Homoud AlNasrallah SVP – Head of Merchant Business and Customer Loyalty Management commented: 'We always strive to strengthen our ties with leading companies across different fields and widen our network of partners within the NBK Rewards Program, as we hope to elevate and enrich our customers' banking experience and enhance the rewards and benefits when they use their NBK Credit and Prepaid Cardholders at their favorite outlets. Therefore, We're thrilled to welcome Abyat to the NBK Rewards Program. This partnership is a reflection of our commitment to giving NBK customers more value from the brands they already love - and Abyat is a household name when it comes to home solutions in Kuwait.' AlNasrallah also highlighted that to benefit from this offer, customers simply need to spend KD 100 or more using their NBK Credit or Prepaid cards in-store at Abyat. The 5% NBK Rewards points will be automatically credited to the rewards center, making home shopping even more rewarding. The NBK Rewards Program is Kuwait's largest loyalty program, offering unmatched savings and benefits across more than 800 partner outlets from retail and dining to entertainment and health and wellness centers.
Zawya
an hour ago
- Zawya
NBO Muzn Islamic Banking facilitates easier travel plans with Travel Finance
Muscat: NBO Muzn Islamic Banking has made travel easier and more convenient this summer with its Shari'ah-compliant Travel Finance solution, designed for customers planning to travel to any destination worldwide. Available to both existing and new customers, the Muzn Islamic Banking's Travel Finance provides comprehensive financing for all travel-related expenses including flights, accommodation, meals, airport transfers, excursions and sightseeing. Customers can select their preferred travel agency, request a quotation, and submit it to their nearest Muzn Islamic Banking branch to initiate the financing process. Commenting on this offer, Salima Obaid Al Marzoqi, Assistant General Manager and Chief Islamic Banking Officer at NBO, said, "As a trusted Islamic banking partner, we recognise the importance of creating financial solutions that align with our customers' evolving lifestyles. This offering is part of our effort to make travel easier and more accessible this summer, while reinforcing our commitment to flexible, value-driven options that meet our customers' needs and expectations.' The solution also offers easy payment options and competitive profit rates starting from 5.25 percent, giving customers the freedom to plan their holidays without financial strain. For more details, visit or call 24770001.
