Author: Rigs & Barge World

The board of directors of TAQA Arabia, Egypt’s leading private sector energy and utility provider, held a meeting recently via video conference to approve the company’s management presentation for the second quarter investment plans, according to the company’s disclosure to the Egyptian stock exchange During the meeting, the board reviewed the latest developments of the Zafarana solar energy project, implemented under a memorandum of understanding signed with the Ministry of Electricity in 2024. The project is Egypt’s first and largest solar-powered desalination plant. The board also reviewed the potential of investing in Liquefied Natural Gas (LNG) projects in Tanzania. TAQA…

Capricorn Energy Egypt, a wholly owned subsidiary of Capricorn Energy PLC, has completed its 2024-2205 Social Investment Project in Matruh Governorate targeting villages of El-Negila and Sidi Barrani, including those of  Abu Milad, Abu Ghalila, and Abu Omeira. The project was executed in cooperation with Middle East Oil Tankage snd Pipelines (MIDTAP), Tharwa Petroleum, and Orman Association.It involved the construction of 25 home roofs and 80 rainwater harvesting wells to enhance access to clean water. The project also included the launch of 74 income-generating projects such as pigeon towers and goat farming areas as well as the deployment of eight…

Assiut Oil Refining Company (ASORC)‏ processed over 3.1 million tons of crude oil to maximize its production of high-value petroleum products during fiscal year (FY) 2024/25, ASORC Chairman Mahmoud Nagy stated. This came during ASORC’s general assembly attended by Karim Badawi, Minister of Petroleum and Mineral Resources, and other ministers. Nagy explained that diesel production increased to 760,000 tons annually, a rise of 130,000 tons, enough to meet half the needs of the Central and Southern Upper Egypt region. Meanwhile, the company’s gasoline production meets 80% of the local market’s needs in Upper Egypt. The company further supplies a significant…

Egypt and Sudan explored means for cooperation in the mining sector and value-added industries during a meeting between Karim Badawi, Egyptian Minister of Petroleum and Mineral Resources; Nour El-Daim Taha, the Sudanese Minister of Minerals; and Omar El-Farouq, the Sudanese Deputy Ambassador to Cairo, and representatives from leading Sudanese mining companies and institutions. Badawi emphasized the significant opportunities for partnership between Egypt and Sudan, highlighting the prospects of cooperation to utilize the rich mining resources in Sudan to support value-added industries and export to international markets. The minister added that Egypt is considering building specialized mining schools, and that is…

Wael Lotfy Hamed Mostafa was appointed as Head of Central Projects Administration at the Ministry of Petroleum and Mineral Resources (MoPMR). The appointment of Mostafa aligns with the petroleum sector’s keenness to benefit from distinguished competencies and expertise in managing and executing projects both domestically and abroad, achieving added value, and expediting the pace of work, noted a MoPMR statement. Mostafa began his professional career in the sector as an engineer at the Engineering Company for the Petroleum and Chemical Industries (ENPPI) in 1992. Over the years, he rose through the managerial ranks until he became Senior Project Manager at…

Burullus Gas Company has brought two new wells in the deepwater West Delta area of the Mediterranean onstream. The two wells have a total  production of 60 million cubic feet per day (mcf/d) of natural gas, according to a statement by the Ministry of Petroleum and Mineral Resources. The new wells are expected to help reduce the gap between production and consumption in the local market, particularly during the summer months when demand is typically higher. The first of the two wells, Sapphire South Central DP, is the third to come onstream under Phase 11 of the West Delta Deep…

The general assembly meeting of Nasr Petroleum Company’s (NPC), was briefed on the developments in the company’s projects especially the new Vapor Recovery Unit (VRU), a technique to capture and recover harmful emissions, together with other plans aiming at increasing the production of its high-value petroleum products, and produce 340,000 tons of butane gas per year (t/y). Moreover, NPC’s chairman, Mohamed Abdullah, shed light on several of the company’s rolled out projects in alignment with the  fifth axis of the ministry’s strategy, related to safety, environmental preservation, and energy rationalisation. The projects include the construction of a seawater desalination unit…

Minister of Petroleum and Mineral Resources, Karim Badawi, has announced a round of transfers and assignments that included head of central administration at the Ministry, deputies to CEOs at the Egyptian General Petroleum Corporation (EGPC), as well as chairmen of some petroleum sector companies. The reshuffle aims to support petroleum entities with experienced calibres as well as fill the positions left vacant by recent retirements, said the ministry on Friday. Mohamed Ali Assy has been appointed as Head of the Central Administration for Financial, Commercial, and Economic Affairs at the Ministry. Assy started as an accountant in 2000 at the…

Three European nations, the United Kingdom, Germany, and France—known as the E3—have initiated the long-awaited snapback mechanism against Iran. This mechanism, a key component of the 2015 Iranian nuclear deal, officially known as the Joint Comprehensive Plan of Action (JCPOA), allows any of its signatories to automatically reinstate all United Nations (UN) sanctions against Iran if it’s found to be in “significant non-performance” of its commitments.The snapback process is designed to be veto-proof, giving any signatory—except for Germany, which does not have veto power at the UN—strong leverage. The E3 nations officially informed the UN Security Council of their decision…

China’s Sinopec, one of the world’s largest state-owned energy and chemical companies, signed an agreement to to deliver engineering services for ACWA Power in Yanbu, Saudi Arabia, supporting the development of what will be the world’s largest integrated green hydrogen and green ammonia facility in the country, Reuters reported. The project will harness wind and solar energy to produce about 400,000 metric tons of green hydrogen and 2.8 million tons of green ammonia each year. Under the agreement, the company’s subsidiary, Sinopec Engineering Group, will handle the front-end engineering design as well as the convertible engineering, procurement, and construction work…