Author: Rigs & Barge World

El-Gamil Base in Port Said hosted a technical workshop on September 23rd for field engineers from companies operating in Egypt’s Mediterranean offshore gas and oil sector. The event provided a platform for these field engineers to share experiences on best practices and technological innovations with the aim to enhance operational efficiency and safety in offshore exploration and production. This workshop is the second in a series of three technical sessions organized as part of the Egypt Oil & Gas Group’s 11th Convention, scheduled for November. The workshops are held in collaboration with the Egyptian General Petroleum Corporation (EGPC). They are…

Egypt’s revenues from the Sukari Gold mine during 2024 amounted to  $295.2 million. This is divided into $15.42 million in taxes, $28.78 million in royalties, and $251 million in dividends, according to AngloGold Ashanti’s disclosure to the United States Securities and Exchange Commission. AngloGold Ashanti, the operator of the Sukari Gold mine, made another financial boon in 2025. In the second quarter of 2025 (Q2 2025), the company reported a 151% year-on-year (YoY) surge in headline earnings, reaching $639 Mn, driven by a hike in the average gold price and a 21% increase in gold production The company’s robust Q2 2025…

The Egyptian Chemical Industries Company (KIMA) is selling all of its 2.7 % stake in Abu Qir Fertilizers and Chemical Industries Company to the Chemical Industries Holding Company (CIHC), according to a disclosure by KIMA to the local bourse. The move comes to enhance financial liquidity and settle operational expenses, especially the cost of the nitric acid and ammonium nitrate project, according to the disclosure. In October 2023, KIMA signed a turnkey agreement with a consortium comprising Italy’s Tecnimont and Egypt’s Orascom Construction to build a new nitric acid and ammonium nitrate complex in Aswan. To fund part of the…

The diplomatic manoeuvring is over. As widely anticipated, a new layer of United Nations sanctions has been “snapped back” onto Iran, adding to the already stringent unilateral sanctions imposed by the United States. Though Russia and China attempted an eleventh-hour block at the UN Security Council, they failed to rally the necessary support, allowing the measures to come into force over the weekend.On Monday, the European Council officially confirmed its own sweeping sanctions against the Islamic Republic. These will have significant and far-reaching consequences, hitting an Iranian state already reeling from a recent 12-day confrontation with Israel in June.The “Snapback”…

OPEC+ is expected to approve a production increase of at least 137,000 barrels per day (b/d) for November at its upcoming virtual meeting on October 5, according to three sources familiar with the discussions, Reuters reported. This increase is similar in value to the hike in output decided for October’s production but lower than the September and August’s increases of  555,000 bbl/d. The decision to continue easing cuts comes amid pressure to stabilize global oil prices and allow the group to regain market share. OPEC+ provides about half of the world’s oil and includes the Organization of the Petroleum Exporting…

The Egyptian General Petroleum Corporation (EGPC) agreed to increase crude oil supplies to the Alexandria Petroleum Company (APC) refinery as well as accelerate the procedures needed to expand the production of petroleum solvents, which are used in a wide range of industries. The agreement came during a field visit led by Salah Abdel Kerim, EGPC chairman, who highlighted the importance of preparing a feasibility study for the expansion of solvent production. He also affirmed the full commitment to developing the refining facilities and adding new production units to maximize the economic returns of this activity. During the visit, Abdel Kerim…

TotalEnergies, a major energy company, has entered a new phase of its partnership with industrial artificial intelligence (AI) specialist Cognite, signing a three-year program to deploy Cognite’s data and AI platform across all its operated Exploration and Production (E&P) assets worldwide. The initiative aims to integrate the technology across the value chain, from drilling through to production, with the goal of improving efficiency, reliability, and sustainability. The collaboration builds on years of work between the two companies, focused on making vast volumes of industrial data AI-ready. By streamlining access to this information, TotalEnergies expects to accelerate the adoption of new…

Amreya Petroleum Refining Company (APRC) is implementing over EGP 2 billion worth of projects to increase the production and storage capacity of petroleum products, according to Chairman Mohamed Sobhy. Sobhy gave these statements during a field visit of Karim Badawi, Minister of Petroleum and Mineral Resources to the company’s headquarters in Alexandria, Badawi reviewed APRC’s development and modernisation projects, which aim to boost its production complexes to enhance the output of gasoline, butane, and lubricants, alongside other products used in various industries. He praised the workforce’s efforts and called for highlighting successful cases in the sector as examples for others…

The Alexandria Mineral Oils Company (AMOC) output of oils and waxes reached 172,000 tons in the fiscal year (FY) 2024/25, representing 108% of the target for the year. This was achieved while maintaining a production mix of the most profitable fuels like diesel, naphtha, and butane gas, with an overall production of 442,000 tons, Maged ElKordy, Chairman of the company, stated. This was revealed during the ordinary and extraordinary general assembly meetings attended by Karim Badawi, Minister of Petroleum and Mineral Resources, to approve the company’s performance in FY 2024/25 ElKordy noted that mazut production reached 666,000 tons in 2024/25.…

The Gulf of Suez Petroleum Company (GUPCO), in collaboration with the UAE’s Dragon Oil, organized a workshop on the optimal use of artificial intelligence (AI) applications in developing and enhancing production from brownfields. The workshop aimed to maximize the benefits of AI technologies to increase production efficiency and achieve the highest possible productivity from mature fields. The workshop included a presentation by the American company Rosenxt on a current study being conducted by GUPCO to use AI applications in operational processes, with the aim of improving production efficiency, particularly in the Morgan and El Badri fields. The presentation was based…