Author: Rigs & Barge World
Agiba Petroleum Company, a joint venture between the Egyptian General Petroleum Corporation (EGPC) and IEOC, part of Italian Eni, was able to add an estimated 4,100 barrels of oil equivalent per day (boe/d) to its production capacity. The production boost is a direct result of it bringing the “Arcadia-28” well online on July 19, 2025 The well, targeting the underground rock layer formation “Masajid Carbonate”, was commissioned after a precise acid stimulation operation— a well treatment technique similar to those used in the “Iris” well, Agiba’s recent oil and gas discovery located in Egypt’s Western Desert. The production increase reflects the…
Israel was due to stop burning coal for power by the end of this year. The remaining four 360MW units at Hadera, 50km north of Tel Aviv, were due to be taken offline by the start of 2026, while six units (two 575MW at Orot Rabin and four 550-575MW at Rothenberg at Ashkelon) are in the process of being converted to gas (MEES, 2 May). The 12-day conflict with Iran that began on 13 June underscored Israel’s over-dependence on its own natural gas supplies for power generation, prompting a policy U-turn by the authorities. With the key 1.1bn cfd Leviathan…
Qatar has warned it may halt gas exports to the European Union (EU) following EU’s announcement for issuing new law of bloc’s due diligence directive (CSDDD) law on forced labour and environmental damage according to a letter sent by Qatar to the Belgian government and reported by Reuters. In the letter, Qatari Energy Minister Saad al-Kaabi stated that If changes are not made to the CSDDD, which requires larger companies operating in the EU to find and fix human rights and environmental issues in their supply chains, they will find other stable markets for their products. Kaabi objected particularly on the…
Eni’s production went down by 2.6% in Q2 2025 compared to Q2 2024; however, it increased by 1.3% sequentially, confirming the positive outlook for the year. According to the company’s results, it achieved net profit of $1.13 billion with a group tax rate of 46.6%. The performance is supported by several internal improvement initiatives, including cost savings, increased volumes, and a more favorable product or service mix. Eni also predicted increase in the cash flow from operations (CFFO) before working capital adjustments to approximately €11.5 billion at the updated scenario. “Eni’s consistent strategic focus has produced excellent results in Q2 2025.…
Media release: Australian oil & gas industry delivers record $22 billion in taxes and royalties to government revenues in 2024-25 | Australian Energy Producers Skip to content Source link
Production from several IOC-operated fields in Iraqi Kurdistan remains shut-in following last week’s drone strikes, which forced as much as 200,000 b/d offline (MEES, 18 July). An IOC industry source tells MEES that initial assessments do not indicate severe damage to infrastructure, except for Hunt Oil’s Ain Sifni block which was attacked twice on 16 June. Hunt Oil has yet to confirm the incidents. The firms “are waiting for a few days of calm and to repair minor damages and then restart production,” the source adds. The companies are also assessing whether they can bring back expatriate personnel. “The IOCs…
The Mineral Resources and Mining Industries Authority (MRMIA) and China’s Hunan Institute of Geology have agreed on a joint cooperation protocol in the mining sector. The protocol involves exchange of expertise in geological, aerial surveys and mineral exploration; satellite imagery analysis and interpretation; value-added studies for mineral resources; and specialized training programs for Egyptian geologists and technical staff. This was announced during a meeting that brought together Yasser Ramdan, MRMIA Chairman, and a delegation from the Institute to discuss cooperation opportunities in mining and geological exploration. Ramadan emphasized the deep ties between Egypt and China and provided an overview of…
Qatar’s second quarter deficit widened to $210mn from $150mn in Q1, latest finance ministry data shows. This marks the second consecutive quarterly deficit, following a return to the red in Q1—the first since 2021 (MEES, 13 June). Doha had projected a deficit of $3.6bn in the 2025 budget, based on a conservative $60/B oil price assumption. But oil and gas revenues took a hit during the second quarter, falling to a four-year low of $9.3bn. (CONTINUED – 190 WORDS) Read this article for free Gain access to over 60-years of energy analysis and news Delve into the details backed by…
Minister of Petroleum and Mineral Resources Karim Badawi met with George Papanastasiou, Cypriot Minister of Energy, Commerce, and Industry, in Nicosia. Senior representatives from Eni and TotalEnergies also attended the meeting. The discussion focused on the progress of Cyprus’s Cronos natural gas field, which is scheduled to be linked to Egypt’s energy infrastructure by 2027. Within the framework of the Steering Committee overseeing the development of Cyprus’s Cronos natural gas field, Egypt and Cyprus reiterated their commitment to the project’s agreed timelines. The committee further reviewed the status of the technical and implementation agreements, now in their final stages of…
Sudan has announced plans to rehabilitate its top refinery, the 100,000 b/d capacity al Jaili facility, along with the country’s power grid following substantial infrastructure damage caused by the ongoing brutal civil war. The energy ministry says repair plans will cover several transformer, distribution, and thermal stations across the capital Khartoum, which the army recently recaptured from rival militias (MEES, 18 April). (CONTINUED – 152 WORDS) Read this article for free Gain access to over 60-years of energy analysis and news Delve into the details backed by data Exclusive information from high-level officials Assess future risks and opportunities Source link