Author: Rigs & Barge World
Oman’s energy ministry has announced a new bid round comprising five exploration blocks as part of its renewed push to attract international investment in its upstream. Four of the blocks were created by splitting up two larger blocks relinquished by IOCs. The first block to have been broken up is Block 12, which was relinquished by TotalEnergies (80%op) and Thailand’s state firm PTTEP (20%) last year (MEES, 13 June 2025). The block has been split in two, with the southern portion now known as Block 16 (see map). Likewise, Block 42 has also been divided in two after Shell (50%op)…
The General Authority for the Suez Canal Economic Zone (SCZONE), in collaboration with the United Nations Industrial Development Organization (UNIDO), announced the launch of Egypt’s National Clean Hydrogen Program. This initiative is designed to advance Egypt’s transition toward a competitive, low-carbon economy anchored by green hydrogen production and export. The program will facilitate activities designed to enhance Egypt’s readiness for green hydrogen investments. These activities include conducting pre-feasibility and feasibility studies for priority projects, providing technical advisory for policy development, and strengthening institutional capacities. Furthermore, the program will support the establishment of a Green Hydrogen Center of Excellence at the…
On 13 April, Omani upstream firm Masar Petroleum (previously Hydrocarbon Finder) announced a “landmark” discovery in Block 7 (see map). According to the firm a successful exploration well has validated “the concept of the Hasriah Ridge, a geological trend 5km wide and 30km long mapped across Block 7.” It says the Ridge has a prospective resource base of 100-380mn barrels and it expects to begin producing from the discovery by year end, setting the stage for rapid development by the end of 2028. A 3D seismic campaign is planned alongside further exploration and appraisal work. Production from the block averaged…
Badr Eldin Petroleum Company (Bapetco), a joint venture (JV) between Shell and the Egyptian General Petroleum Corporation (EGPC), have implemented an updated drilling system and well design in BED 16-33 well in Westen Desert, reducing costs by nearly $500,000 and drilling time by about 10 days, according to a statement by the Ministry of Petroleum and Mineral Resources (MoPMR). In cooperation with EGPC, this achievement was driven by implementing an integrated engineering strategy aimed at enhancing operational efficiency, increasing penetration rates through utilizing advanced drill bits, alongside deploying real-time monitoring techniques and advanced data analysis. This comes in line with…
The Board of Directors of the Egyptian General Petroleum Corporation (EGPC) held a meeting to review measures for accelerating production and securing domestic energy supplies. During the meeting, conducted via Video conference, both EGPC CEO Salah Abdel Kerim and the Deputy CEO for Financial and Economic Affairs, Amal Tantawi, presented initiatives aimed at attracting new investments to the Gulf of Suez, the Mediterranean, and the Western Desert to increase petroleum and natural gas production. Chaired by Karim Badawi, Minister of Petroleum and Mineral Resources,the meeting was held with the participation of Manal Awad, Minister of Local Development; Mohamed Farid, Minister…
Saudi Arabia announced on 12 April the completion of repairs on the vital 7mn b/d East-West crude oil pipeline to Yanbu, enabling it to again operate at full capacity. The repairs were on a pumping station damaged by an Iranian attack on 8 April (MEES, 10 April). The attack on one of the 1,200km pipeline system’s 11 pumping stations caused throughput capacity to drop by 700,000 b/d. The pipeline brings crude oil from Aramco’s fields in Eastern Province to the port of Yanbu on the Red Sea coast for onwards export and refining. With the Strait of Hormuz closed due…
Oilfield services giant Halliburton recorded a net income of $461 million, or $0.55 per diluted share, for the first quarter (Q1) of 2026, more than doubling the $204 million reported in Q1 2025, the company announced on April 21, 2026. Total revenue for the quarter remained flat year-on-year (YoY) at $5.4 billion, while operating income reached $679 million with a 13% operating margin. The company’s production revenues slipped 3% to $3.0 billion, with operating income down 17% to $439 million, reflecting weaker stimulation activity in North America and reduced tool sales in the Middle East. However, gains in Africa and…
The US-Iran conflict entered a new phase after Washington imposed a maritime blockade on Iran from 13 April (MEES, 17 April). The move is intended to pressure Iran – both directly and via China, the dominant buyer of Iranian oil – into making concessions when negotiations resume (MEES, 17 April). The blockade, if successful in choking off Iranian exports, would test the resilience of Iran’s oil sector, which has until now been largely unaffected by the conflict. While the Arab Gulf states have been unable to export through the Strait of Hormuz, Iran continued to export crude and condensates unimpeded.…
Karim Badawi, Minister of Petroleum and Mineral Resources, met with Diego Portoghese, Italy’s Eni’s Head of North Africa and Levant Region, to review the company’s exploration and production activities in Egypt and explore avenues for strengthening bilateral cooperation, according to a statement by the Ministry. During the meeting, Badawi commended the progress observed during his recent visit to the Meleiha fields in the Western Desert, in which Eni is a primary partner in the exploration, development, and production of hydrocarbons within the Meleiha concession. Badawi further praised the progress in the ongoing intensive operations in Abu Madi field in the…
Karim Badawi, Minister of Petroleum and Mineral Resources, met with Greg McDaniel, Senior Vice President of International Assets and General Manager of Apache Egypt, to discuss ways to enhance cooperation and follow up on the progress of operations at the company’s production sites, focusing on improving operational efficiency and developing work mechanisms in concession areas. During the meeting, Badawi praised the efforts he observed during his recent visit to the Western Desert sites, emphasizing the significance of supporting employees as the fundamental pillar for sustaining production operations around the clock. He also commended the efficiency and professionalism of the work…