Author: Rigs & Barge World

In one of his usual animated TV appearances, Iraqi electricity ministry spokesperson Ahmed Musa this week was in despair as he told a caller that “the best we can generate is 27-28GW and [the peak load] for all of Iraq will be 54GW…what can I do? What can I do?” throwing out his hands. The new peak load estimate Mr Musa provided on 14 May to Dijla TV is 4GW higher than January’s estimate and would result in a colossal 26GW shortfall (see chart). That peak demand could be double the maximum amount that Iraq can supply is a testament…

Iraq’s state-firm Midlands Oil aims to double production at the East Baghdad oilfield to 120,000 b/d by June 2026, according to 13 May comments by East Baghdad–South Operations Manager Firas Fawzi. EBS Petroleum – an Iraq-registered subsidiary of ZhenHua Oil which is in turn the oil-focused subsidiary of Chinese state-firm Norinco – operates East Baghdad–South. Production at EBS was just under 53,000 b/d in April, while the Midlands’s operated East Baghdad–North stood at about 6,000 b/d. Oil from both flanks is comingled and processed at shared 60,000 b/d facilities at East Baghdad–South. (CONTINUED – 247 WORDS) Read this article for…

As GCC leaders lined up to pledge more than $3 trillion in investments and trade deals with the US during President Donald Trump’s regional tour this week, the US’ burgeoning LNG export sector is attracting considerable attention. “We are looking at expanding in LNG, and the US is really a good place to put our investment,” Aramco CEO Amin Nasser told the Saudi-US Investment Forum in Riyadh this week, and his firm is far from alone. Adnoc, through XRG, and QatarEnergy have already finalized investments in large-scale under-development LNG export terminals, putting them ahead of Aramco in the race. Indeed,…

The Cabinet approved five petroleum concession agreements between the Egyptian General Petroleum Corporation(EGPC), the Egyptian Natural Gas Holding Company (EGAS), and a number of international companies. These agreements cover oil exploration and exploitation in the Northwest El-Maghara in the Western Desert, East El-Hamd and East Gemsa offshore Gulf of Suez, as well as exploration and exploitation of gas and crude oil in the North Damietta offshore area in the Mediterranean. The agreements comprise $221.23 million worth of investments in addition to $31.5 million in non-refundable grants to expand exploration and development activities in the Western Desert, Gulf of Suez, and…

Aramco, the Saudi oil giant, signed  34 Memoranda of Understanding (MoUs) and agreements totalling $90 billion with major US companies on the fringe of  US President Trump’s tour in which  Saudi Arabia was the first stop. “Our US-related activities have evolved over the decades and now include multidisciplinary R&D, the Motiva refinery in Port Arthur, start-up investments, potential collaborations in LNG, and ongoing procurement,” said Amin H. Nasser, president and CEO of Aramco. The deals are historic and transformative for both countries and represent a new golden era of partnership between the United States and Saudi Arabia, as the White…

PrPrime Minister, Mostafa Madbouly conducted a site visit to Sukari Gold Mine (SGM) in Marsa Alam, where he met with executives from AngloGold Ashanti,co-owner of SGM, alongside Minister of Petroleum and Mineral Resources Karim Badawi, geological experts, and parliamentary representatives. The visit aimed to follow up work in the mine and review future expansions, and investment opportunities in Egypt’s mining sector. The  government is adopting an integrated approach, in cooperation with the parliament, to implement Egypt’s plan for developing the mining sector, according to the Prime minister who pointed out that  reform and modernization of legislative, financial, and investment frameworks in alignment…

The East Mediterranean has emerged as a highly dynamic area of operations for US major Chevron over the five years since its $5bn takeover of compatriot Noble Energy in 2020. The firm has continued to expand its footprint in the basin since then, and although last year’s net output of 100,000 boe/d was just 3% of its global output, it sees the region as ripe for growth. “I’ll start by saying we’re excited about our entire portfolio in the Eastern Mediterranean, and that is a tribute to the people at Noble – this is largely a legacy Noble Energy position,”…

Modern Gas, an Egytian joint stock company with operations in both Saudi Arabia and the United Arab Emirates (UAE), announced the successful completion and operation of its integrated natural gas project in Al Jubail Island in Abu Dhabi, UAE. The project involved establishing a natural gas pressure reduction station with a capacity of 3,000 cubic meters per hour and the extension of the main steel pipeline feeding the island. It also included building the first phase of the natural gas network stretching over 30 kilometers-within the island. This phase would supply the areas of Ain Al Maha; Marfaa Al Jubail;…

Much of Chevron’s East Mediterranean attentions focus on Egypt and Israel (MEES, 9 May) but development activities have also commenced offshore Cyprus this quarter CEO Mike Wirth revealed during his firm’s Q1 call on 2 May. “We entered pre-FEED activities in the first quarter,” he said. Chevron (35%, op) has until November of this year to complete pre-FEED at the 3.5tcf Aphrodite gas field and must complete FEED by the end of 2026 according to the new milestones set out in the approved development plan from February this year (MEES, 21 February). (CONTINUED – 745 WORDS) Read this article for…

United Energy Group (UEG), a global leader in renewable energy, has signed a Memorandum of Understanding (MoU) with Alexandria Fertilizers Company (AlexFert), one of Egypt’s largest fertilizer producers, to develop a project to produce green ammonia from green hydrogen. Using renewable energy in the process, the project replaces traditional production methods based on fossil fuels with cleaner alternatives. UEG will be responsible for setting up the green hydrogen production project near AlexFert’s current facilities in Alexandria. “We are pleased to collaborate with AlexFert on this groundbreaking project. By combining our expertise in green hydrogen development with AlexFert’s established infrastructure, we…