Author: Rigs & Barge World

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…

On 26 January, London-based Sound Energy announced new progress at its Tendrara concession in Morocco’s remote southeast, along with an extension for its exploration permits at the nearby Anoual block (see map). Just weeks after announcing the start of initial commissioning activities at Tendrara’s TE-5 Horst formation (MEES, 12 December 2025), operator Mana Energy says two more wells (TE-6 and TE-7) “have now been successfully and safely flowed to commission and their respective parts of the Gas Gathering System (GGS) tested.” (CONTINUED – 296 WORDS) Read this article for free Gain access to over 60-years of energy analysis and news…

Dana Gas, the Middle East’s largest regional private sector natural gas company, has reported a net profit of AED 476 million ($130 million) for the full year 2025 compared to AED 553 million ($151m) in 2024.  According to the company’s preliminary unaudited financial results, full-year revenue reached AED 1.28 billion ($348 million). While this marks a decrease compared to fiscal year (FY) 2024, the previous year’s figures included a one-off $46 million uplift from revised gas pricing under the Consolidated Concession Agreement signed late 2024 in Egypt. The agreement consolidated and amended terms across the company’s gas concessions in Egypt. That…

Shell reported adjusted earnings of $3.3 billion for the fourth quarter of 2025, representing a 39% decrease compared to the third quarter. For the full year, the company’s adjusted earnings reached $18.5 billion, a decline of $5.2 billion from the previous year. Moreover, the company’s Cash Flow from Operations (CFFO) reached $9.4 billion in Q4 2025, compared to $12.21 billion in Q3 2025. Shell said that these results are supported by ” strong operational performance in Upstream and Integrated Gas in a lower price environment, offset by year-end movements.” Regarding Operational results, Shell delivered total production of 1.9 million barrels…

Heightened US-Iran tensions and the significant American military buildup in the Gulf have revived market concerns over the security of oil and gas supplies from the Middle East. But as last year’s 12-day Israel-Iran conflict and subsequent US strikes on Iran’s nuclear facilities showed, the risk of Tehran blocking the Strait of Hormuz remains low unless it perceives an existential threat. Washington has dialed down calls for regime change since Iran crushed protests earlier in January. But with the Islamic Republic at its weakest point in decades amid severe economic strain, growing domestic dissent and the erosion of its regional…

The Ministry of Petroleum and Mineral Resources (MoPMR) is participating with a high-level delegation in the activities of Africa’s Mining Indaba 2026 conference, held in Cape Town, South Africa, from February 9th to 12th, where global and African mining leaders converge to shape the future of the sector. Egypt’s participation in this year’s edition comes within the framework of promoting the new investment climate in the mining sector and showcasing the structural reforms and investment incentives recently implemented by the Ministry. It also aims to highlight legislative amendments designed to streamline procedures and attract major international corporations, as well as…

Meanwhile, Supreme Leader Ayatollah Khamenei dismissed the possibility of further discussions with the Trump administration. He noted that the Islamic Republic’s founding father, Ayatollah Khomeini, had banned the revival of ties with the United States. Consequently, progress remains in limbo. As the U.S. bolsters its military presence in the region, defense analysts believe both sides are merely buying time to achieve their respective goals.Despite the temporary relief, a risk premium remains baked into oil and gas prices due to Middle East tensions, causing recent price spikes. This geopolitical friction has countered the downward pressure typically caused by an anticipated supply…

Within the framework of the Ministry of Petroleum and Mineral Resources’ directives, the Egyptian General Petroleum Corporation (EGPC) organized an extensive meeting that included the new chairmen and operations managers of petroleum sector companies, alongside several supporting companies. During the meeting, Salah Abdel Kerim, EGPC’s CEO, emphasized that the current stage requires a level of commitment and performance that matches the scale of the new projects the sector is undertaking in exploration, production, refining, and distribution, especially in light of the growing domestic market demand for petroleum products. The meeting identified several priorities for the upcoming phase. Chief among these…

The global LNG market is on the cusp of a new supply wave that will push it into a new cycle of oversupply, definitively bringing to an end the era of high prices that was sparked by Russia tightening supplies to Europe in 2021 ahead of its invasion of Ukraine the next year. The US and Qatar are leading this surge in new capacity, and between them account for around two thirds of the 287mn t/y extra capacity by 2031 that is expected under the IEA’s LNG project tracker. (CONTINUED – 942 WORDS) Read this article for free Gain access…

Qatar this week laid to rest any notion that it was struggling to secure long term sales commitments for volumes from its LNG expansion trains. QatarEnergy signed sales contracts for 5mn t/y of LNG during the triennial International Conference & Exhibition on Liquefied Natural Gas in Doha (LNG2026). The agreements with Petronas and Jera were the first since December 2024, when a 700,000 t/y five-year deal was reached with India’s Gail. (CONTINUED – 1557 WORDS) Read this article for free Gain access to over 60-years of energy analysis and news Delve into the details backed by data Exclusive information from…