Author: Rigs & Barge World

Minister of Petroleum and Mineral Resources Karim Badawi issued a new round of appointments for finance and contracts directors in a number of petroleum sector companies. Haytham Fakhry Abdou Saleh was appointed Assistant Chairman for Financial Affairs at Tanmia Petroleum Company. Saleh began his career as an accountant at Engineering for the Petroleum and Process Industries (ENPPI) in 2001. He progressed through various positions within the company, becoming Assistant General Manager of Financial Affairs in 2019, and then General Manager of Financial Affairs in 2021. Mohamed Sayed Abdelhady Abdelghany was assigned the role of Assistant Chairman for Financial and Commercial…

Egypt has leased the Energos Winter floating, storage, and regasification unit (FSRU) for five years, and the unit is expected to arrive at Damietta port by August this year. The Ministry of Petroleum and Mineral Resources has developed a comprehensive plan to upgrade and secure gas supply to meet the needs of the electricity, industrial, and economic sectors. Egypt has connected three regasification units to SUMED and Sonker berths in Ain Sokhna port. The three units hold regasification capacity of 2,250 million standard cubic feet per day (mmscf/d), said Moataz Atef, Undersecretary of the Minister’s Technical Office and Official Spokesperson,…

United Energy Egypt (UEE) has signed a Memorandum of Understanding (MoU) with LONGi Green Energy, a global leader in solar technology, to deploy a 20-megawatt (MW) hybrid solar power system across six oil fields. The project is expected to deliver 24,800 megawatt per hour (MWh) of annual clean energy, powering more than 6,000 Egyptian households, while avoiding over 14,000 tons of carbon dioxide emissions yearly, equivalent to removing 3,000 gasoline vehicles. “This partnership with LONGi marks a pivotal moment in our journey to redefine how energy is produced in the oil and gas sector. By deploying cutting-edge solar and storage…

Exxon concluded its three-well offshore East Mediterranean drilling campaign this week with a “significant gas discovery,” at the Pegasus-1 prospect in Cyprus’ Block 10, the firm’s VP John Ardill said on 7 July. “The ‘Pegasus-1’ offshore well, located about 190 kilometres southwest of Cyprus, indicated approximately 350 metres of gas-bearing reservoir. The well was safely drilled by the ‘Valaris DS-9’ drillship in 1,921 metres of water,” Cyprus government spokesman Konstantinos Letymbiotis announced earlier that day. (CONTINUED – 1791 WORDS) Read this article for free Gain access to over 60-years of energy analysis and news Delve into the details backed by…

Yasser Ramadan, Chairman of the Mineral Resources and Mining Industries Authority (MRMIA), held a number of meetings with international investors showing interest in investing in the Egyptian mining sector. The meetings took place on the sidelines of the 4th edition of the Egypt Mining Forum. Ramadan received a delegation from the Saudi Al Haytham Mining Company. The meeting witnessed discussions on ways to enhance joint cooperation and review the investment opportunities offered by the Egyptian mining sector. The two sides also discussed ways to exchange technical expertise to contribute to raising the efficiency of mining operations and achieving added value…

Libya has extended the deadline for firms to submit bids for acreage through its licensing round amid huge IOC interest. After 100 international firms expressed interest in the 22 blocks on offer (MEES, 14 March), 44 have been qualified by Libya’s National Oil Corporation (NOC), an official at the firm says. NOC had initially set a deadline of mid-November for firms submitting bids, but this is now being pushed back into early 2026, with IOCs requesting more time to study the Virtual Data Room. Libya’s first post-revolution licensing round has seen several delays over political and security issues in the…

The Ministry of Petroleum and Mineral Resources is set to implement a monitoring, reporting, and verification (MRV) system to regularly track flaring, fugitive methane, and vented methane emissions at the operator or project level, according to International Monetary Fund’s (IMF) Egypt Country Report No. 25/186 of July 2025. Furthermore, a forthcoming decree will require operating companies to submit emission reduction targets for approval, in line with Egypt’s Nationally Determined Contributions (NDCs). Companies that fail to comply will face fines after a two-year grace period. Earlier in July 2025, President Abdel Fattah El Sisi ratified Decree No. 31 of 2025, which…

The Chairman of the Egyptian Mineral Resources Authority (EMRA), Yasser Ramadan, announced that the Authority will finalize and launch its new mining geoportal by the end of the year. The move supports EMRA’s transformation into an economic body, with a dedicated digital platform that provides investors with the up-to-date geological data they need to make informed investment decisions in Egypt. “We needed to think like an investor. So we had to ask: what does an investor need? An investor needs clarity, stability, and a huge amount of data. Data is crucial for making a decision to invest,” said Ramadan. “Our…

BP signed a wide-ranging MoU with Liby’a National Oil Corporation (NOC) this week which could pave the way for a major increase in the firm’s operations in the country. It has been decades since BP had a significant presence in Libya, but last year it kick-started a long-delayed exploration drilling campaign and it now sees the country’s under-developed hydrocarbon resources as a route to accelerating its renewed upstream investment strategy (MEES, 28 February). In an 8 July announcement, BP says the MoU is “to evaluate redevelopment opportunities in the mature giant Sarir and Messla oilfields in Libya’s Sirte basin, including…

The Egyptian Mineral Resources Authority(EMRA) and Aton Resources Company have signed a preliminary deal to amend the Abu Marawat Concession agreement. This came in the presence of the Minister of Petroleum and Mineral Resources Karim Badawi, on the sidelines of the Egypt Mining Forum held during the period between 15- 16 July.  The agreement was signed between the Head of the Central Administration for Legal Affairs at the Ministry of Petroleum and Mineral Resources, Mohamed El Bagoury, the Chairman of EMRA, Yasser Ramadan and the CEO of Aton, Tonno Vahk. Aton Resources is a well-established mining company in Egypt, known…