Author: Rigs & Barge World
On the sidelines of Baker Hughes Annual Meeting 2026 held in Florence, Italy, the Minister of Petroleum and Mineral Resources, Karim Badawi, met with Alessandro Puliti, CEO of Saipem, a leading Italian company specialized in offshore energy engineering and drilling activities, to discuss opportunities to expand the company’s activities in Egypt. The Minister praised the strategic partnership with Saipem, commending its long-standing track record in Egypt, particularly in the development of Zohr and Burullus fields. The two sides also reviewed the preparation for West Delta Deep Marine (WDDM) Phase 12 gas development and production project, as well as the company’s…
The restart of Kurdish exports last year was a major development, but the impact on global balances will remain negligible in 2026. Source link
ADNOC and Abu Dhabi National Energy Company (TAQA) have signed a 27-year Utilities Purchase Agreement (UPA) to provide critical infrastructure and services to the TA’ZIZ Industrial Chemicals Zone in Ruwais Industrial City in Abu Dhabi, according to a press release by ADNOC. UPA is a long-term commercial contract under which an industrial operator or project developer agrees to buy essential utilities from a designated supplier under predefined terms. Under the long-term commercial contract, ADNOC and TAQA will jointly develop a central utilities project to support TA’ZIZ’s chemicals and transition-fuels facilities. The scope of the agreement covers both the construction phase…
Media release: Brisbane to host global LNG2029 Conference and Exhibition | Australian Energy Producers Skip to content Source link
India’s state-run Hindustan Petroleum Corp Ltd (HPCL) is planning to import Venezuelan crude oil for the first time to expand its activities in the processing of heavier grades in its new fiscal year (FY) beginning in April, Chairman Vikas Kaushal said. Indian refiners are evaluating Venezuelan crude supplies being marketed by trading houses Vitol and Trafigura under a U.S.-mandated sales mechanism following Washington’s recent action against Venezuelan President Nicolas Maduro. HPCL aims to enhance operational flexibility by leveraging two new facilities—the residue upgrading unit at its Vizag refinery and the Barmer refinery in Rajasthan—allowing it to raise heavy crude processing.…
On 22 January, Adnoc Offshore announced that it had awarded a $942mn EPC contract to US engineering firm McDermott International to increase capacity at its Nasr oil field to 115,000 b/d by 2027. The project has long been part of Adnoc’s ambition to increase crude oil production capacity to 5mn b/d by 2027 (MEES, 7 November 2025). The field is part of the Umm Shaif & Nasr concession (Adnoc 60%, TotalEnergies 20%, Eni 10%, CNPC 6%, CNOOC 4%). McDermott is also working on expanding the Umm Shaif field from 275,000 b/d to 390,000 b/d by 2027. (CONTINUED – 255 WORDS)…
Waleid Gamal El-Dien, Chairman of the Suez Canal Economic Zone (SCZONE), hosted Peter Mollema, the Dutch Ambassador to Egypt, to discuss expanding bilateral investment in renewable energy and green hydrogen production. According to an official statement issued by the SCZONE, the meeting held at the authority’s New Capital headquarters focused on leveraging Egypt’s strategic location and natural resources to support the global energy transition. Gamal El-Dien highlighted that the SCZONE is prioritizing the localization of green fuel industries as a cornerstone of its sustainable development strategy. Furthermore, he reviewed the progress of high-value projects within the zone, specifically the “Egypt…
An EU ban on fuels made from Russian crude came into effect this week. From 21 January, importers must prove that refined products imports have been produced from non-Russian origin crudes. The regulations add more complexity into global oil trade flows that have been increasingly fragmented since Russia’s invasion of Ukraine in 2022. (CONTINUED – 1049 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 high-level officials Assess future risks and opportunities Source link
Energean has received $80 million in outstanding dues from the Egyptian General Petroleum Corporation (EGPC), in early January, according to a statement by Energean. This settlement is part of a broader state initiative that has seen approximately $5 billion in receivables paid to international oil companies (IOCs) since mid-2024. Total sector arrears have dropped from a peak of $6.1 billion to a projected $1.2 billion by June 2026, a move Prime Minister Mostafa Madbouly highlighted as essential for restoring investor confidence. Energean also announced that it is preparing a multi-well exploration campaign in Egypt. Drilling is scheduled to begin at…
Venezuela expects to attract around $1.4 billion in investment this year in projects operating under oil production-sharing contracts (PSCs) promoted by the government, up from about $900 million last year, Interim President Delcy Rodríguez said. PSC is a type of agreement between a government (or state-owned oil company) and a private oil and gas company in which the government provides the resource, the company provides the investment and expertise, and they split the profits from production. Rodríguez made the remarks during a meeting with oil executives, lawyers and lawmakers at state-owned oil company PDVSA’s headquarters in Caracas, where discussions focused…