Author: Rigs & Barge World

Egypt and the Emirate of Fujairah signed an agreement on Thursday to establish an Egyptian shareholding company responsible for developing a logistics zone in the Mediterranean basin at El-Alamein. The project aims to store and trade petroleum products in the Mediterranean, and involves upgrading and expanding El-Hamra Port in cooperation with the Fujairah Oil and Gas Corporation. The agreement was signed during Minister of Petroleum and Mineral Resources Karim Badawi’s visit to the UAE, where he met with Hamad Bin Mohammed Al Sharqi, Ruler of Fujairah and Supreme Council Member, to discuss opportunities for cooperation and expanding investments in the…

Ganoub El Wadi Petroleum Holding Company (GANOPE) conducted a field tour in the Gulf of Suez and the Eastern Desert for senior officials from its subsidiaries following directives from Karim Badawi, Minister of Petroleum and Mineral Resources, to monitor safety, exploration, and production activities. The two-day tour, organized by Ashraf Bahaa El-Din, the company’s chairman, included the participation of GANOPE’s vice presidents and assistants for agreements, exploration and production, and occupational health and safety, as well as company heads, exploration managers, and operations and projects managers. On the first day, the delegation visited the fields of Petrogulf, a joint venture…

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Media release: ATO confirms gas companies are among nation’s largest corporate taxpayers | Australian Energy Producers Skip to content Source link

Perenco North Sinai Petroleum, a subsidiary of Egypt Kuwait Holding (EKH), has signed a new agreement with the Ministry of Petroleum and Mineral Resources (MoMPR) to extend its rights over the North Sinai Offshore concession. The 10-year reassignment, effective until 2035, commits the company to drilling three exploratory oil and gas wells in the concession area. The deal was announced during Petroleum Minister Karim Badawi’s visit to the company’s onshore and offshore facilities in North Sinai in September. The reassignment is expected to open new opportunities for exploration and reserve development in line with Egypt’s strategy to boost output and…

TotalEnergies, a multinational integrated energy and petroleum company, has reached an agreement to sell its interests in the West Ekofisk, Albuskjell, and Tommeliten Gamma fields offshore Norway. The deal is to be completed in Q4 2025, the company said. The announcement follows remarks by Chairman and CEO Patrick Pouyanné, who referred to the sale as a “small divestment of a mature asset in Norway”. The transaction supports the company’s goal to generate $3.5 billion from divestments by year-end, which will help balance more than $3 billion in acquisitions that doubled the company’s debt during the first half (H1) of 2025.…

Media release: ACCC report highlights urgent need for enduring gas market reforms | Australian Energy Producers Skip to content Source link

In a disclosure to the stock exchange, The Egyptian Chemical Industries Company (KIMA), a state-owned listed fertilizer producer, has highlighted the progress achieved in its Kima3-ANNA project to establish a new nitric acid production unit with a capacity of 600 tons per day. It also boasted the developments in its environment-friendly ammonium nitrate unit, which has a capacity of 800 tons per day and “represents a qualitative addition to supporting the national economy and enhancing environmental compliance,” noted the disclosure. During the year, the company rehabilitated the ferrosilicon plant, which had been suspended since March 2019. The development included converting…

Minister of Petroleum and Mineral Resources, Karim Badawi, has met with Iman Hill, Country Manager of Vaalco Energy in Egypt, to discuss the US-based company’s plans to expand its operations in Egypt and to utilize renewable energy sources at its operational sites in the Eastern Desert by connecting its production facilities to these sources, according to press release issued by the Ministry of Petroleum and Mineral Resources (MoPMR). For her part, Hill expressed her appreciation for the significant support provided by the MoPMR. She stressed that the regular payment of arrears encouraged the company to intensify its work in the…

The Egyptian General Petroleum Corporation (EGPC) and the Egyptian Commercial Service (ECS) are forming a joint action plan aimed at increasing the export of petroleum products and attracting new investments in research and exploration. This came during a meeting between Salah Abdel Kerim, Chairman of EGPC, and Abdel Aziz Elsherif, First Under-Secretary of State at the Ministry of Investments and Foreign Trade and Head of ECS. During the meeting, the two officials agreed to form a joint working team to study export and investment opportunities, gain an understanding of foreign markets, and prepare a joint executive program. Abdel Kerim expressed…