Author: Rigs & Barge World
President Abdel Fattah El-Sisi held a meeting with Terje Pilskog, Norway’s Scatec CEO, and Lei Zhang, the Chairman of the Chinese Envision Energy, to discuss expanding renewable energy investments and green hydrogen collaboration, according to a presidential statement. The President highlighted that strengthening partnerships with leading international companies is essential to meet the growing domestic and global demand for renewable energy generation. This strategy aims to secure and enhance energy supply chains while transitioning toward a sustainable green economy. Discussions focused on Egypt’s strategic goal to become a regional hub for clean energy by attracting foreign direct investment (FDI) into…
Adnoc is moving ahead with its unconventional program, and this year will be pivotal for its ambitions. Until now, unconventional development has been firmly in a de-risking phase, with its Adnoc Drilling subsidiary more than halfway through a 144-well first phase campaign. Adnoc is now preparing to enter the next phase and discussions are underway with concession partners over taking FID in the coming months. “The Adnoc team is working on the FIDs in terms of their submissions as we speak… and the negotiations with the concession partners are going on as we speak. So the FIDs are well on…
Ibrahim Massoud, Chairman of the Western Desert Operating Petroleum Company (WEPCO), operator of El Hamra Petroleum Port, announced that the port is targeting a trading volume of approximately 88 million barrels per year (mmbbl/y) for the fiscal year (FY) 2026/27. This throughput, facilitated by the port’s offshore facilities and pipeline network, will average 240,000 barrels per day (bbl/d), marking a significant increase in trading activity. These targets were unveiled during WEPCO’s general assembly meeting to approve the FY 2026/27 investment plan. The session also reviewed amendments to the FY 2025/26 budget to account for extensive expansion works aimed at boosting…
As Cairo steps up efforts to attract high-quality foreign direct investment (FDI), Mohamed Farid, Egypt’s Minister of Investment and Foreign Trade, met with Terje Pilskog, CEO of Norway’s Scatec, to explore expanding cooperation in renewable energy and green investment, according to a press release by the ministry. Scatec, a renewable energy company, has been active in Egypt’s clean energy sector through a pipeline of solar and wind power investments. The company’s portfolio is anchored by its contribution to the Benban Solar Park, one of the world’s largest photovoltaic (PV) installations, and the recently launched Obelisk project in Nagaa Hammadi. Farid…
Egypt’s hopes of a rebound in gas production rest on the shoulders of industry majors that have stepped up their efforts to add output and reserves through extensive drilling campaigns over the past year. Shell and BP are leading the charge in early 2026, before ExxonMobil kicks off its campaign at the giant Cairo and Masry blocks later in the year. Egyptian Petroleum Minister Karim Badawi has said that 101 exploration wells are to be drilled in 2026 (MEES, 2 January). (CONTINUED – 764 WORDS) Read this article for free Gain access to over 60-years of energy analysis and news…
Italy’s engineering and construction group Saipem reported growing financial results in 2025, with full-year revenue rising 6.5% year-on-year (YoY) to €15.497 billion. Adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) increased by 29.1% YoY to €1.716 billion. The company also secured new contracts worth €12.9 billion during the period. Free cash flow (FCF), after the repayment of lease liabilities, marked a 56.8% YoY increase, according to Saipem’s financial results. Revenue grew 2.2% to €4.515 billion in the fourth quarter of (Q4) of 2025 compared to the previous quarter, while adjusted EBITDA climbed 21.5% to €515 million. New contracts awarded…
Middle East hydrocarbon giants are investing billions in huge gas expansion projects that will yield substantial volumes of liquids byproducts. As NGLs are exempt from Opec+ production quotas, these non-crude liquids are a strategically and economically valuable revenue stream that should lift the region’s oil output floor. Three countries will account for the majority of this growth – Saudi Arabia, the UAE and Qatar, the latter of which quit Opec in 2019. Between them, the three countries plan to add more than 1.5mn b/d of NGLs and condensate by 2030. Although there is a strong likelihood that some project completions…
Karim Badawi, the Minister of Petroleum and Mineral Resources, held talks with senior executives from UK-based Capricorn Energy to review the company’s operations in the Western Desert and its plans to raise oil and gas production. The delegation included Capricorn Energy CEO Randy Neely, Chief Operating Officer, Geoff Probert, and the Managing Director of Capricorn Energy PLC Egypt, Eleanor Rowley. Discussions focused on the company’s concession areas and strategies to increase output, according to a statement by the Ministry of Petroleum and Mineral Resources (MoPMR). Badawi praised the company’s commitment to its operations in Egypt. He added that the ministry…
Petrobel, the joint venture (JV) between Eni and the Egyptian General Petroleum Corporation (EGPC), has started production from the Belayim Offshore 133 well in the Gulf of Suez at an initial rate of 1,500 barrels of crude oil per day (bbl/d), with further potential to optimize output in the near term, according to the Ministry of Petroleum and Mineral Resources (MoPMR). This marked the first drilling activity under the Italian company’s new investment program in the Gulf of Suez, Sinai, and Delta regions, pursuant to the agreement signed with EGPC in mid-November to inject new investments into these areas. The…
Renewed competition between Algeria and Morocco over gas pipeline projects to Europe marks a new phase in their decades-long regional rivalr… Source link