Author: Rigs & Barge World

Capacity at Israel’s second largest gas field, the 13.7tcf Chevron-operated Tamar, has reached a record high of 1.35bn cfd. Junior partner Tamar Petroleum (16.75%) announced the 250mn cfd addition on 29 May. “The increase follows the completion of upgrades to two of the three compressors at the Ashdod receiving terminal, together with additional supporting and complementary works,” Tamar Petroleum said. Once the third Ashdod compressor is completed towards the end of the year, capacity will increase further to 1.6bn cfd (MEES, 8 May). (CONTINUED – 809 WORDS) Read this article for free Gain access to over 60-years of energy analysis…

Eni and PETRONAS have officially established Searah, a new 50/50 independent joint venture (JV) combining selected upstream assets in Indonesia and Malaysia, following the completion of all regulatory approvals and closing conditions. The JV brings together 19 producing and development assets, including 14 in Indonesia and five in Malaysia, with an initial production base exceeding 300,000 barrels of oil equivalent per day (boe/d). Searah aims to increase sustainable production to more than 500,000 boe/d within the next three years. To support its growth strategy, Searah has secured a $6 billion revolving credit facility and plans to invest more than $20…

The Iraqi government has asked oil field operators in Kurdistan to resume production to facilitate its goal of increasing pipeline flows to Turkey from 220,000 b/d to 770,000 b/d by mid-August. The closure of the Strait of Hormuz since early March has caused vital oil export revenues to collapse, and with federal state marketer Somo now in charge of marketing Kurdish barrels, oil from the region represents an important potential source of new revenue. Prime Minister Ali al-Zaidi met with IOC executives and officials from the semi-autonomous Kurdistan Regional Government (KRG) in Baghdad on 3 June, a day after the…

Europe’s largest airlines have urged the European Union (EU) not to expand its Emissions Trading System (ETS) to include international flights, warning in a letter seen by Reuters that such a move would drive up ticket prices. The European Commission is weighing an expansion of the ETS to cover emissions from flights departing the EU, as part of a review due next month. Currently, the scheme applies only to flights within Europe. The system obliges airlines, factories, power plants, and other emitters to purchase permits for greenhouse gases, while limiting the overall supply to ensure emissions fall over time. In…

Karim Badawi, Minister of Petroleum and Mineral Resources, met with Michael Damianos, Cyprus’s Minister of Energy, Commerce and Industry, to review progress on plans to connect Cypriot gas fields to Egypt on the sidelines of the 10th Ministerial Meeting of the East Mediterranean Gas Forum (EMGF2026) in Washington. Egyptian-Cypriot partnership represents a successful model of regional cooperation based on mutual interests as well as the optimal utilization of existing infrastructure, noted Badawi. The meeting follows a series of milestones aimed at advancing Cypriot gas exports through Egypt. In April, the Egyptian Natural Gas Holding Company (EGAS) signed a 15-year Gas…

Opec crude oil production fell by another 320,000 b/d in May, as Middle East producers adjusted to the third month of the Hormuz crisis. After production slumped by 8.95mn b/d over March and April, the rate of decline slowed markedly last month to 320,000 b/d, with output of 16.74mn b/d at a historic low. The first wave of production losses in the Middle East has now drawn to a close, and there are some signs of modest recovery, but output may still drop further this month as Iran’s oil sector begins to react to the pressure of the US blockade.…

Chinese refiners have delayed two major refining projects slated for 2026 deployment, freezing a combined capacity of 500,000 barrels per day (bbl/d) following Middle Eastern crude supply disruptions at the Strait of Hormuz driven by the conflict in Iran, according to Reuters. The operational pushbacks are expected to cap near-term crude demand from the world’s largest oil importer and temper global oil prices, as Chinese downstream operators navigate high feedstock costs and decelerating domestic fuel consumption. Huajin Aramco Petrochemical Company (HAPCO) postponed the startup of its new 300,000 bbl/d refining and petrochemical complex in Panjin to September or early October,…

The Egyptian General Petroleum Corporation (EGPC) organized an environmental workshop for petroleum companies operating in the North and East Gulf of Suez and Red Sea regions as part of the Ministry of Petroleum and Mineral Resources (MoPMR )’s strategy to strengthen environmental performance across the sector. The workshop, led by EGPC CEO Salah Abdel Kerim, focused on advancing environmental sustainability through practical solutions, knowledge sharing, and the replication of successful practical solutions. The first day of the workshop, hosted at the General Petroleum Corporation (GPC)’s Ras Gharib fields, reviewed key environmental challenges facing companies in the region as well as…

As Adnoc works to strengthen its Hormuz-bypass capabilities, the Abu Dhabi state firm is considering linking its Ruwais refining complex with the Indian Ocean port of Fujairah. It currently has a 1.8mn b/d crude oil pipeline connecting onshore fields with Fujairah, and is expanding this system to 3.3mn b/d next year to enable access for offshore crudes and bolster export resilience to future disruption (MEES, 22 May). But while Saudi Arabia can export high-value products from its Red Sea refineries, the closure of the Strait of Hormuz has left Adnoc’s refineries stranded from export markets. Speaking at the S&P Global…

Abu Dhabi National Oil Company (ADNOC) has floated a second crude oil tender within a week, set to close on June 11, trade sources told Reuters. The company is offering Upper Zakum, Umm Lulu, and Das crude cargoes for loading between June and August 2026, with bids invited for up to 2 million barrels (mmbbl), traders said. The three grades, Upper Zakum; Umm Lulu, and Das, are pumped from Gulf fields and shipped via the Strait of Hormuz. ADNOC offered the cargoes on a free‑on‑board basis from storage at Fujairah, Zirku, and Das Island, and also via ship‑to‑ship transfers in…