Author: Rigs & Barge World
Buoyed by new political support, Kuwait’s KPC is optimistic that it is firmly on an upwards trajectory. KPC’s CEO sat down with MEES to disc… Source link
Baker Hughes’ financial results showed its revenues reaching $6.9 billion in Q2 2025 compared to $6.459 billion in the previous quarter in 2025 and to $7.526 billion Year-on-Year (YoY). According to the results, the revenues from the Middle East and Asia recorded $1.398 billion in Q2 2025, compared to $1.429 in Q1 2025 and $1.498 YoY. The net income attributable to Baker Hughes recorded $701 million increasing by 74% during Q1 2025 and by 21% YoY, according to the results. Moreover, Baker Hughes revenues from the product line amounted to $3.293 billion increasing by 12% sequentially and 5% YoY. “We…
US independent Occidental (Oxy) has a sizeable portfolio of upstream assets in Oman, but it has struggled to offset declines from aging legacy fields. Net crude output dipped to 56,000 b/d last year, well below its 2015 record of 82,000 b/d, while gas production of 63mn cfd was less than half of 2018’s record 139mn cfd. However, the firm has greatly expanded its position in Oman over the past decade, and is steadily securing gains from some of these new assets. In particular, its output has increased from Block 65 (Oxy 72.86%op, OQEP 27.14%) which it picked up in 2018…
Minister of Petroleum and Mineral Resources Karim Badawi met with ambassadors at the Ministry of Foreign Affairs’ headquarters, where he stressed his full commitment to collaborating with them to attract foreign and expatriate Egyptian investors, as well as open new avenues for Egyptian companies to expand internationally. Badawi reviewed the Ministry’s ongoing efforts to stimulate investment and growth in the petroleum, gas, and mining sectors, enabling diplomats to present an attractive image of Egypt’s investment climate. The Minister also affirmed that the Ministry’s investment stimulation measures have already restored the confidence of investors and halted the decline in production. Badawi…
BG International Limited, an affiliate of Shell plc (Shell), has made a final investment decision to develop the Mina West gas discovery in Egypt’s Mediterranean Sea. Accordingly, Shell (holding 60% stake) will operate the field alongside partner, KUFPEC Egypt Limited (KUFPEC) (holding 40%), working in close collaboration with the Egyptian Natural Gas Holding Company (EGAS). Discovered in October 2023, the Mina West gas field will be developed as a subsea tie-back to the existing West Delta Deep Marine (WDDM) infrastructure, ensuring a reliable energy supply for Egypt’s domestic gas market. “Investing in new production at Mina West expands our industry-leading…
UK major Shell has brought online the first two wells of its three-well Phase 11 West Delta Deep Marine (WDDM) project in Egypt’s offshore Mediterranean in recent weeks. The Siena DE well was brought online on 29 June, the oil ministry announced while the Sparrow West-1 came online on 10 July, with the wells adding 40mn cfd each. “Efforts are now focused on accelerating the development of the third well in this phase, aiming for it to come online by September,” the ministry says. Phase 11 is due to add a total of 130mn cfd to output, the ministry adds,…
TotalEnergies has entered into a strategic partnership with Aspen Technology, a business of Emerson, aimed at deploying advanced digital solutions across its industrial sites. These solutions will help in leveraging the efficiency of real-time data collection leading to improved operational efficiency, reduced energy consumption, and enhanced environmental performance. Within the frame of the partnership, TotalEnergies will apply Emerson’s AspenTech Inmation™ across its industrial sites worldwide. This data will continuously gather and consolidate millions of real-time data points from TotalEnergies’ sites, enabling secure and centralized access to information throughout the organization. “At TotalEnergies, digital technology is a key enabler of our…
During Qatar’s 12-year moratorium (2005-2017) on development of its massive North Field, Doha’s greatest fear was damage to the field’s reserves. It did not want to rush into development that could cause reservoir pressure to drop or increase water cut. During this time, it focused on conducting studies of the field and only carrying out work to maintain output. One of the few projects Qatar carried out was the Plateau Maintenance Project (PMP) which started up in 2014. It involved brownfield work in the North Field and a revamp to onshore facilities aimed at maintaining the 10mn t/y capacity at…
Minister of Petroleum and Mineral Resources Karim Badawi met with William Lin, Executive Vice President of bp Global for Gas and Low-Carbon Energy Affairs, along with other bp officials, to discuss the company’s new plans to invest in the development and production of natural gas in Egypt, particularly following its recent discoveries in the Mediterranean. This year, bp completed drilling activities from two gas discoveries offshore the Mediterranean; El-King-2 and El Fayoum-5. The two exploration wells will be tied into the company’s existing onshore infrastructure as part of the West Nile Delta (WND) Gas Development project. During the meeting, Minister…
President Abdel Fattah Al-Sisi held a meeting with Prime Minister Mostafa Madbouly, and Karim Badawi, Minister of Petroleum and Mineral Resources. The meeting addressed the state’s efforts to secure citizens’ needs for petroleum products and provide natural gas to various state sectors, especially the electricity sector. Discussions also covered updates on exploration activities and added petroleum reserves. During the meeting, Badawi reviewed the main pillars of the ministry’s current operations and activities. The minister reviewed the main results achieved from July 2024 to June 2025, including an increase in added local oil and gas production. He highlighted the petroleum sector’s…