Author: Rigs & Barge World
Through a consortium, Eni and QatarEnergy have won the offshore exploration License O1 as part of Libya’s National Oil Corporation (NOC) 2025 competitive bid round, further consolidating their upstream footprint in the country. The offshore block spans around 29,000 square kilometers (km2) and is located in the marine extension of the prolific Sirte Oil and Gas Basin. The area is considered highly prospective, with significant zones still lacking 3D seismic data and the potential for additional hydrocarbon discoveries. Existing indications within the block include previously identified, but undeveloped, oil and gas finds. Under the agreement, Eni will act as operator…
Through Malaysia Petroleum Management (MPM), Petronas has officially launched the Malaysia Bid Round 2026 (MBR 2026) under the theme “Advantaged Energy: Accelerating and Shaping Tomorrow,” as part of efforts to reinforce Malaysia’s standing as a leading destination for upstream investment. The 2026 bid round features nine exploration blocks across the country, offering a diverse portfolio of opportunities. These include a high-impact frontier block in the Sandakan Basin, promising acreage in the emerging West Sarawak Basin, and near-field exploration blocks in the mature Malay Basin supported by new play concepts. The offering is designed to attract investors seeking a mix of…
Media release: Australian oil and gas sector congratulates Opposition Leader Angus Taylor | Australian Energy Producers Skip to content Source link
United Energy Egypt (UEE) has signed a cooperation protocol with Misr El Kheir Foundation to support healthcare services and launch the UEE Technical and Vocational Education Center in Ras Gharib, as part of its commitment to advancing sustainable development and empowering local communities The cooperation includes the development of the blood bank, emergency unit, and radiology unit at Ras Gharib Central Hospital, aiming to enhance the quality and efficiency of healthcare services provided to citizens. Furthermore, the partnership includes the launch of the United Energy Vocational & Technical Training Center, a dedicated facility designed to provide young people with hands-on…
Karim Badawi, Minister of Petroleum and Mineral Resources, has met with a high-level delegation from Italy’s Eni, including Diego Portuguese, Head of North Africa and Levant region, to discuss ongoing operations in Egypt, especially the project to tie in Cyprus’ Cronos gas field to Egyptian gas and liquefaction facilities. The government is prioritizing the development of an attractive business model with investment incentives aimed at doubling crude oil production, Badawi noted. He stressed the importance of adopting non-traditional work approaches and utilizing modern technologies to achieve a significant boost in production rates. Badawi praised the level of cooperation with the…
Shell Egypt has announced the commencement of its 2026 Mediterranean drilling campaign following the arrival of the Stena IceMAX drillship. Operated by Stena Drilling, the vessel will execute a multi-well program, starting with the Mina West development wells and the Sirius exploration prospect, followed by the Velox exploration well. “This is a crucial operational milestone for Shell in Egypt and for the country’s energy sector. The arrival of Stena IceMAX enables the next phase of our drilling campaign in the Mediterranean, supporting the advancement of Mina West and our wider exploration portfolio. These activities align with Egypt’s strategic ambitions as…
Kuwait is making headway in revamping its oil sector that has fallen behind its neighbors in recent years. Long-standing targets for 2020 were missed and crude oil production capacity declined between 2016 and 2021. Much of this was due to opposition in some political quarters to foreign investment, while large-scale capital projects were frequently cancelled amid heightened political scrutiny and frequent squabbles between a succession of governments and parliament. Since his appointment in 2022, KPC CEO Sheikh Nawaf Al Sabah has sought to address these issues. As a result, capacity increased gradually from around 2.7mn b/d in 2021 to 3.0-3.2mn…
Four petroleum sector companies have successfully made discoveries in the Western Desert, yielding a total estimated production of over 5,200 barrels per day (bbl/d) of crude oil and condensates, alongside approximately 34 million cubic feet per day (mmcf/d) of natural gas. In line with the production increase pillar of the Ministry of Petroleum and Mineral Resources (MoPMR )’s strategy, these results come as part of the Ministry’s efforts to offset the natural decline in older wells, reduce the import bill, and boost domestic production to meet the needs of consuming sectors. Khalda Petroleum has successfully achieved two new gas discoveries.…
Karim Badawi, Minister of Petroleum and Mineral Resources, presented the latest reforms, incentives, and opportunities within the petroleum and mining sectors during a roundtable meeting with a group of International financial institutions and investment banks, including JPMorgan, EIG, Rothschild & Co., BlackRock, Jefferies, and Kirkland & Alice. The meeting, which took place on February 10, was also attended by Ahmed Kouchouk, Minister of Finance, and Hassan El-Khatib, Former Minister of Investment and Foreign Trade According to the Ministry of Petroleum and Mineral Resources (MoPMR), the meeting seeks to open new channels with financial institutions to secure funding for faster project…
Chevron put its East Mediterranean ambitions front and center of its Q4 earnings call last week, with its leadership seeing a big year ahead for the region. “We continue to be very excited about the resource potential in the Eastern Mediterranean,” CEO Mike Wirth told investors on his firm’s Q4 earnings call on 30 January. He added that Chevron’s “advantaged assets in the Eastern Mediterranean continue to grow, and we’re advancing multiple high-return projects to bring world-class gas resources to regional markets.” (CONTINUED – 1346 WORDS) Read this article for free Gain access to over 60-years of energy analysis and…