Author: Rigs & Barge World

Oxy Oman, a wholly owned subsidiary of U.S Occidental Petroleum (Oxy), has secured a 15-year extension of its Exploration and Production Sharing Agreement (EPSA) for the onshore Block 53 in south-central Oman, where it operates the Mukhaizna field, the largest producing oil field in the country. The extended period of the agreement involves drilling activities and implementing enhanced oil recovery projects across various reservoirs to increase the total estimated recoverables of oil by 800 million barrels (mmbbls). The agreement also entails the utilization of artificial intelligence (AI) to optimize steam flood patterns to boost hydrocarbon recovery. “We are proud of…

The breakout of the Israel-Iran conflict has increased concerns over the security of supply of oil and gas from the Middle East, especially should the US ultimately enter the war. Israel has so far refrained from targeting Iranian oil production and export facilities, and Iran has not sought to pressure Israel’s Western allies through disrupting energy flows from the region. However, the risk of escalation and ongoing GPS interference has already led some shipping firms to reduce their exposure to the Gulf (MEES, 20 June). Analysts still see the risk of Iran seeking to close the Strait of Hormuz as…

The Egyptian General Petroleum Corporation (EGPC) carried out oversight efforts and campaigns across the country through its Central Committee for Monitoring Product Circulation and its geographically dispersed sub-committees to track the movement and circulation of petroleum products and seize any violations or illegal attempts to dispose of or smuggle subsidized products. These efforts were conducted in integration with the Supply Police and agencies of the Ministry of Supply, as part of a comprehensive governmental effort to achieve the highest levels of oversight and discipline within the local market for petroleum product distribution. The committee‘s work relied on integrating field supervision…

As Israel and Iran’s military confrontation enters its second week (MEES, 20 June), one mainstay in the decades old struggle is notably absent: the Iran-backed Lebanese Shia militia Hezbollah. This marks an important change for the region, as Hezbollah has provided a military flank for Iran (and its proxies) in nearly every conflict since its inception in the early 1980s, including the Syrian Civil War, the Israel-Gaza War, and its own wars with Israel. Hezbollah’s apparent neutrality has largely been met with praise in Lebanon, and it may answer the biggest question mark for the country’s nascent government formed earlier…

Sidi Kerir Petrochemicals Company (SIDPEC) obtained international accreditation and published the Environmental Product Declaration (EPD) report for its High-Density Polyethylene (HDPE) product. This achievement strengthens its position as a role model for environmentally sustainable industrial practices. The EPD is an internationally recognized document that provides comprehensive data on a product’s environmental impact throughout its entire lifecycle. This includes everything from raw material extraction to the product’s manufacturing, use, and final disposal. The report includes precise details on energy and water consumption, carbon emissions, and the use of chemical materials, providing complete data on the product’s carbon footprint and environmental impact.…

Prime Minister Mostafa Madbouly led an inspection tour to follow up on developments in preparing the infrastructure at Ain Sokhna port so that the second FRSU to start operations. Madbouly began his tour by inspecting the Energos Eskimo Floating Storage Regasification Unit (FSRU). During his inspection tour, Madbouly reviewed the technically advanced works that Petrojet will be finalising within days . These works are in preparation for operating the FSRU, after which it will be transferred to the Arab Petroleum Pipelines Company (SUMED) port berth in Sokhna. The FSRU has a capacity of 750 million cubic feet of gas per…

Two oil tankers — the Front Eagle and Adalynn — collided off the eastern coast of the UAE on Tuesday morning, sparking large fires and raising concerns over possible environmental damage. The Front Eagle, a Very Large Crude Carrier (VLCC) loaded with 2mn barrels of Basrah Heavy grade crude from Iraq, was en route to Zhoushan, China. MEES can confirm that the lifter was China’s Unipec. The Adalynn’s activity isn’t as clear. The Suezmax vessel appears to have drydocked in Duqm, Oman earlier this year before sailing to the UAE’s Khor Fakkan in early May, where it has been idle at anchorage for over a…

The North Baharia Petroleum Company (Norpetco) continues to implement its plans to increase production with a budget exceeding $100 million and production rates surpassing 16,000 barrels of oil, Norpetco’s chairman, Khaled El-Sheshtawy, said. The company also increased the number of crude oil storage tanks in its fields, reaching a storage capacity of 75,000 barrels. This came during a meeting with Karim Badawi, Minister of Petroleum and Mineral Resources. Norpetco, an Egyptian oil and gas company involved in exploration, drilling, and production activities,  established and operated two significant projects: The first is a new shipping pipeline that ends with   Qarun Petroleum…

Following a US strike on Iranian nuclear facilities, reports indicate that the Iranian parliament has approved closing the Strait of Hormuz in retaliation against its long-standing adversary, the United States. However, the final decision rests with Iran’s Supreme Security Council and, ultimately, Supreme Leader Ayatollah Khamenei, according to a few other reports from Iran.Despite the parliamentary approval, economic and political analysts largely believe Iran is unlikely to take this drastic step. Several factors weigh against such a move: Iran itself relies on the Strait of Hormuz for its oil exports, and key Iranian allies, like China and India (the world’s…

Egypt became the first African and Arab country to lead the International Gas Union (IGU) in a six-year period after a majority of the IGU’s  94 members voted in favor ot its becoming the union’s vice president (2025–2028) followed by the Presidency (2028–2031). Established in 1931, the IGU is a global non-profit organization that leads global efforts to position gas as a pillar of a secure, sustainable, and affordable energy future. Egypt is represented in the IGU by the Egyptian Gas & Energy Association (EGEA). The announcement was made in a press conference where most of EGEA’s senior officials presented…