Author: Rigs & Barge World
There are around 3 trillion cubic feet (tcf) of estimated additional gas beneath Energean’s current Egyptian platforms, Reuters reported, citing Mathios Rigas, Energean’s CEO. Energean, through Energean Egypt, maintains and operates a full-cycle production, development, and exploration portfolio. It operates and owns 100% of each of Abu Qir concession, North East Almreya and North Idku concessions, in addition to 50 % of East Bir El Nus on-shore concession and a 30% interest in North East Hap’y off-shore concession. Regarding its revenues, Energean achieved $804 million in H1 2025, compared to $867 million in H1 2024, with adjusted Earnings Before Interest,…
The Egyptian General Petroleum Corporation (EGPC) has signed three new agreements with international companies to explore for oil and gas in the Western Desert, Gulf of Suez, and North Sinai regions. The first agreement was signed with Berenco Egypt to drill three wells in the North Sinai offshore area with investments of $46 million and a $1 million signature bonus. The second agreement was signed with UAE Dragon Oil to drill three wells at East El-Hamd area in the Gulf of Suez, with $40.5 million investments and a $4.5 million signature bonus. While the third one was signed with US…
UAE Dragon Oil has signed a new agreement with the Egyptian General Petroleum Corporation (EGPC) to drill at least two new oil and gas wells within East El-Hamd area in the Gulf of Suez region with investments of around $30 million, according to a company press release. Abdulkarim Ahmed Al Mazmi, Acting CEO of Dragon Oil noted that this step comes as part of Dragon Oil’s broader strategy to expand in regional markets and to strengthen its position as a leading player in the oil and gas sector particularly Egypt. Dragon Oil was established in 1971 and is headquartered in…
Iraq is stepping up its regional energy strategy through new agreements and projects aimed at bolstering oil and gas exports and expanding domestic power generation. The State Oil Marketing Organization (SOMO) unveiled talks to build a pipeline linking Basra to Oman, aiming to broaden export channels, boost capacity, and reinforce Iraq’s output growth. SOMO highlighted Muscat’s strategic role in marketing Iraq’s crude through signing memoranda of understanding (MoUs). Ali Nizar Al-Shatri, SOMO’s general manager, added that a commercial integration MoU has been signed between SOMO and Oman’s OQ Trading, formally known as Oman Oil Company. Meanwhile, Iraq’s Ministry of Electricity…
If you’ve used a recent large language model (LLM) like ChatGPT-5, you might have noticed some frustrating issues. Beyond their well-known flaws, these models are taking an unexpectedly long time to answer even simple questions. What’s behind this delay?The simple answer is that they’ve become overly cautious to minimize errors and avoid embarrassing mistakes. I experienced this first-hand when I gave an LLM a straightforward fill-in-the-blanks task:” _ _, the British Prime Minister, _ the cabinet yesterday.”The initial response was: “Liz Truss, the British Prime Minister, appointed the cabinet yesterday.”When I pointed out that Liz Truss is no longer the…
Halliburton, a leading service provider to the oil and gas sector, has introduced the Turing® control system, an upgrade to its SmartWell® technology. This new system helps save time as it manages oil and gas flow more efficiently, allowing companies to get more from each reservoir while drilling fewer wells. The new system uses built-in sensors to quickly and accurately adjust well performance. It is designed to reduce setup time, lower risks, and help avoid delays—making operations smoother and more cost-effective. When integrated with the Clariti® digital reservoir management suite, the Turing electro-hydraulic control system delivers enhanced insights and real-time…
On the sidelines of the Gastech 2025 Exhibition and Conference in Milan, Karim Badawi, the Minister of Petroleum and Mineral Resources, held meetings with the top executives of a number of international oil and Gas companies to discuss investment opportunities in Egypt. Badawi discussed with Freeman Shaheen, President of Chevron Global Gas, means of enhancing cooperation in natural gas exploration and production in the Mediterranean Sea, as well as reducing carbon emissions. Badawi also reviewed ongoing collaborative projects with Chevron in upstream activities in the Mediterranean, particularly in the Nargis offshore and North El-Dabaa areas, in addition to the Lotus…
Media release: North West Shelf extension approval will ensure long-term gas supply for WA | Australian Energy Producers Skip to content Source link
At the Gastech Exhibition and Conference in Milan, Baker Hughes unveiled a plan to allocate around €300 million over the next five years to upgrading and expanding its facilities and plants in Italy. The initiative is intended to address the growing global demand for the company’s technology solutions that promote safe, reliable, and sustainable energy production. This commitment represents one of Baker Hughes’ most significant recent investments in Italy. It is designed to reinforce production infrastructure, boost overall manufacturing capacity, and speed up the development of advanced technologies, including turbine compressors for use in data centers, liquified natural gas (LNG),…
The Egyptian Natural Gas Holding Company (EGAS) awarded nine new natural gas exploration blocks and finalized six new agreements with total investments of approximately $479 million during fiscal year (FY) 2024/25, according to the company’s chairman and Managing Director, Mahmoud Abdelhamid. He revealed these figures during the EGAS general assembly meeting, chaired by Karim Badawi, the Minister of Petroleum and Mineral Resources. The chairman pointed out that several seismic survey programs have been completed in various exploration and prospecting areas by the company. Badawi emphasized the importance of these surveys, which serve as an incentive for companies interested in working in…