Author: Rigs & Barge World
Minister of Petroleum and Mineral Resources, Karim Badawi, met with a high-level delegation from Italy’s energy giant Eni to review the company’s operations in Egypt and discuss plans to drill new natural gas wells in the Mediterranean. Discussions focused on the execution of current projects and the timeline for increasing gas and crude oil output from Eni’s concessions in the Mediterranean and Western Desert. The meeting also explored ways to leverage Eni’s technical expertise and advanced technologies to enhance the efficiency of existing wells. The delegation included Diego Portoghese, Head of North Africa and Levant, Francesco Gaspari, General Manager of…
Minister of Petroleum and Mineral Resources, Karim Badawi, met with a high-level delegation from Italy’s energy giant Eni to review the company’s operations in Egypt and discuss plans to drill new natural gas wells in the Mediterranean. Discussions focused on the execution of current projects and the timeline for increasing gas and crude oil output from Eni’s concessions in the Mediterranean and Western Desert. The meeting also explored ways to leverage Eni’s technical expertise and advanced technologies to enhance the efficiency of existing wells. The delegation included Diego Portoghese, Head of North Africa and Levant, Francesco Gaspari, General Manager of…
SLB expressed interest to start assessment of lithium potential and its extraction in Egypt, and to conduct new pilot tests in the Eastern Desert. This came during a meeting of SLB’s Head of Mining, Nicholas Lugansky, with Karim Badawi, Minister of Petroleum and Mineral Resources, on the sidelines of the Future Minerals Forum (FMF) in Saudi Arabia. During the meeting, Lugansky presented SLB’s strategic shift toward mining since 2024, noting that the company applies its oilfield expertise and technologies to critical minerals exploration, particularly lithium, to support the global energy transition. Badawi had a busy schedule during the forum meeting…
Energy markets are currently navigating their most volatile period in recent history. Not even the 12-day conflict between Iran and Israel in June 2025 caused fluctuations as dramatic as those seen in the past few days. While Iran remains a factor, the geopolitical fate of Greenland is creating equal anxiety as President Trump vows to acquire the island “the easy way or the hard way.”The Greenland ConflictInitially dismissed as a satirical suggestion in 2019, President Trump’s ambition to take possession of Greenland has become a serious pursuit in his second term. European diplomats view his rhetoric as a genuine military…
TotalEnergies and Bahrain’s state energy company Bapco Energies have announced the launch of BxT Trading, a new equally owned joint venture designed to strengthen Bahrain’s position in global oil markets. The venture will be backed by flows from Bapco Energies’ refinery, marking a strategic step in expanding the kingdom’s downstream trading capabilities. The signing ceremony took place in Abu Dhabi, attended by Shaikh Nasser bin Hamad Al Khalifa, Representative of His Majesty the King of Bahrain for Humanitarian Works and Youth Affairs and Chairman of Bapco Energies, alongside Patrick Pouyanné, Chairman and Chief Executive Officer of TotalEnergies. Positioning itself as…
Karim Badawi, Minister of Petroleum and Mineral Resources, opened a Future Minerals Forum (FMF) session in Riyadh showcasing Egypt’s mining reforms, investment incentives, and upstream opportunities to international investors and executives. The presentation marks Egypt’s shift from planning mining reforms to executing them, backed by legislative updates and streamlined licensing, according to a Ministry of Petroleum and Mineral Resources (MoPMR) statement. Over the past 18 months, MoPMR amended regulations, de-risked exploration, and shortened discovery-to-production timelines. Badawi further noted during the session that in 2024 and 2025, Egypt implemented investor-focused fiscal and legislative reforms aligned with international best practices and based…
Abu Dhabi state giant Adnoc announced on 7 January that it has taken a final investment decision (FID) on a sour deep gas project at the offshore Satah Al Razboot (SARB) field. Adnoc says the project will deliver 200mn cfd of gas “before the end of the decade” as part of the wider Ghasha Concession. The announcement comes after Adnoc late last year raised the targeted raw gas output from its two-phase $18.5bn Hail and Ghasha sour gas development project from more than 1.5bn cfd to 1.8bn cfd (MEES, 28 November 2025). The 200mn cfd SARB Deep Gas Development is…
bp, the British energy major, forecasts its upstream production in the fourth quarter (Q4) of 2025 to be broadly in line with the previous quarter, with stable output in oil production and operations offset by lower volumes in the gas and low-carbon energy segment. In its gas and low-carbon energy division, bp expects revenues to decline by $100 million to $300 million compared to the third quarter (Q3) of 2025, according to a press release by the company. This downturn primarily reflects weaker natural gas prices, specifically within non-Henry Hub benchmarks. Meanwhile, performance in gas marketing and trading is projected…
Karim Badawi, Minister of Petroleum and Mineral Resources, discussed with Robert Schlotterer, World Bank (WB) Group Metals and Minerals Practice Manager, possible cooperation with the bank’s entities -like the International Finance Corporation (IFC) and Multilateral Investment Guarantee Agency (MIGA)- in financing exploration activities, risk management, and private sector expansion. The talks, taking place during the Future Minerals Forum in Riyadh, included means to help Egypt achieve its goal of lifting the mining sector’s contribution to gross domestic product (GDP) from 1% to 5-6%, according to a statement by the Ministry of Petroleum and Mineral Resources (MoPMR). Badawi and Schlotterer agreed…
Iraq is taking over management of Lukoil’s 480,000 b/d-capacity West Qurna-2 (WQ-2) oilfield in Basra. The pre-emptive move is aimed at minimizing disruption at the key field. In a 7 January decision, the council of ministers approved the move, tasking state firm Basrah Oil Company (BOC) with handling field management “to the extent allowed by the provisions of the service and development contract” signed with the Russian private firm. (CONTINUED – 1011 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…