Author: Rigs & Barge World

Energean, the international energy company focused on natural gas exploration and production, announced that its Egyptian assets showed “an excellent performance” during the first nine months of 2025 with production of 29,000 barrels of oil equivalent per day (boe/d), according to its latest trading update report. The strong Egyptian performance offset the effect of a decline in production at the company’s interest in the Cassiopea Field, Italy. The report pointed out that Energean’s average production through the nine months ending September 30, 2025, came in at 151,000 boe/d, which is slightly lower than the 156,000 boe/d posted for the corresponding period…

Egyptian independent Cheiron announced the start-up of the West El Burullus (WEB) project on 16 November. The offshore Mediterranean development has started with initial flows of 45mn cfd, ramping-up to 75mn cfd early next year. “We are pleased to announce the start of production from the West ElBurullus (WEB) gas field, following the successful connection of the first wells to the national gas grid,” Cheiron says. The gas is piped to UK major Shell and Malaysian state firm Petronas’ nearby West Delta Deep Marine (WDDM) facilities. Cheiron secured a $75mn loan from a local banking syndicate to help cover part…

Oil prices appear to be trending toward the mid-fifty dollar mark, a trajectory many analysts predicted months ago. As of 11:37 GMT on Wednesday, West Texas Intermediate (WTI) was priced at $57.09 and Brent crude at $62.23.The price continues its steady decline despite a reported fall in US crude stocks last week. While a drop in stocks is typically a bullish factor (suggesting higher prices), its influence is currently overshadowed by several major macroeconomic factors and geopolitical issues.US Crude StocksGlobal economic concerns have been weighing on investors. These worries are amplified by the ongoing tariff wars involving the United States…

Iman Hill, Country Manager and Managing Director of Vaalco Energy Egypt, has been appointed Chairwoman of the Egypt Oil and Gas Committee, effective December 11—the set date for EOG2025 convention. The announcement was made during the Committee’s Executive Board meeting on November 24, which also witnessed the launch of a comprehensive restructuring of the committee’s operational framework. “We want a sustainable environment that makes it easy to invest in Egypt so that when we come to capital allocation, Egypt is an easy choice for our companies,” Hill emphasized—signaling her strategic priorities during her tenure. During the meeting, Hill outlined key…

In a continued effort to enhance performance and inject new expertise, Karim Badawi, Minister of Petroleum and Mineral Resources, issued a new round of transfers among senior financial affairs executives in the petroleum sector. Walid Nabil Khamis Mohamed has been appointed Deputy Managing Director for the Financial Affairs and Board Member at the Egyptian Natural Gas Holding Company (EGAS). He began his career at Cooperation Petroleum Company (CPC) in 1997, then in 2026 he joined   EGAS, as the General Manager of Financial Monitoring, and in 2023 he was appointed as Assistant Chairman for Financial Affairs at Modern Drilling Company (MDC).…

Oman is teeing up the next phase of its gas expansion plans, moving towards commercialization of a recent discovery. State upstream firm OQ Exploration and Production (OQEP) says that appraisal work of a 2023 gas discovery in exploration Block 11 (Shell 67.5%, TotalEnergies 22.5%, OQEP 10%) is moving towards a final investment decision (FID) in 2026 (see map). 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

TotalEnergies Marketing Egypt announces the sponsorship of the 11th edition of the Youth Centers League for the 2025–2026 season, marking the third consecutive year of its support for the initiative. The company signed a cooperation agreement with the Ministry of Youth and Sports for the league, which is held under the patronage of President Abdel Fattah El-Sisi. Mutaz Nazzal, Managing Director of TotalEnergies Marketing Egypt, pointed out that the cooperation between the company and the Ministry reflects the integration between the public and private sectors in supporting Egypt’s sustainable development efforts. TotalEnergies’ sponsorship of the Youth Centers League aligns with…

Russia is exploring opportunities to increase oil exports to China and deepen cooperation on Liquefied Natural Gas (LNG), according to Deputy Prime Minister Alexander Novak’s announcement on Tuesday during a Sino-Russian business forum in Beijing. Since the start of the Ukraine conflict in 2022, China and India have become Russia’s largest oil buyers. China currently imports approximately 1.4 million barrels per day (bbl/d) of Russian oil by sea and about 900,000 bbl/d via pipeline, as reported by Reuters. Novak told the forum that Moscow is in talks with Beijing to expand energy trade. “We see prospects for increasing oil supplies…

Omani state upstream firm OQ Exploration and Production (OQEP) is a major player in the country’s upstream sector, with its sizeable portfolio of oil and gas fields consistently yielding more than 200,000 boe/d in working interest production. Output has been broadly flat over the past year, with 9M WI output of 224,000 boe/d edging down 2%. Production is relatively balanced between oil (121,000 b/d) and gas (103,000 boe/d: 337mn cfd). Despite this, sales volumes were up 6.2% year-on-year to 118,500 boe/d. Gas sales were flat at around 336mn cfd, with oil up 12% to 62,000 b/d due to contract terms…

The Executive Board of the Egypt Oil & Gas (EOG) Committee convened a high-level strategic meeting on November 24 to finalize a comprehensive restructuring of its operational framework. Led by a coalition of Egypt’s most prominent International Oil Companies (IOCs) and technology providers, the meeting outlined a new roadmap to transform the Committee into a catalyst for technical and operational support across the energy sector. The EOG Committee was formed in 2012 to facilitate communication between government and investors, develop strategic plans, and run task forces on topics such as brownfields, digitalization, sustainable development, health, safety and environment (HSE), and…