Author: Rigs & Barge World

The Egyptian Mineral Resources and Mining Industries Authority (MRMIA) approved the issuance and renewal of 53 mineral exploration and exploitation licenses during the fourth quarter (Q4) of 2025. This regulatory action, covering the period from October to December, aligns with the Ministry of Petroleum and Mineral Resources’ (MoPMR) strategy to streamline mining operations and enhance the economic value of the nation’s mineral wealth. Minister of Petroleum and Mineral Resources Karim Badawi endorsed the approvals following a technical review by a specialized committee and the MRMIA Board of Directors, according to a statement by MoPMR. According to MRMIA, the decisions include…

The US government is now running Venezuela says President Donald Trump, after capturing President Nicolas Maduro on 3 January and extraditing him to the US. Energy Secretary Chris Wright says the US will now handle all Venezuelan oil exports “indefinitely,” which would afford it a level of control over another country’s energy sector, a notion unprecedented in recent times. Venezuelan officials have been quiet in response to these statements, and the country’s political outlook remains unclear. The US calculates that it can work with Maduro’s deputy Delcy Rodriguez, who has been sworn in as interim leader, through a combination of…

Scatec, a leading renewable energy solutions provider, has signed a Power Purchase Agreement (PPA) with the Egyptian Electricity Transmission Company (EETC) to develop a solar power plant with a total capacity of 1.95 gigawatts (GW) and a Battery Energy Storage System (BESS) to store the generated power with a capacity of  3.9 gigawatt-hours (GWh). Under the agreement, Scatec will develop one integrated solar and BESS hybrid system designed to provide continuous, around-the-clock renewable baseload power. In addition, the company will develop two standalone BESS projects to support grid stability and essential network services. The combined capacity will represent the largest…

Nearly three years into the raging war between the Sudanese Armed Forces (SAF) and the rival paramilitary Rapid Support Forces (RSF), the catastrophic hits on Sudan’s energy infrastructure are coming faster than ever. With the RSF making key gains in the south in recent weeks, and the army consolidating control over the east and the Red Sea coastline, Sudan’s de facto partition is solidifying, with the two factions facing accusations of indiscriminate shelling and drone strikes against vital sites on both sides of the divided country (MEES, 12 September 2025). (CONTINUED – 1273 WORDS) Read this article for free Gain…

Egypt is undergoing a fundamental structural transformation in its petroleum and natural gas sectors. A recent report by Rystad Energy, an Oslo-based leading independent energy research and business intelligence company, highlighted how the country leads globally in licensing rounds for 2025-2026, addresses overdue payments to international oil companies (IOCs), and reforms gas pricing to foster partnerships. Those efforts have stabilized production and restored investor confidence, positioning Egypt as a partner of choice for energy investment in Africa. Building on this foundation, the report, titled “Egypt’s Gas Reset: Clearing Debts, Reviving Drilling, and Scaling Renewables,” highlights the government’s proactive stance in…

Egypt has signed agreements worth over $1.8 billion with Norway’s Scatec and China’s Sungrow to develop two major renewable energy projects, marking a significant expansion of the nation’s green energy infrastructure, according to a statement by the Cabinet. Prime Minister Mostafa Madbouly attended the signing ceremony alongside senior government officials. The first project, titled “Energy Valley,” will be developed by Scatec in Minya Governorate. The 1.7-gigawatt (GW) solar power plant will be integrated with 4 gigawatt-hours (GWh) of Battery Energy Storage Systems (BESS) distributed across Minya, Qena, and Alexandria. According to a Scatec press release, the hybrid facility is designed…

Cairo has moved to secure its LNG needs for the summer, providing an alternative to Israeli pipeline supplies that were interrupted on multiple occasions last year. Egypt’s Ministry of Petroleum announced on 4 January, that Egypt and Qatar had signed “an MoU in Energy and Natural Gas Domains.” Egypt’s domestic gas production, which averaged 4.20bn cfd last year, has fallen precipitously since peaking at 7.19bn cfd in September 2021, prompting a two-track approach by Cairo to secure imports. Israeli pipeline supplies form the low-cost baseload of the import mix and last year’s 880mn cfd accounted for around 45% of the…

At the start of the decade, Oman was in a dire financial position. In the five years between 2015-2020 it racked up multi-billion-dollar deficits that pushed debt above $50bn to a level of 68% of its GDP. Rating agencies had junked the country’s credit rating and the Covid crisis was set to make things worse (MEES, 8 January 2021). But since then, Oman has managed to pull out of its spiral of ever-rising debt. Both its medium-term fiscal program and its 10th Five-Year Development Plan (2016-2020) focused on cutting back state spending and paying down debt. Muscat shifted spending on…

Kuwait’s power sector set an ununwelcome milestone in November, with electricity imports averaging more than 900MW for the first time. The high-demand summer season had long receded from the rearview mirror, yet the Ministry of Electricity and Water (MEWRE) remained reliant on imports for the ninth consecutive month (see chart 1). 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

Kuwait is preparing for a second phase of offshore drilling after the first six-well drilling campaign resulted in sizeable discoveries. According to Kuna, the next campaign will include drilling 17 new wells as well as a 3D seismic survey. Since starting in August 2022, the campaign has discovered 4.5bn boe (3.02bn barrels oil, 6.7tcf gas) through the first three wells, proving the petroleum systems for the Nokhetha, Julaiah and Jazah fields (MEES, 17 October). Two more wells are currently being drilled, while the campaign’s final well will be spudded later this year. (CONTINUED – 106 WORDS) Read this article for…