Author: Rigs & Barge World
Eni, the Italian oil giant, has signed an exclusivity agreement with Global Infrastructure Partners (GIP), a leading global infrastructure investor. According to the agreement, Eni will be negotiating only with GIP-excluding all other competitors, on the sale of the 49.9 per cent Eni holds in Eni CCUS Holding – a leading European player in the CCUS sector (Carbon Capture, Utilization and Storage). The agreement aims to progress the confirmatory due diligence phase and complete the drafting of the documents related to the sale. Eni CCUS Holding operates Hynet and Bacton in the UK and L10 in the Netherlands. Eni stated…
Media release: Australia’s oil and gas industry welcomes Sussan Ley’s new Shadow Cabinet | Australian Energy Producers Skip to content Source link
The Minister of Petroleum and Mineral Resources Karim Badawi has inagurated an integrated operations center for TAQA, an international company focused on Energy solutions, in Egypt. This center serves as a major hub for managing the company’s activities in Egypt and is also considered a launching point for its operations in Africa, according to a statement issued by the Ministry of Petroleum and Mineral Resources on Tuesday. Through this project, TAQA is capitalizing on Egypt’s promising opportunities, logistical advantages, advanced infrastructure, and distinguished geographical location”, noted the statement. Badawi welcomed the presence of TAQA in the Egyptian energy sector, noting…
The Kurdistan Regional Government (KRG) has awarded two gas licenses to US-owned companies in a bid to revive momentum in its upstream sector. Speaking on 19 May at a signing ceremony in Washington D.C., Prime Minister Masrour Barzani stressed repeatedly that American companies were awarded the acreage in a clear bid to also firm up political support from the US in its ongoing dispute with Baghdad over the legality of the KRG’s oil and gas contracts. The first of the awards is in the form of a binding term sheet that the KRG signed with US firm HKN and Onex…
Osama Elshenoufy has been appointed as Northeast Africa Director for Weatherford, marking another milestone that reflects his 30 years of experience in driving operational excellence, business development, and fostering partnerships across the oil and gas sector in various organizations as Weatherford & bp. Elshenoufy has cooperated with various international oil companies through managing the company’s deep-water business in the East Mediterranean. He has also worked closely with Egypt’s Ministry of Petroleum, Egyptian General Petroleum Corporation (EGPC), Egyptian Natural Gas Holding Company (EGAS), and other entities. Weatherford, a US-based multinational company operating across 75 countries, delivers cutting-edge energy services and solutions…
The governments of Saudi Arabia and Kuwait have announced a new oil discovery by Wafra Joint Operations (WJO) in the North Wafra Wara-Burgan field, situated five kilometers north of the Wafra field, according to Saudi Press Agency (SPA). The Wara reservoir at the North Wafra (Wara-Burgan-1) well is producing crude oil at a rate of over 500 barrels per day (bbl/d), with an American Petroleum Institute (API) gravity ranging from 26 to 27 degrees. This is the first oil discovery since production operations resumed in the partitioned zone and its adjacent offshore area in mid-2020. The find is considered highly…
The first three months of 2025 have seen some notable developments in Saudi Arabia’s oil sector, with crude exports down sharply year-on-year as the kingdom prioritized higher-value refined products exports. Oil burn is also down sharply too, freeing up volumes for more economically-valuable activities. This sets the scene for what should be an interesting second quarter as Saudi Arabia increases crude oil production for the first time since late-2022 amid the unwinding of deep voluntary Opec+ production cuts. A total of 389,000 b/d is to be added between April and June, and when Opec+ ministers meet on 1 June to…
Minister of Petroleum and Mineral Resources, Karim Badawi, accompanied by leaders from the Ministry and the Egyptian Natural Gas Holding Company (EGAS), witnessed the arrival of a new Floating Storage and Regasification Unit (FSRU) for receiving imported liquefied natural gas (LNG) and converting it back to its gaseous state, in preparation for pumping it into the national natural gas grid. The southern berth at the Tahya Misr station in Alexandria Seaport welcomed the Energos Power FSRU, arriving from Germany. The minister emphasized that the arrival of the new FSRU is part of the ministry’s plan to secure the necessary natural…
Media release: Innovation, Opportunity and Security on the agenda as Australian Energy Producers Conference and Exhibition opens in Brisbane | Australian Energy Producers Skip to content Source link
DNO is Iraqi Kurdistan’s largest foreign operator in terms of output, but it is seeking to diversify from the high-risk region through a pivot to the North Sea. Over the last six years, the Norwegian firm has acquired a substantial portfolio of North Sea assets, while maintaining disciplined spending in Kurdistan. The diversification efforts are now bearing fruit, with net North Sea output up 35% year-on-year to 19,296 boe/d in Q1. This was dwarfed by the firm’s net Kurdistan output of 61,561 boe/d, but DNO expects this dynamic to be turned on its head and for Kurdistan’s share of its…