Author: Rigs & Barge World

Egypt’s decision to install four floating storage and regasification units (FSRUs) was aimed at increasing security of supply and reducing its dependence on piped Israeli gas amid growing tensions between the two countries (MEES, 4 July). While many market onlookers had assumed Cairo’s reliance on the FSRUs would be reduced during the milder autumn and winter months, the planned shutdowns of Israel’s Chevron-operated 1.0bn cfd Tamar and 1.2bn cfd Leviathan during portions of October and November have meant LNG imports continue at near record levels. In late October, Tamar was shut in for 12 days, and on 11 November Leviathan…

The Ministry of Petroleum and Mineral Resources (MoPMR) took part in the 16th Kuwait Week in Cairo, held under the patronage of Egyptian Prime Minister Mostafa Madbouly. The ministry participated with a dedicated pavilion in the Egyptian-Kuwaiti Companies Exhibition, featuring several of its key entities, including the Egyptian Mineral Resources Authority (EMRA), the Petroleum Projects and Technical Consultations Company (Petrojet), the Engineering for the Petroleum and Process Industries (ENPPI), the Egyptian Drilling Company (EDC), Petroleum Marine Services (PMS), and the Modern Drilling Company (MDC). This year’s Kuwait Week brought together more than 80 Egyptian and Kuwaiti institutions across sectors such…

Statement attributable to Australian Energy Producers Chief Executive Samantha McCulloch Today’s decision by the Albanese Government to strike an agreement with the Greens on environmental law reform is a squandered opportunity to address the significant costs and delays in delivering gas to Australian consumers.  Carving gas out of streamlined reforms is simply not in the national interest. The deal will entrench slow approvals which will drive up energy costs, deter investment and further delay the new gas supply Australia urgently needs.  More than 5 million Australian households rely on natural gas, it is an essential input to manufacturing and is…

Karim Badawi, Minister of Petroleum and Mineral Resources, appointed Mohamed Awad as Chairman and Managing Director of Petrosilah Petroleum Company. The decision also included the appointment of Mostafa Abdel-Moneim Abbas as General Manager of Operations for the company. According to the Ministry’s statement, this strategic leadership change is part of the sector’s broader strategy to support efficiency and integrate fresh talent and expertise into key production sites. Awad holds a Bachelor’s degree in Engineering from Suez Canal University in 1994. He began his career in the sector in 1997 as an engineer at PetroGulf, where he progressed through various roles. By…

Egypt’s gas deficit averaged a record 2.53bn cfd last quarter as domestic demand spiked during the high-demand summer season. The deficit represented a 52% increase on the previous quarter and was 43% higher than the same period last year. The previous record of 1.77bn cfd in Q2 last year has been smashed. Gas demand was up 16% quarter-on-quarter to 6.62bn cfd and 4% year-on-year for Q3, coming in just below 3Q21’s record of 6.65bn cfd. This included a monthly record of 6.83bn cfd for August (MEES, 24 October), before dropping back to 6.71bn cfd in September as temperatures cooled. (CONTINUED…

Energean, the international energy company focused on natural gas exploration and production, announced that its Egyptian assets showed “an excellent performance” during the first nine months of 2025 with production of 29,000 barrels of oil equivalent per day (boe/d), according to its latest trading update report. The strong Egyptian performance offset the effect of a decline in production at the company’s interest in the Cassiopea Field, Italy. The report pointed out that Energean’s average production through the nine months ending September 30, 2025, came in at 151,000 boe/d, which is slightly lower than the 156,000 boe/d posted for the corresponding period…

Egyptian independent Cheiron announced the start-up of the West El Burullus (WEB) project on 16 November. The offshore Mediterranean development has started with initial flows of 45mn cfd, ramping-up to 75mn cfd early next year. “We are pleased to announce the start of production from the West ElBurullus (WEB) gas field, following the successful connection of the first wells to the national gas grid,” Cheiron says. The gas is piped to UK major Shell and Malaysian state firm Petronas’ nearby West Delta Deep Marine (WDDM) facilities. Cheiron secured a $75mn loan from a local banking syndicate to help cover part…

Oil prices appear to be trending toward the mid-fifty dollar mark, a trajectory many analysts predicted months ago. As of 11:37 GMT on Wednesday, West Texas Intermediate (WTI) was priced at $57.09 and Brent crude at $62.23.The price continues its steady decline despite a reported fall in US crude stocks last week. While a drop in stocks is typically a bullish factor (suggesting higher prices), its influence is currently overshadowed by several major macroeconomic factors and geopolitical issues.US Crude StocksGlobal economic concerns have been weighing on investors. These worries are amplified by the ongoing tariff wars involving the United States…

Iman Hill, Country Manager and Managing Director of Vaalco Energy Egypt, has been appointed Chairwoman of the Egypt Oil and Gas Committee, effective December 11—the set date for EOG2025 convention. The announcement was made during the Committee’s Executive Board meeting on November 24, which also witnessed the launch of a comprehensive restructuring of the committee’s operational framework. “We want a sustainable environment that makes it easy to invest in Egypt so that when we come to capital allocation, Egypt is an easy choice for our companies,” Hill emphasized—signaling her strategic priorities during her tenure. During the meeting, Hill outlined key…

In a continued effort to enhance performance and inject new expertise, Karim Badawi, Minister of Petroleum and Mineral Resources, issued a new round of transfers among senior financial affairs executives in the petroleum sector. Walid Nabil Khamis Mohamed has been appointed Deputy Managing Director for the Financial Affairs and Board Member at the Egyptian Natural Gas Holding Company (EGAS). He began his career at Cooperation Petroleum Company (CPC) in 1997, then in 2026 he joined   EGAS, as the General Manager of Financial Monitoring, and in 2023 he was appointed as Assistant Chairman for Financial Affairs at Modern Drilling Company (MDC).…