Author: Rigs & Barge World

Petroleum Marine Services (PMS) has completed the installation of the West El Burullus (WEB) offshore platform, part of the WEB gas field development project in the Nile Delta, operated by West El Burullus Petroleum Company (PetroWEB). The step aligns with Egypt’s plans to secure energy sources and maximize the exploitation of natural gas fields, thus supporting the national economy. The installation involved placing a 345-ton jacket, followed by a 431-ton deck, using cutting-edge lifting equipment aboard the PMS 12 marine unit. According to the ministry’s statement, the next phase will involve installing a 14-inch, 32-kilometer subsea pipeline tied back to…

Since sanctions saw Europe cease to be a major importer of Russian oil in 2022, the Mediterranean Sea has emerged as the main transit point for Russia’s Black Sea flows to the international market. In particular, Ship-to-Ship (STS) transfers – which involve a ‘mother’ vessel transferring oil to one or more ‘daughter’ vessels while offshore – have proven the preferred method for circumventing the need (and documents required) to berth. Prior to Russia’s invasion of Ukraine, the lightering zone offshore Malta was the only major transshipment area in the Mediterranean, accounting for around 75% of the region’s 460,000 b/d STS…

A consortium led by ADNOC’s (Abu Dhabi National Oil Company) subsidiary, XRG, including the International Energy Investment Company, ADQ (Abu Dhabi Development Holding Company), and global investment firm Carlyle, has submitted a non-binding indicative proposal to acquire global energy company Santos at a cash offer of $5.76 per share, valuing the deal at $19 billion. According to a statement released by Santos, the proposal followed two confidential, non-binding and indicative proposals from the XRG Consortium to acquire 100% of Santos Shares on 21 March 2025 for $5.04 in cash per share and on 28 March 2025, for $5.42 in cash…

Sitting down with MEES in London on 3 June, Iraq’s oil minister Hayan Abdulghani sounded conciliatory about the dispute that has kept the oil export pipeline to Turkey shut for more than two years. “Talks are ongoing with our brothers in the region and the key element behind the [Federal budget’s] amendment is sustaining production from Kurdistan,” he said. Kurdish crude oil output collapsed from 450,000 b/d in March 2023 when the Iraq-Turkey Pipeline (ITP) was closed. The pipeline remains shut, with talks on a re-opening having stalled, although production has increased to more than 250,000 b/d as IOCs have…

Misr Fertilizers Production Company (MOPCO) is set to begin implementing an intensive maintenance plan for its factories until operating conditions stabilize. The company announced in a disclosure to the Egyptian Exchange (EGX) that the decision is a result of the repercussions of the conflict in the Middle East and its impact on the natural gas supply to factories. In a separate disclosure to the EGX, Abu Qir Fertilizers and Chemical Industries Company (ABUK) also announced that it will commence an intensive, round-the-clock maintenance plan for the company’s factories, reflecting a broader industry response to the current regional and supply challenges.…

Minister of Petroleum and Mineral Resources Karim Badawi, accompanied by a delegation of petroleum sector leaders, visited the Petroshahd site in the Western Desert to follow up on the production operations and current drilling activities in the company’s concession areas. Petroshahd is a joint venture between the Egyptian General Petroleum Corporation (EGPC) and Chile’s ENAP Sipetrol. Company officials reviewed the targeted drilling program aimed at boosting production from 9,500 barrels per day (bbl/d) to 11,000 bbl/d by the end of 2025, in line with the ongoing development plan. Badawi discussed the planned timeline for starting operations in the West Amer…

Saudi Arabia’s refining sector activity has been accelerating sharply since March according to the kingdom’s latest Industrial Production Index (IPI) figures. This comes amid a marked increase in refining margins, and should enable Saudi Arabia to cash in on the strong prices. The latest IPI figures from the Saudi statistics agency show that the IPI for the “Manufacture of coke and refined petroleum products” increased from 97.4 in January to 116.6 in March and 123.5 in April. Any figure above 100 represents an increase against 2021 levels, and the April figure is the highest since at least January 2023 –…

The General Petroleum Company (GPC) successfully made a new oil discovery, GPR-1X, in the maturing Abu Sennan concession at the Western Desert. Initial tests show promising production rates of 1,400 barrels of crude oil per day (bbl/d) and approximately 1 million cubic feet of gas per day (mmcf/d) from the Bahariya formation, in addition to adding 2 million recoverable barrels to the reserves. GPC Chairman, Mohamed Abdel Mageed, confirmed that the well is currently being tested at the production facility. Abdel Mageed further noted the presence of promising hydrocarbon indicators in the Abu Rawash G and B formations, according to…

Minister of Petroleum and Mineral resources, Karim Badawi conducted a field visit at Alexandria Port to oversee the preparations plan for the US regasification unit Energos Power to be docked at Ain Sokhna Port. This comes as part of ongoing field follow-ups and intensified preparations by the Ministry of Petroleum and Mineral Resources to ensure full readiness of the petroleum sector’s infrastructure to meet the rising demand for natural gas, especially from power stations and critical sectors during the summer months. During the visit, Minister Badawi reviewed the progress of technical work and necessary modifications on the vessel, which had…

Adnoc Logistics and Shipping (Adnoc L&S) and Abu Dhabi petrochemicals firm Borouge announced on 11 June a $531mn 15-year agreement in which the logistics firm will manage the petrochemical firm’s export operations. According to Adnoc L&S it will take on the port management, container handling, and provide at least two container ships to support the transfer of petrochemicals from the Borouge Container Terminal at Ruwais to Jebel Ali in Dubai and Khalifa Port in Abu Dhabi (see map p7). The firm says it will manage up to 70% of Borouge’s annual production, which currently sits above its 5mn t/y nameplate…