Author: Rigs & Barge World

British companies, including BP, Shell, Harbour Energy, and Capricorn show increased interest in Egypt with an obvious commitment to inject substantial investments into is evident of the appeal of Egypt’s energy investment landscape, said Karim Badawi, Minister of Petroleum and Mineral Resources, during his meeting with Mark Bryson-Richardson, the British Ambassador to Cairo, and his accompanying delegation, on November 20. The Minister also highlighted Egypt’s growing role as a regional gas and oil trading hub, which receives significant quantities of gas, particularly those expected from Cypriot fields, that can be directed to value-added industries. He also reviewed the ongoing mutual…

Ministry of Petroleum and Mineral Resources (MoPMR) organized the second workshop about the applications of Artificial Intelligence (AI) in oil and natural gas Exploration and Production (E&P), in cooperation with SLB. The attendees included  Ehab Ragaee, First Undersecretary for Production Affairs at the Ministry of Petroleum and Mineral Resources (MoPMR), and Mohamed Radwan, Vice Chairman of South Valley Egyptian Holding Company for Petroleum (GANOPE) for Agreements and Exploration, and Director of the Egypt E&P Gateway, alongside several company chairmen, exploration managers, and representatives of foreign partners. The workshop aimed to exchange experiences and successful practices in implementing AI to enhance…

After more than two decades of fits and starts, the Banda gas project off Mauritania’s Atlantic coast looks for the first time like a genuine development project rather than a paper exercise. What was long considered a marginal offshore field is being repositioned as a small-but-strategic domestic gas-to-power project that could both firm up Nouakchott’s electricity supply and give Mauritania a second gas pillar alongside the flagship 15tcf Greater Tortue-Ahmeyim (GTA) development (MEES, 30 May). Mauritania’s only gas-capable power plant is the 180MW Thermique plant that currently burns fuel oil. Energy Minister Mohamed Ould Khaled announced plans earlier this year…

Oil giant Saudi Aramco has made over $30 billion in 17 Memoranda of Understanding (MoUs) and agreements with major companies in the US during a visit to Washington by the Saudi Crown Prince Mohammed bin Salman. These agreements cover a range of activities, including Liquefied Natural Gas (LNG), financial services, advanced materials manufacturing, and procurement of materials and services, the company said on Thursday. “We expect the multi-billion-dollar MoUs and agreements announced today to act as a springboard for further progress, strengthening Aramco’s longstanding legacy of collaboration with American counterparties and unlocking new value creation opportunities that promote innovation and…

Having exported 1.05mn tons of LNG since its February start-up according to Kpler, the 2.3mn t/y Tortue FLNG project’s first condensate cargo was lifted in October, Dallas-based partner Kosmos Energy announced on 3 November during its Q3 earnings call. The Speedway oil tanker lifted a 548,000-barrel cargo and delivered it to Rotterdam, according to Kpler data. (CONTINUED – 149 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

US oil giant Exxon Mobil is evaluating potential acquisitions of Russian Lukoil overseas assets, sources familiar with the talks told Reuters. This places Exxon Mobil alongside rival Chevron, which is also reviewing opportunities to buy portions of Lukoil’s international portfolio. Exxon Mobil’s interest is reportedly focused on Kazakhstan. The company already shares stakes with Lukoil and Chevron in the major Karachaganak and Tengiz oil fields. Chevron, a long-time partner in these ventures, is also analyzing possible deals for the Russian company’s holdings, Reuters reported earlier this week. The latest developments follow a Bloomberg report on Tuesday that Exxon Mobil and Abu…

Egypt’s gas output edged up in Q3 with a number of foreign operators stepping up activity as Cairo began to pay down receivables. Although o… Source link

Egypt and Russia’s state-owned Rosatom have signed a nuclear fuel purchase order and a comprehensive cooperation agreement for the El-Dabaa Nuclear Power Plant. The signings occurred during a high-profile ceremony for the installation of the Reactor Pressure Vessel (RPV) for Unit 1 of the plant. President Abdel-Fattah El-Sisi and the Russian President Vladimir Putin attended the ceremony. The event coincided with Egypt’s Fifth Annual Nuclear Energy Day, commemorated yearly on November 19th to mark the 2015 intergovernmental agreement between Egypt and Russia to build and operate the nation’s first nuclear power plant. Prime Minister Mostafa Madbouly, after meeting with Rosatom…

The European Commission (EU) has granted conditional approval for Abu Dhabi National Oil Company (ADNOC)’s landmark €14.7 billion acquisition of German plastics and chemicals manufacturer Covestro, Reuters reported. The Commission announced the decision on November 14, requiring ADNOC to adhere to several commitments to address competition concerns. The conditional greenlight requires ADNOC to fulfill commitments, including amending its articles of association and allowing other industry players access to specific Covestro sustainability-related patents. These required measures aim to ease competition concerns that were raised during the review process. The €14.7 billion takeover is ADNOC’s largest-ever acquisition and is one of the most…

Adnoc Gas, a publicly-listed subsidiary of Abu Dhabi’s state energy giant Adnoc, sees rapid population and economic growth driving domestic gas demand growth of 4-5% annually between 2023 and 2030. Even this strong outlook is just the base case scenario, as it excludes the potentially significant impact of demand from AI data centers. “AI data center demand is not part of that 4-5% growth outlook,” says CFO Peter van Driel. “The reason for that is I do not know exactly how big it’s going to be. The second thing is, I am pretty sure that these data centers are going…