Author: Rigs & Barge World
Libya’s NOC has published a list of the companies that have qualified to participate in its current bid round for hydrocarbons exploration and development (MEES, 14 March). Out of 43 companies and one consortium to have expressed interest in the first phase of the bid round, NOC says 37 have qualified after meeting the requirements: 29 as operators and 8 as investors (see table). (CONTINUED – 1274 WORDS) Read this article for free Gain access to over 60-years of energy analysis and news Delve into the details backed by data Exclusive information from high-level officials Assess future risks and opportunities…
Abdulaziz bin Salman, Saudi Arabia’s Minister of Energy, signed a memorandum of understanding (MoU) with Mohammad Al-Bashir, Syria’s Minister of Energy, to expand energy cooperation between the two countries. The MoU covers the fields of petroleum, gas, petrochemicals, electricity, power interconnection, and renewable energy. The signing was followed by a meeting where the two parties explored bilateral cooperation opportunities in various energy sectors. During the meeting, the two parties exchanged views on developing projects, policies, and regulations in the energy sector, with the shared aim of supporting Syria’s development. It is worth mentioning that Saudi–Syrian energy cooperation has been undergoing…
Algerian state firm Sonatrach this week signed separate deals with Italy’s Eni, France’s TotalEnergies, and China’s Sinopec for hydrocarbons development. On 24 July, Sonatrach officially signed a Production Sharing Contract (PSC) with Total and QatarEnergy (24.5% each) for the Ahara perimeter, which was awarded to the consortium when Algeria held a successful hydrocarbons bid round in June (MEES, 20 June). (CONTINUED – 303 WORDS) Read this article for free Gain access to over 60-years of energy analysis and news Delve into the details backed by data Exclusive information from high-level officials Assess future risks and opportunities Source link
Karim Badawi, the Minister of Petroleum and Mineral Resources, met with a high-level Shell Global delegation to discuss the latest developments in Shell’s natural gas investments in Egypt, particularly in the West Delta Deep Marine (WDDM) concession area. The meeting followed up on the results of Phases 10 and 11 of the gas production project, with the commencement of initial production from Phase 11. Both parties also discussed expansion plans, including the launch of new production phases in the region and the exploration of further promising natural gas potential. The meeting was attended by Cederic Cremers, Executive Vice President of…
SLB, the global energy technology company, launched the new technology “OnWave” which is an autonomous logging platform which enables operation efficiency through providing more efficient and reliable evaluation measurements of a well’s formation at any condition. The company said in a statement that this technology ‘is the first of its kind’ and it works without a wireline unit, and wireline cable, which are normally needed to lower tools into wells for data collection, maintenance, and intervention during oil and gas operations. Interestingly, the new platform takes less half the time to deploy than the conventional wireline platforms. This new technology…
Markets have held steady so far this year despite fears of oversupply after the Opec+ ‘Group of Eight’ agreed in April to start the gradual tapering of 2.2mn b/d of output. Oil prices have been rangebound even as Opec+ has been increasing supplies, to be followed by a further 548,000 b/d in August before a final 547,000 b/d in September (MEES, 11 July). The reason? Some of that production has already made its way to the market from producers exceeding their quotas while global demand has been stronger than expected despite uncertainties arising from threatened US tariffs on some of…
Halliburton, a leading global provider of oilfield services and technologies, launched the LOGIX™ automated geosteering system, a component of its broader LOGIX™ automation and remote operations portfolio. A geosteering system is a technology that uses during drilling to steer the wellbore in real time, ensuring it stays within the most productive part of the reservoir. The service continuously updates geological models in real time, allowing for dynamic optimization of well trajectories. Using advanced algorithms and machine learning, it delivers consistent and objective geological interpretations, enabling operators to make faster, data-driven decisions with greater accuracy. This is not the first technology…
An unbinding framework agreement was signed in the Chinese capital, Beijing, between the Red Sea National Petrochemicals Company and the China National Chemical Engineering Company (CNCEC), for the implementation of the Red Sea Petrochemical Project in the Suez Canal Economic Zone (SCZONE). The agreement was signed at the CNCEC headquarters in the presence of a high-level delegation from both the Egyptian and Chinese sides. It underscores the strategic importance of the project—one of Egypt’s most prominent future projects in the chemical industries sector, according to a press release by the Ministry of Petroleum and Mineral Resources. During his speech, Ibrahim…
A team of executives representing US companies, including Baker Hughes and Hunt Energy, travelled to Damascus earlier this month with the ai… Source link
Baker Hughes, the global oil and gas innovations supplier, is about to acquire Chart Industries, a U.S-based industrial manufacturing company working in gas-handling systems, through a deal worth $13.6 billion, Reuters reported. Sources said the transaction is expected to be announced in the coming days, though they noted that the agreement is not yet final. They added that the potential deal would replace the $19 billion all-stock merger Chart Industries agreed to with Flowserve in June. According to the Financial Times, Baker Hughes’ interest in acquiring Chart Industries prompted the company’s board to reconsider its merger agreement with Flowserve. Source…