Author: Rigs & Barge World

Egypt and the European Union (EU) have signed a grant agreement worth €90 million that will be managed by the European Investment Bank (EIB) to enhance investments in the electricity grid in Egypt and develop renewable energy capabilities. In addition, a separate €35 million grant agreement was signed for Norway’s Scatec to support its green ammonia project in Ain Sokhna, according to the Cabinet’s statement. Signed on February 10 during the Egypt Sustainable Energy Outlook 2040 Conference in Cairo, these agreements underscore the deepening partnership between Egypt and the EU. Rooted in a collaboration established at COP27, this framework accelerates…

Morocco has finally secured a buyer for a 75% operator’s stake in its deepwater Gharb Deep Offshore area, four years after Spain’s Repsol relinquished the asset due to disappointing exploration results (MEES, 5 March 2021). On 22 January, Moroccan state firm ONHYM announced the signing of a deal with Murphy Oil, granting the US independent 10 exploration permits for the 16,989km2 acreage, which combines the ‘Gharb Offshore’ and ‘Rabat Deep’ blocks in Morocco’s offshore ‘Atlantic margin’ (see map). (CONTINUED – 607 WORDS) Read this article for free Gain access to over 60-years of energy analysis and news Delve into the…

The European Union (EU) and the Egyptian Government co-hosted the “Egypt Sustainable Energy Outlook 2040” conference at Cairo’s Manial Palace. Under the theme “Cooperation for Shared Prosperity,” the summit solidified the strategic energy partnership between the two regions, focusing on long-term policy, grid stability, and large-scale green investment. During the opening remarks, Angelina Eichhorst, Head of the EU Delegation to Egypt and the League of Arab States, emphasized that a transition to “homegrown, reliable, and cheaper energy” is the primary defense against global price volatility and supply manipulation. In his speech, Minister of Electricity and Renewable Energy Mahmoud Esmat said…

Media release: Taroom Trough exploration a boost for Qld energy security and regional investment | Australian Energy Producers Skip to content Source link

ADNOC Gas plc posted a record net profit of $5.2 billion (AED 19.10 billion) in 2025, marking a 3% increase from the previous year. This growth was driven by a 4% rise in sales and, according to the company’s press release, “demonstrates resilience despite a 14% year-on-year drop in average Brent crude prices to $69 per barrel.” “2025 represented a pivotal stage in the journey of ADNOC Gas, during which it achieved record profits while simultaneously continuing to invest in growth plans. This strong performance confirms the resilience and scalability of the company’s business, as well as its ongoing significant…

Chevron’s operations in the Saudi-Kuwait Partitioned Neutral Zone (PNZ) stand out as a success story for 2025, with production there growing at the fastest rate since it restarted in 2020. Saudi Arabian Chevron (SAC) represents Saudi Arabia at the onshore portion of the PNZ, holding a 50% stake in Wafra Joint Operations (WJO) alongside Kuwait Gulf Oil Company (KGOC). The US major’s net production from the PNZ had been relatively flat since 2021. Having averaged 56,000 b/d that year it edged up to 60,000 b/d by 2023 and stayed there in 2024. But it returned to growth last year, increasing…

Representatives of the  Egyptian Ministry of Petroleum and Mineral Resources (MoPMR) held talks with Australian and Canadian mining investors to discuss expanding exploration activities in the Eastern Desert. The discussions, taking place during the Investing in African Mining conference (Indaba) in South Africa, focused on streamlining licensing procedures and leveraging international expertise to modernize Egypt’s mining infrastructure. A high-level Egyptian delegation met with Doug Horak, CEO of the Australia-Africa Minerals & Energy Group (AAMEG), to establish a framework for attracting small and medium-sized Australian mining companies. Building on framework discussions initiated in late 2025, the meeting explored the transfer of…

A delegation of the Ministry of Petroleum and Mineral Resources met with Asimwe Kabunga, Founder and Executive Chairman of Australian Resource Minerals International Limited and officials from Abu Dhabi Ports Group. The meetings, which came on the sidelines of the African Mining Indaba conference in South Africa, highlighted investment opportunities in Egypt’s mining sector, supported by mineral resources, infrastructure, and energy sources, as well as recent reforms that have helped create a more competitive and investor-friendly environment, according to a statement by the Ministry of Petroleum and Mineral Resources (MoPMR). The petroleum ministry noted in its statement that discussions focused…

Oil markets remain in thrall to the risk of a US-Iran conflict, with prices yo-yoing in response to developments throughout the week. That bilateral talks in Oman went ahead on 6 February has calmed nerves in recent days, but the political uncertainty may persist in the weeks ahead. Fears of a US-Iran conflict in the Gulf pushed oil prices above $70/B in late January for the first time since September (MEES, 30 January), and price swings between $65/B and $70/B have been particularly pronounced this week. Uncertainty over whether the talks would proceed amid shifting locations and format changes added…

Minister of Petroleum and Mineral Resources Karim Badawi held high-level talks with senior executives from SLB, Baker Hughes, Weatherford, Halliburton, National Energy Services Reunited Corporation (NESR), and EXPRO in Egypt to establish a new technical framework for doubling Egypt’s domestic crude oil production over the next five years. The discussions focused on creating a dedicated contractual and technical mechanism between the Egyptian General Petroleum Corporation (EGPC) and international partners. This initiative aims to deploy advanced drilling and field development technologies, specifically horizontal drilling, to revitalize mature fields and accelerate the development of discoveries. Badawi directed that the executive details of…