Author: Rigs & Barge World
The Egyptian Drilling Company (EDC) has been awarded a new contract to operate a 1,500-horsepower (HP) onshore drilling rig for the Kuwait Oil Company (KOC), marking the first time an Egyptian company secures a drilling mandate of this scale with the Kuwaiti giant. Operations are scheduled to start in 20207. The contract represents a strategic milestone in EDC’s expansion plan within the Gulf market, according to a statement by the Ministry of Petroleum and Mineral Resources (MoPMR). The move aligns with the MoPMR’s broader strategy to bolster the presence of Egyptian national service companies in international markets. EDC has maintained…
Nile Petroleum Company, a state-owned firm primarily focused on marketing, distributing, and retailing petroleum products nationwide, has added five new fueling stations, bringing its local network to 81. It also upgraded nine stations and reported increased sales of high-quality 95-octane gasoline. This was announced during the company’s General Assembly held at the Egyptian General Petroleum Corporation (EGPC) headquarters. At the meeting, Chairman Ibrahim Mowafi outlined developments in 2025, including upgrades at the Nile depot in the Assiut Petroleum Geographical Area, expanded transport capacities, and enhancements to the high-performance lubricants production system (5W-40). Nile Petroleum also grew its lubricants sales…
Years of back and forth have failed to produce an agreement between Cyprus and Israel on how much of the 3.5tcf Aphrodite field lies in Israeli waters, a hurdle towards developing the field that was discovered more than 14 years ago. A deal now appears closer than ever after a delegation from Israel’s ministries of energy and finance visited Cyprus on 21-22 January. “Within the framework of these agreements, the development of the reservoir will be carried out by the rights holders on the Cypriot side, while the holders of the Ishai lease [the name of the field on the…
Media release: Queensland gas exploration approvals boost supply and investment confidence | Australian Energy Producers Skip to content Source link
U.S. oil major Chevron is pressing Iraq to improve returns on the giant West Qurna 2 oilfield as a condition for acquiring the project from Russia’s Lukoil, Reuters reported citing three sources familiar with the matter. Earlier this month, Iraq nationalized the field after U.S. sanctions imposed on Lukoil over Russia’s war in Ukraine made it difficult for the company to operate its international assets, including West Qurna 2. Lukoil has until February 28 to divest the asset under the sanction’s regime. West Qurna 2 is one of the world’s largest oilfields, accounting for about 0.5% of global oil supply…
Libya’s NOC announced on 16 January that Eni and BP have started drilling the country’s much-anticipated first deepwater exploration well, a milestone in Libyan efforts to expand offshore exploration and develop significant untapped hydrocarbon resources. Eni and BP had stated in early December that they were gearing up to drill the well (MEES, 12 December 2025), and the start of drilling is the latest sign of renewed international interest in the country’s upstream sector. Several international partners have resumed drilling activity in the country over the past two years (MEES, 27 September 2024). (CONTINUED – 1402 WORDS) Read this article…
On the sidelines of Baker Hughes annual meeting, held in Florence, Italy, under the theme “The Energy Equation”, Minister of Petroleum and Mineral Resources, Karim Badawi, met Baker Hughes CEO Lorenzo Simonelli to accelerate cooperation across new and existing energy sectors. The talks focused on fast-tracking previously agreed areas of collaboration following the completion of ongoing technical studies. Progress was reviewed on natural gas storage projects with the Egyptian Natural Gas Holding Company (EGAS) and geothermal energy development with South Valley Egyptian Petroleum Holding Company (Ganope). For the first time, the two sides discussed cooperation in the mining sector, outlining…
On the sidelines of Baker Hughes Annual Meeting 2026 held in Florence, Italy, the Minister of Petroleum and Mineral Resources, Karim Badawi, met with Alessandro Puliti, CEO of Saipem, a leading Italian company specialized in offshore energy engineering and drilling activities, to discuss opportunities to expand the company’s activities in Egypt. The Minister praised the strategic partnership with Saipem, commending its long-standing track record in Egypt, particularly in the development of Zohr and Burullus fields. The two sides also reviewed the preparation for West Delta Deep Marine (WDDM) Phase 12 gas development and production project, as well as the company’s…
The restart of Kurdish exports last year was a major development, but the impact on global balances will remain negligible in 2026. Source link
ADNOC and Abu Dhabi National Energy Company (TAQA) have signed a 27-year Utilities Purchase Agreement (UPA) to provide critical infrastructure and services to the TA’ZIZ Industrial Chemicals Zone in Ruwais Industrial City in Abu Dhabi, according to a press release by ADNOC. UPA is a long-term commercial contract under which an industrial operator or project developer agrees to buy essential utilities from a designated supplier under predefined terms. Under the long-term commercial contract, ADNOC and TAQA will jointly develop a central utilities project to support TA’ZIZ’s chemicals and transition-fuels facilities. The scope of the agreement covers both the construction phase…