Author: Rigs & Barge World
Oman and India signed a Comprehensive Economic Partnership Agreement (CEPA) on 18 December during an official two-day visit to Oman by Indian Prime Minister Narendra Modi. The deal offers zero-duty access on 98% of Oman’s export products, and India offered the same on 78% of its products. Bilateral trade between the two countries stands at more than $10bn. India’s ministry of commerce says Indian sectors that will benefit include textiles, clothing, jewellery, plastics, furniture, agricultural products, pharmaceuticals and automobiles. No mention is made of hydrocarbons, where there is little trade outside of around 2.1mn tons of Oman LNG exports this…
Media release: Australian Energy Producers thanks outgoing Chair Meg O’Neill | Australian Energy Producers Skip to content Source link
The Cabinet approved a petroleum concession agreement for the exploration, development, and exploitation in the Integrated Badr El-Din area in the Western Desert. The agreement involves the Egyptian General Petroleum Corporation (EGPC), Cheiron Petroleum, and Capricorn, as part of the state’s plans to enhance development operations and increase production rates and recoverable reserves. According to a statement by the Cabinet, the agreement includes a minimum investment of $208 million and the drilling of around 44 wells. It targets monthly production of 105,000 barrels of oil and 1.2 billion cubic feet of natural gas. The production is expected to save around…
Egypt’s Zohr gas field, where Russia’s Rosneft holds a 30% stake, and bp owns 10%, was added to a list of projects that the UK has exempted from its sanctions on entities with Russian holdings, according to Reuters. Rosneft and Lukoil, Russia’s top oil producers, were sanctioned by Britain and the United States in October over their role in financing Moscow’s invasion of Ukraine. Now, no payments or business operations of Zohr would be sanctioned according to the amendments the UK introduced on December 18 to its general licence for Russia sanctions. A general licence is an official government authorization that permits certain activities…
Media release: New gas supply and investment essential to WA’s long-term energy security | Australian Energy Producers Skip to content Source link
Abu Dhabi National Oil Company (ADNOC) has signed a landmark structured financing transaction of up to $11 billion to monetize future midstream natural gas production from the Hail and Ghasha project in partnership with Eni and PTT Exploration and Production (PTTEP). The development forms part of the broader Ghasha Concession offshore Abu Dhabi and is designed as one of the world’s first offshore natural gas projects of its kind to operate with net-zero emissions, targeting the capture of around 1.5 million tonnes of carbon dioxide per year. The project is expected to produce up to 1.8 billion standard cubic feet…
Egypt and Jordan have renewed the electricity exchange contract for 2026, with the Egyptian Electricity Transmission Company (EETC) representing Egypt and the National Electric Power Company (NEPCO) representing Jordan, according to a statement from Egypt’s Ministry of Electricity and Renewable Energy. The renewed contract comes within the framework of a memorandum of understanding (MoU) between Egypt’s Ministry of Electricity and Renewable Energy and Jordan’s Ministry of Energy and Mineral Resources. Mahmoud Esmat, Minister of Electricity and Renewable Energy, and Saleh Al-Kharabsheh, Jordan’s Minister of Energy and Mineral Resources, witnessed the signing ceremony. Mona Rizk, Chairperson of EETC, and Sufyan Al-Bataineh,…
Libya’s NOC announced on 5 December that Italy’s Eni and partner BP are gearing up to drill the country’s first deepwater exploration well, a significant milestone for Libya’s offshore exploration and the latest sign of renewed international interest in the country’s upstream sector (MEES, 11 July). The announcement came just one day before officials held the first Libya-Africa International Gas Forum in Tripoli on 6 and 7 December. Top sponsors and attendees included existing partners Repsol, Eni, BP, Total, and OMV, all of whom are among 37 international qualified participants for Libya’s current bid round (MEES, 25 July). (CONTINUED -…
Baker Hughes has secured a significant multi-year contract from Kuwait Oil Company (KOC) to deploy advanced artificial lift technologies that will boost production across Kuwait’s oil and natural gas fields, according to a company statement. The agreement reinforces Kuwait’s efforts to enhance recovery from mature reservoirs while improving operational efficiency in its upstream portfolio. Under the contract, Baker Hughes will supply electrical submersible pumps (ESPs), as well as installation, monitoring, and maintenance services. The systems will be integrated with the FusionPro intelligent production drive and the Leucipa automated field production solution to improve reliability, optimize performance, and reduce nonproductive time.…
The deployment of a naval armada on December 16, representing approximately fifteen percent of total United States military assets near Venezuela, marks a transition from diplomatic pressure to active kinetic operations. This massive military presence has severely restricted the options available to President Maduro, who continues to maintain strict control over his nation despite its profound economic challenges. Complementing the naval presence, Venezuelan airspace has remained entirely closed to air traffic since late November.Recent American operations have focused on intercepting drug trafficking vessels, resulting in the reported elimination of over one hundred narco-terrorists through maritime strikes. Furthermore, the United States has…