Author: Rigs & Barge World
The total production of the Sukari gold mine in 2025 came at 500,000 ounces, compared to 481,000 ounces in 2024, driven by higher ore throughput and improved equipment availability. The total cost of production is $783 per ounce, according to a press release by AngloGold Ashanti. AngloGold Ashanti acquired the Sukari gold mine from Centamin on November 22, 2024. In the fourth quarter (Q4) 2025, Sukari produced 119,000 ounces, down 5% from Q4 2024. This decline was partly caused by the processing of lower-grade materials. Integrating Sukari helped the overall production of the AngloGold Africa region to reach 1.75 million ounces…
Mubadala Energy, the Abu Dhabi-based international energy company, finalized the acquisition of a 15% stake in Egypt’s Nargis Offshore Concession from Eni, reinforcing the company’s position in the East Mediterranean and its long-term commitment to Egypt, Mubadala noted in a statement. “This acquisition further reinforces our long‑term commitment to Egypt, expanding our portfolio with a high‑impact growth opportunity alongside world‑class partners in the strategically important East Med region,” Mansoor Mohammed Al Hamed, Managing Director and CEO of Mubadala Energy, commented. The Nargis concession expands Mubadala Energy’s presence in the prolific East Nile Delta Basin. Located roughly 50 km offshore. The…
Adnoc’s international subsidiary XRG and Italian major Eni have signed a deal with state firm YPF for the development of the third-phase 12mn t/y Argentina LNG. The binding Joint Development Agreement (JDA) follows a non-binding agreement signed late last year (MEES, 7 November 2025). The partners will now start Front-End Engineering Design (FEED) and related activities for the two 6mn t/y floating LNG facilities that will process gas from Argentina’s Vaca Muerta shale basin. “This new step marks the formal inclusion of XRG into the project we have been developing together with Eni,” says YPF CEO Horacio Marín. “We will…
IE Week in London has come and gone. Unsurprisingly, the escalation of tensions between the US and Iran — and the risk of kinetic confrontation — dominated discussions (MEES, 13 February). Geopolitics trumped (no pun intended) oil fundamentals as participants peered into the US foreign policy crystal ball. Yet fundamentals were by no means ignored. Despite the start of 2026 being marred by temporary supply outages in the Caspian and the US, the forward outlook for supply and demand in analysts’ spreadsheets worldwide points to a sizeable surplus this year. The broad consensus is that implied stock builds will be…
Drilling Fluid Rheology is one of the most critical properties monitored on an oil and gas drilling rig. It defines how drilling mud flows under different shear rates and directly impacts:· Hole cleaning efficiency· Equivalent Circulating Density (ECD)· Pump pressure· Wellbore stability· Suspension of cuttings and weighting materialsRheology is the study of fluid flow behavior. In drilling operations, drilling mud rehalogy determines:· How easily mud flows through drill pipe and annulus· How well it transports cuttings to surface· How it suspends solids when pumps are offUnlike water, drilling fluids are non-Newtonian fluids, meaning their viscosity changes with shear rateIn short we can say…
In a 17 February decision, the Iraqi government agreed to pursue a settlement with Lukoil at its 480,000 b/d-capacity West Qurna-2 (WQ-2) oilfield. The private Russian company submitted a settlement and assignment proposal last week to transfer its 75% stake to state firm Basrah Oil Company (BOC) and recoup unpaid dues while settling outstanding debts and tax disputes at the giant oil field (MEES, 13 February). The decision did not disclose a settlement figure and was instead a preliminary move that empowers the oil ministry with a legal mandate to begin negotiations. In total Lukoil proposed a sum of less…
US President Donald Trump’s “Board of Peace” has held its first meeting after being officially formed in January (MEES, 23 January). On 19 February, Mr Trump said the US will commit $10bn to reconstruct Gaza, and that nine countries – Kazakhstan, Azerbaijan, UAE, Morocco, Bahrain, Qatar, Saudi Arabia, Uzbekistan, and Kuwait – have contributed more than $7bn. There is also $2bn from the UN and $75mn from FIFA for “soccer-related projects in Gaza.” Indonesia, Morocco, Kazakhstan, Kosovo, and Albania have also signed up to the International Stabilization Force (ISF) meant to act as a peacekeeping force alongside a reconstituted police…
The Middle East Oil Refinery (MIDOR) has officially reached its maximum production capacity following the successful completion of comprehensive maintenance, marking a strategic shift toward Egypt’s energy self-sufficiency goals. Amr Lotfy, Chairman of MIDOR, confirmed that the refinery is currently processing 170,000 barrels per day (bbl/d). During the company’s general assembly to approve the 2025 financial results, chaired by the Minister of Petroleum and Mineral Resources Karim Badawi, Lotfy highlighted several key operational achievements, including the successful restart of production units at 100% capacity, the activation of kerosene treatment operations for the first time, and the continued export of high-quality…
Media release: Gas agreement confirms critical role of gas in Australia’s manufacturing future | Australian Energy Producers Skip to content Source link
Karim Badawi, Minister of Petroleum and Mineral Resources, discussed with representatives of the International Finance Corporation (IFC), the private sector arm of the World Bank, investment and financing opportunities within the domains of petroleum refining, petrochemicals, and value-added industries, as well as the mining sector and the exploitation of mineral ores. This came through a meeting which included Ethiopis Tafara, IFC’s Vice President for Africa, and Cheick-Oumar Sylla, the IFC Regional Director for North Africa and the Horn of Africa They also identified potential avenues of cooperation between the Ministry and the IFC, as a key developmental partner for…