Author: Rigs & Barge World
Photo from Technology Day 2023. (Photo: Rune Goa) 22/03/2024 Now, a very exciting program with lectures from a variety of companies is ready for Technology Day on June 6th. The event will be held at the Norwegian Offshore Directorate. Technology Day is primarily for those of you who work for the resource management authorities and licensees on the Norwegian shelf. “We are fully dependent on technology development and implementation to realise the values on the continental shelf. The Technology Day is a great opportunity to share experiences and inspire each other,” says Arne…
Most North American oil production left unhedged in early 2025 Source link
Baker Hughes announced its financial results for the Q1 2025 noting that it has achieved revenues worth $6.427 billion compared to $4.18 year-on-year (YoY). The company’s statement showed that it recorded orders of $6.5 billion, including $3.2 billion of IET orders. Also, its attributable net income reached $402 million. “Baker Hughes started the year strong, building on the positive momentum from 2024 and setting multiple first-quarter records. Our continued transformation initiatives and strong execution continue to drive structural margin improvement across both segments. The operational transformation and streamlining efforts have created a solid foundation to optimize margins and enhance returns, even…
Eni CEO Claudio Descalzi last week pledged that his company will invest “more than €8bn [$9.1bn]” in each of its three key North Africa areas of operations over the next four years. A pledge that means that the region, which provided 35% of the Italian firm’s global output for 2024 (598,000 boe/d of 1.71mn boe/d), is likely to strengthen its position further. In Egypt, Eni is looking to bolster output at its declining Zohr field including via the tie-back of nearby discoveries (MEES, 11 April), whilst in Libya the bulk will go on ongoing development of offshore 6tcf ‘Structures A&E’…
26/03/2024 Seabed minerals represent a new and exciting opportunity for Norway, and a chance for us to be a pioneer nation – much like we have been within the oil and gas industry, both as regards stewardship of resources and development of technology. “Norway is a maritime and coastal nation that administers vast natural resources. We have a long tradition of managing the marine environment and its resources in the best interests of the broader society. Norway finds itself in a fortunate position. These rich resources make a significant contribution to the welfare state we live in,”…
Minister of Petroleum and Mineral Resources, Karim Badawi, has issued a resolution for the assignment and transfer of some senior employees and leaders at the ministry and its affiliated companies and authorities. This comes within the ministry’s strategy for promoting production and intensifying drilling and exploration programs to meet the local needs of petroleum products. To reach this goal, the minister meant to make the utmost utilization of the distinguished experts of the sector. The new transformation and assignment movement included: Ahmed Mohamed Ibrahim Abdu as Deputy Executive President for Agreements at the Egyptian General Petroleum Corporation (EGPC) and a…
China imported 12.15mn b/d of crude oil in March, the highest monthly figure since August 2023, and a sharp rebound from an average of just 10.4mn b/d for January and February (MEES, 21 March). Refinery runs of 14.89mn b/d were the highest in a year and the fourth highest on record, with Q1 average runs of 14.82mn b/d second only to the all-time high of 14.95mn b/d hit in Q3 last year. Imports would have been higher were it not for March seeing a crude output record of 4.49mn b/d, up 150,000 b/d year-on-year, with Q1’s 4.40mn b/d also a…
Cheiron, a leading Egyptian exploration and production (E&P) company, has announced the appointment of Shamrendra Singh as its new Chief Operating Officer (COO). Singh officially assumed the role on April 17th, 2025. Singh brings a wealth of experience to Cheiron, having previously served as General Manager and Managing Director for Bapetco. A handover period from his prior responsibilities will extend until May 4th, 2025, ensuring a smooth transition. Prior to his tenure at Bapetco, Singh held the position of Asset Manager for the Elgin hub and J Area assets in the North Sea for BG UK Upstream. He also played…
Petroleumsøkonom Espen Andreas Hauge liker å jobbe med faglige problemstillinger som har stor økonomisk betydning, i et fagmiljø med hyggelige og dyktige kollegaer. Foto: Signe Vaula. 09.04.2024 Vi har nå ledig stilling som petroleumsøkonom. I jobben bidrar du i vårt viktige analysearbeid som skal sikre at ressursene på norsk sokkel utnyttes best mulig og bidrar til verdiskaping for samfunnet. Arbeidsoppgavene er: Samfunnsøkonomisk analyse av prosjekter på norsk kontinentalsokkel, herunder modellering av usikre kontantstrømmer og identifisering av mulige opsjoner. Utvikle scenarioer og vurdere konsekvenser av endringer i omgivelsene og på sokkelen. Samfunnsøkonomisk analyse og vurderinger…
As part of the Ministry of Petroleum and Mineral Resources’ strategy to conduct on-site monitoring of work and production sites, the CEO of Petroleum Marine Services (PMS), Amr Badawy, conducted a field visit to the company’s marine unit, PMS 12, at the West El Burullus (WEB) Offshore Gas Field Development Project in Idku region. He received a detailed presentation on the project status, including the installation of the WEB Offshore platform jacket, a critical component of the project operated by West El Burullus Petroleum Company (PetroWEB). Badawy stressed the importance of expediting the completion of the remaining work while fully adhering…