Author: Rigs & Barge World
Eni, the Italian energy giant, started the production of natural gas from the Merakes East Field located in the Kutei basin, offshore Indonesia. The field is expected to produce up to 100 million standard cubic feet per day (mmscf/d), equivalent to 18,000 barrels of oil equivalent per day (boe/d). The field is connected to the Jangkrik Floating Production Unit (FPU) operated by Eni through a subsea pipeline. Eni said, “After the initial processing onboard the FPU, the gas will be transferred via the pipeline network to supply the domestic market and the Bontang liquefaction plant, which supplies LNG for both…
The UAE is pushing ahead with ambitious upstream development plans, including working towards Adnoc’s goals of reaching 5mn b/d crude production capacity by 2027 and gas self-sufficiency by 2030. This has put state drilling firm Adnoc Drilling on a strong growth trajectory (MEES, 14 February). Fresh from securing an $806mn contract for three offshore island rigs on 5 May, Adnoc Drilling unveiled another set of record quarterly results for Q1 on 8 May. Revenues and profits for Q1 were by far the strongest start to the year, although both were down slightly from the all-time highs set in Q4. (CONTINUED…
The Egyptian Natural Gas Holding Company (EGAS) and Harbour Energy have signed an agreement to expand exploration and production operations onshore Disouq gas field in the Nile Delta concession area. The agreement would secure an additional acreage of the concession under improved commercial terms, noted a Harbour Energy press release. Disouq Petroleum Company (DISOUCO), a joint venture between Harbour Energy and EGAS, gains the right to produce natural gas under the revised conditions while committing to increased drilling activities within the existing Disouq concessions and the newly awarded acreage. “This agreement aligns with the Ministry of Petroleum and Mineral Resources’…
Chariot Limited, an energy group focused on Africa, announced on May 14 that Energean plc has returned its Moroccan offshore interests to Chariot. The transfer includes Energean’s full stake in a subsidiary that held 45% of the Lixus Offshore license and 37.5% of the Rissana Offshore license. In 2023, Chariot sold a portion of its stake in Moroccan offshore waters to Energean in a deal valued at more than $900 million. With this change, Chariot takes over as the operator of both projects, now holding a 75% stake in each. Morocco’s National Office of Hydrocarbons and Mines of Morocco (ONHYM)…
Opec began the unwinding of voluntary production cuts last month but the impact on actual production was limited. Output edged up by just 10,000 b/d to 26.98mn b/d, largely because previous unfettered overproduction by a handful of producers limited the scope for actual gains. The broader Opec+ alliance began unwinding 2.2mn b/d of voluntary cuts being made by eight core members in April, with combined quotas increasing by 138,000 b/d. Five of these eight producers are part of Opec. Opec’s share of this quota increase was 105,000 b/d, but output rose by barely 10% of this total. This was in…
Low break-evens keep the Marcellus on top Source link
The Ministry of Petroleum and Mineral Resources (MoPMR) has announced compensation for citizens whose fuel pumps were damaged due to gasoline that was found to be defective after testing. The decision came after a recent surge in complaints regarding fuel quality. Drivers who reported issues between May 4 and May 10 via the hotline 16528 or the government’s online complaints system will be eligible for compensation up to EGP 2,000 to cover fuel pump replacement costs. To expedite the process, the Ministry opened an electronic portal (www.shakwa.eg) through the Unified Government Complaints System. Eligible complainants can now upload copies of…
The decision to accelerate the tapering of Opec+ production cuts in May and June means that Saudi production will be considerably higher than initially expected over summer. Saudi Arabia’s Opec+ allocation rises to 9.367mn b/d next month, up from 9.145mn b/d under the roadmap agreed on in December (MEES, 6 December 2024), and up a substantial 389,000 b/d from the beginning of the year. With another accelerated tapering for July a very real possibility when the Opec+ ‘Group of Eight’ ministers meet on 1 June, Saudi output could ramp up further through summer. Nevertheless, a significant increase in Saudi crude…
The Egypt Upstream Gateway (EUG) organized a specialized workshop to discuss promising exploration opportunities and undeveloped discoveries on the investment map. It reviewed 13 investment opportunities currently offered for bidding, including seven undeveloped discoveries in the Mediterranean Sea for the Egyptian Natural Gas Holding Company (EGAS) for the first time, three exploration areas in the Western Desert for the Egyptian General Petroleum Corporation (EGPC), and three exploration areas in the Gulf of Suez for the Ganoub El Wadi Petroleum Holding Company’s (Ganope), which are scheduled to close on July 2, 2025. During the workshop, the gateway’s working team delivered technical…
The Egyptian Natural Gas Holding Company (EGAS) has signed a 10-year charter agreement with global leader in marine energy infrastructure Höegh Evi for the deployment of Hoegh Gandria as a floating storage and regasification unit (FSRU) in the fourth quarter (Q4) of 2026 to Ain Sokhna’s Sumed Port, providing up to 1,000 million standard cubic feet per day (mmscf/d) of peak liquefied natural gas (LNG) regasification capacity. The company said on Tuesday that Hoegh Gandria’s conversion from the LNG carrier will begin immediately to ensure the timely delivery of the FSRU. “Höegh Evi is proud of its longstanding role as…