Author: Rigs & Barge World
Petroleum Minister Karim Badawi attended the closing ceremony of the Industry Simulation Program (ISP)—an initiative by the Society of Petroleum Engineers (SPE) Egypt branch and hosted by Enppi. Held from February 9 to 24, 2025, the program aimed to equip university students with practical industry skills, focusing on advanced technologies such as AI and machine learning. In his speech, Badawi outlined the six key pillars of the ministry’s strategy, explaining how young trainees could draw on these pillars to develop their career experiences and become effective contributors to their implementation. He praised the winning teams for the performances which showcased…
Pivot to gas could benefit DJ Basin producers Source link
The Gulf Mercantile Exchange (GME) on 20 April signed an MoU with China’s Shanghai Futures Exchange (SHFE) to “to establish a framework for strategic cooperation between the Middle East and China’s derivatives markets.” In a press release, the region’s largest commodities and futures exchange says that “this partnership supports GME’s ongoing efforts to position the Gulf as a global commodities hub and aligns with SHFE’s internationalization strategy to connect with key markets across the world.” (CONTINUED – 408 WORDS) Read this article for free Gain access to over 60-years of energy analysis and news Delve into the details backed by…
bp announced its financial results for the first quarter (Q1) of 2025, reporting underlying replacement cost (RC) profits of $104 billion compared to $1.2 billion for the previous quarter and $2.7 billion during the same period of 2024. The statement revealed that the company’s profit attributable to shareholders for Q1 2025 reached $687 billion, compared to approximately $1.96 billion in Q4 2024 and $2.3 billion in Q1 2024. Regarding oil production and operations, the RC profit before interest and tax for Q1 2025 was $2.8 billion, compared to $2.6 billion in the previous quarter, according to bp. The company explained…
The Deputy CEO of the National Iranian Drilling Company (NIDC) for Drilling Operations Hamidreza Shafiei-Makvand announced that it drilled and completed eight oil and natural gas wells its rigs during Farvardin (March 21–April 20), the first month of the Iranian calendar year. Makvand elaborated that one of the wells was a developmental well, while the other seven were workover wells. He added that six of the wells are located in the operational area of the National Iranian South Oil Company (NISOC), and all have been finalized and handed over to the employer. Makvand noted that one well was drilled as…
The energy markets are currently jittery as tensions escalate between nuclear-armed South Asian neighbours India and Pakistan, moving beyond mere rhetoric.Following a high-level meeting on Tuesday, April 29, with the chiefs of armed forces, the national security advisor, the Home Minister, and the Defence Minister, Indian Prime Minister Modi has reportedly delegated decision-making authority to the tri-services. They have been granted the autonomy to locate and neutralize those responsible for the deaths of 65 tourists in Kashmir last week.This delegation of authority echoes a similar instance in 2019, when, after a suicide bombing killed over 40 Indian soldiers, Prime Minister…
*China’s gas imports for the first quarter of 2025 slumped to 40.6bcm after reaching a record high 45.3bcm a year earlier. The ax fell on LNG, with volumes down 5.7bcm (21%) year-on-year, while cheaper pipeline imports increased by 0.9bcm (see table). Firm European demand pushed global spot LNG prices up at the beginning of the year causing Asian buyers like China to avoid incremental buying (MEES, 4 April). 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…
As part of the first pillar of the Ministry of Petroleum and Mineral Resources’ strategy to attract investments, increase natural gas production, and create incentives for promising frontier, the Egyptian Natural Gas Holding Company (EGAS) has signed a preliminary Memorandum of Understanding (MoU) with ExxonMobil Egypt Upstream Ltd. to lay the foundation for a new system in the Cairo and Masry offshore concession areas in the Mediterranean. This is expected to be achieved through incentives that promote investment in high-risk frontier areas, given the challenges faced by companies operating in such zones. The Ministry has agreed to modernize the framework…
Woodside has announced a final investment decision (FID) to move forward with its Louisiana LNG development, a major project consisting of three production trains with a total capacity of 16.5 million tons per annum (Mtpa). The company is targeting first LNG production by 2029. Woodside’s project will enable the company to deliver approximately 24 Mtpa from its global LNG portfolio in the 2030s, operating over 5% of global LNG supply. The development’s total capacity is 27.6 Mtpa and includes expansion potential for two additional LNG trains. Louisiana LNG represents a compelling investment that will deliver significant cash flows and create…
The first step in drill string design is designing a Bottom Hole Assembly (BHA). The BHA comprises various components that work together to enable drilling engineers to achieve their drilling targets. Designing a BHA involves several critical steps that drilling engineers must consider to ensure that the drilling operation is safe, efficient, and successful. In this article, we will examine the steps involved in designing a BHA and how drilling engineers carry out this process to achieve optimal results. Drill Collar Size Selection Unless mechanical hole sticking is a problem, the most oversized diameter drill collars & BHA consistent with other needs…