Author: Rigs & Barge World
As part of its ongoing efforts to attract investment in its upstream oil and gas sector, Egypt has announced a new bidding round for the South Fayoum exploration block located in the Western Desert. This initiative, launched through the Egypt Upstream Gateway (EUG), seeks to further promote the country’s abundant exploration opportunities. The South Fayoum block, which operates under the regulatory framework of the Egyptian General Petroleum Corporation (EGPC), is now open for bidding. The block offers existing data and has demonstrated proven hydrocarbon potential. Companies interested in participating are invited to submit their bids. The bidding process is currently…
The Technology Day is popular. This photo is from last year’s arrangement. (Photo: Bente Bergøy/Sodir) 08/04/2025 The Norwegian Offshore Directorate’s Technology Day will be held on 5 June. There are still some slots available! Acquisition of subsurface data, challenging barrels and next generation production systems are three main areas the Offshore Directorate believes are important for the Norwegian continental shelf (NCS) in the years ahead. That’s why we’ll be organising Technology Day on 5 June 2025, for the fourth year running. The following are among the topics on the programme: Equinor’s plans for electric…
Chevron started its seabed survey operations in early summer, adhering to the timetable for the construction of a strategic pipeline that will connect the Aphrodite gas field in the Eastern Mediterranean to Egypt, according to a statement by the government of Cyprus. The Cypriot President, Nikos Christodoulides, met with Chevron CEO Mike Wirth and Clay Neff, President of International Exploration and Production, in Texas, US, to discuss energy developments in the Eastern Mediterranean. The discussion focused on the development of the Aphrodite gas field and its strategic importance for Cyprus. President Christodoulides confirmed the significance of the development and utilization…
*Official stats from Israel’s two refineries for 2024, as well as latest shipping and trade figures from data intelligence firm Kpler, suggest that the country’s oil demand remains well down on recent highs set in 2022. However, with the country having been in a continuous state of war over the 18 months following Hamas’ 7 October 2023 assault, the figures likely do not give the full picture. *National oil demand data, provided alongside the results of the country’s largest refiner, the 197,000 b/d Bazan plant at Haifa, comes with a big proviso: it excludes military use. These stats show the…
01/10/2024 The Norwegian Offshore Directorate believes that new innovations within hydraulic fracturing should lead to the development of more discoveries in tight reservoirs. The Directorate is now challenging the industry to have a go at one of the largest puzzles of them all – the “Victoria” discovery in the Norwegian Sea. The challenge was issued during a seminar at the Norwegian Offshore Directorate’s offices today, 1 October. The presentation of “Victoria” (pdf) “Victoria” was proven by Exxon exploration well 6506/6-1 in the year 2000. Total took over the operatorship six years later, and an appraisal well was drilled…
Minister of Petroleum and Mineral Resources Karim Badawi attended the general assembly meeting of Natural Gas Vehicles Company (Cargas) to review its fiscal year results in 2024, reaffirming the ministry’s full support for the company’s services and praising its partnership with bp. Badawi emphasized the importance of focusing on implementing new fueling stations in 2025 given the growing demand for gas supply services, which will increase economic feasibility and facilitate the process to convert to vehicles to run on natural gas. Cargas has achieved 514 million cubic meters (mcm) of natural gas sales in 2024, reducing liquid fuel consumption and aligning…
Iraq aims to bring its crude distillation capacity to 1.542mn b/d, PM Mohammed al-Sudani said on 30 March. Though he failed to give a specific timeline for achieving this, his comments imply that this is a relatively near-term target. Iraq’s current CDU capacity is level with the end-2024 figure of 1.156mn b/d following 380,000 b/d in additions over 2023-24. With 140,000 b/d in new additions in Saladin and Maysan provinces due online by end-2025 this will leave Iraq around 250,000 b/d shy of the PM’s target (see chart). (CONTINUED – 1047 WORDS) Read this article for free Gain access to…
President Donald Trump announced the impose of several new tariffs to strengthen the international economic position of the US and protect American workers excluding the energy and certain mineral goods that are not available in the country, according to the White House statement. President Trump will impose an individualized reciprocal higher tariff on the countries with which the US has the largest trade deficits. All other countries will continue to be subject to the original 10% tariff baseline, the statement explained. It noted that these tariffs will be effective in April 9, 2025. Additionally, Trump exempted from these tariffs the…
03.10.2024 Sokkeldirektoratet fremlegger med dette forslag til endringer i forskrift om fiskal måling i petroleumsvirksomheten (måleforskriften). Oppdatert: 03.10.2024 Siste nyheter Boreløyve for brønnbane 25/11-30 S 27.03.2025 Sokkeldirektoratet har gitt Equinor Energy AS boreløyve for brønnbane 25/11-30 S i utvinningsløyve 169, jf. ressursforskrifta paragraf 13. Produksjonstal februar 2025 20.03.2025 Førebels produksjonstal i februar 2025 viser ein gjennomsnittleg dagsproduksjon på 1 938 000 fat olje, NGL og kondensat. Boreløyve for brønnbane 9/6-1 18.03.2025 Sokkeldirektoratet har gitt Harbour Energy Norge AS boreløyve for brønnbane 9/6-1 i leiteløyve EXL006,…
The eight OPEC+ countries reaffirmed to start gradual increase in production starting from 1 April 2025 by adding 411,000 barrels per day (bbl/d), equivalent to three monthly increments, in May 2025. The eight countries previously announced additional voluntary adjustments in April and November 2023 reaching to 2.2 million barrels per day (mmbbl/d). According to the OPEC statement, this decision came due to the continuing healthy market fundamentals and the positive market outlook. The statement elaborated that the decision comprises the increment originally planned for May in addition to two monthly increments. The gradual increases may be paused or reversed subject…