Author: Rigs & Barge World
Hope to see you at our event in October. 27/08/2024 The Norwegian Offshore Directorate invites interested parties to a seminar and panel debate on fracturing and stimulating reservoirs with low permeable zones on Tuesday, 1 October 2024 in our offices. The Ministry of Energy, the Norwegian Offshore Directorate, licensees, suppliers and technology companies will give presentations. The objective of this event is to highlight challenges and opportunities linked to fracturing and stimulating low permeable reservoirs. We encourage all parties to share expertise and experience, and we look forward to good and interesting professional…
*Egypt has been left comparatively unscathed by US President Donald Trump’s new tariffs, for now. A 10% tariff on imports from Egypt is relatively mild compared to many fellow Mena countries with Syria facing a 41% tariff, Iraq a 39% tariff and Libya a 31% tariff. *Financial market analysts BMI forecast in a 3 April note that “the US tariff announcement made on April 2 will create a significant negative economic shock to economies across MENA.” The immediate fallout saw the Egyptian pound slip further against the dollar, dropping from $1=E£50.6 for March, passing the E£51 mark following Trump’s 2…
The first South Pars Gas Refinery achieved strong operational performance during the Iranian year 1403 (March 2024 – March 2025), producing over 10 billion cubic meters (bcm) of sweetened gas, according to a report by SHANA. Ali Ahmadi, the refinery’s director, stated that this output exceeded its production target by 5% and represented a 9% increase compared to the previous year (1402/2023–24). Ahmadi emphasized that despite operational challenges, South Pars refineries exceeded their commitments and played a vital role in strengthening Iran’s economy. In addition to sweetened gas, the refinery also produced over 7.26 million barrels of gas condensates, more…
ON stage to receive the award; Sindre Sørensen (VP Exploration and Reservoir Development, Valhall, Aker BP), Ole Johan Molvig (Director Valhall Area, Aker BP) and Jan Cristian Ellefsen, CEO, Pandion. At the top of the picture is Torgeir Stordal, Director general at the Norwegian Offshore Directorate. 27/08/2024 This year’s Improved Recovery Award goes to the licensees on the Valhall and Hod fields in the North Sea. These fields have produced almost four times more oil and gas than the estimates in the development plans . The prize goes to Aker BP and Pandion Energy.…
Egypt’s Fuel Automatic Pricing Committee has announced an increase in fuel prices for Q2 2025, according to an official statement. The new prices will take effect on April 11, 2025, with a reassessment scheduled for six months from now. The adjusted fuel prices are as follows: 95 Octane Gasoline: 19 EGP per liter 92 Octane Gasoline: 17.25 EGP per liter 80 Octane Gasoline: 15.75 EGP per liter Diesel: 15.50 EGP per liter Kerosene: 15.50 EGP per liter Mazut (for other industries): 10500 EGP per ton. Butane gas: 200 EGP per 12.5 kg cylinder and 400 EGP per 25 kg cylinder.…
As Egypt’s gas output continues to dwindle, the country is becoming increasingly dependent on gas imports to ensure continued supplies to power plants and petrochemicals facilities, with the era of net-LNG exports firmly ending. Already reliant on around 1bn cfd of pipeline gas imports from Israel, Egypt imported 1.1mn tons of LNG in the low-demand Q1 period according to Kpler, putting it well on course to smash last year’s seven-year high 2.5mn tons. Since July last year Egypt’s gas deficit (output minus demand) has averaged 1.7bn cfd, peaking at 1.85bn cfd in August during the summer peak electricity demand season…
In light of what has been announced regarding the new prices for petroleum products, effective from Friday, April 11, 2025, at six o’clock in the morning. It is worth noting that despite the recent price increases in petroleum products, the price gap between the cost and the selling price still exists due to the significant increase in costs, which these increases have not yet absorbed, the Ministry of Petroleum and Mineral Resources (MoPMR) said in an official statement. While the state is keen on considering the social dimension and alleviating burdens on citizens, it directs the largest portion of subsidies…
Har du lyst til å være med å påvirke hvordan Sokkeldirektoratet er med å maksimere verdien av ressursene på sokkelen? Vil du ha tilgang til, og jobbe med Norges største undergrunns datasett for å forstå det store bildet? Source link
ADES Holding Company announced that it renewed the contract for one of its standard offshore jackup rigs. It was one of six suspended rigs that had been operating in the Kingdom of Saudi Arabia. Expected to enhance long-term revenue visibility and ensure backlog sustainability, the contract has been extended for a solid 10-year term. The standard jackup rig is currently fulfilling a medium-term contract in Egypt. The renewal stands as a testament to ADES’ strong and long-standing relationship with its client, further reinforcing the Group’s outlook for its operations in Saudi Arabia. Commenting on the renewal, Mohamed Farouk, CEO of…
04/09/2024 The Ministry of Energy has received applications from six companies in connection with the announcement of an area in the North Sea for potential storage of CO2 on the Norwegian shelf. The department is processing incoming applications and aims to award exploration licences in the second half of 2024. The Ministry of Energy has been contacted by commercial players who are interested in securing the award of specific acreage for CO2 storage. This acreage, located in the North Sea, was announced on 6 June, pursuant to the CO2 Storage Regulations. As of…