Author: Rigs & Barge World
Badr Eldin Petroleum Company (Bapetco), a joint venture (JV) between Shell and the Egyptian General Petroleum Corporation (EGPC), have implemented an updated drilling system and well design in BED 16-33 well in Westen Desert, reducing costs by nearly $500,000 and drilling time by about 10 days, according to a statement by the Ministry of Petroleum and Mineral Resources (MoPMR). In cooperation with EGPC, this achievement was driven by implementing an integrated engineering strategy aimed at enhancing operational efficiency, increasing penetration rates through utilizing advanced drill bits, alongside deploying real-time monitoring techniques and advanced data analysis. This comes in line with…
The Board of Directors of the Egyptian General Petroleum Corporation (EGPC) held a meeting to review measures for accelerating production and securing domestic energy supplies. During the meeting, conducted via Video conference, both EGPC CEO Salah Abdel Kerim and the Deputy CEO for Financial and Economic Affairs, Amal Tantawi, presented initiatives aimed at attracting new investments to the Gulf of Suez, the Mediterranean, and the Western Desert to increase petroleum and natural gas production. Chaired by Karim Badawi, Minister of Petroleum and Mineral Resources,the meeting was held with the participation of Manal Awad, Minister of Local Development; Mohamed Farid, Minister…
Saudi Arabia announced on 12 April the completion of repairs on the vital 7mn b/d East-West crude oil pipeline to Yanbu, enabling it to again operate at full capacity. The repairs were on a pumping station damaged by an Iranian attack on 8 April (MEES, 10 April). The attack on one of the 1,200km pipeline system’s 11 pumping stations caused throughput capacity to drop by 700,000 b/d. The pipeline brings crude oil from Aramco’s fields in Eastern Province to the port of Yanbu on the Red Sea coast for onwards export and refining. With the Strait of Hormuz closed due…
Oilfield services giant Halliburton recorded a net income of $461 million, or $0.55 per diluted share, for the first quarter (Q1) of 2026, more than doubling the $204 million reported in Q1 2025, the company announced on April 21, 2026. Total revenue for the quarter remained flat year-on-year (YoY) at $5.4 billion, while operating income reached $679 million with a 13% operating margin. The company’s production revenues slipped 3% to $3.0 billion, with operating income down 17% to $439 million, reflecting weaker stimulation activity in North America and reduced tool sales in the Middle East. However, gains in Africa and…
The US-Iran conflict entered a new phase after Washington imposed a maritime blockade on Iran from 13 April (MEES, 17 April). The move is intended to pressure Iran – both directly and via China, the dominant buyer of Iranian oil – into making concessions when negotiations resume (MEES, 17 April). The blockade, if successful in choking off Iranian exports, would test the resilience of Iran’s oil sector, which has until now been largely unaffected by the conflict. While the Arab Gulf states have been unable to export through the Strait of Hormuz, Iran continued to export crude and condensates unimpeded.…
Karim Badawi, Minister of Petroleum and Mineral Resources, met with Diego Portoghese, Italy’s Eni’s Head of North Africa and Levant Region, to review the company’s exploration and production activities in Egypt and explore avenues for strengthening bilateral cooperation, according to a statement by the Ministry. During the meeting, Badawi commended the progress observed during his recent visit to the Meleiha fields in the Western Desert, in which Eni is a primary partner in the exploration, development, and production of hydrocarbons within the Meleiha concession. Badawi further praised the progress in the ongoing intensive operations in Abu Madi field in the…
Karim Badawi, Minister of Petroleum and Mineral Resources, met with Greg McDaniel, Senior Vice President of International Assets and General Manager of Apache Egypt, to discuss ways to enhance cooperation and follow up on the progress of operations at the company’s production sites, focusing on improving operational efficiency and developing work mechanisms in concession areas. During the meeting, Badawi praised the efforts he observed during his recent visit to the Western Desert sites, emphasizing the significance of supporting employees as the fundamental pillar for sustaining production operations around the clock. He also commended the efficiency and professionalism of the work…
Algeria has granted BP a new prospecting license for hydrocarbons exploration in the country’s Eastern Basin, state upstream regulator Alnaft announced on 14 April. The authorization allows the company to perform preliminary surveys and studies – excluding drilling or extraction, which require separate permits – to assess the resource potential in promising areas in the eastern Sahara desert near the borders with Libya and Tunisia (see map). (CONTINUED – 548 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…
The energy consumption rationalization plan is still under evaluation to assess the savings it has achieved. Initial indicators suggest that during the first week, it resulted in savings of 18,000 megawatt-hours (MWh) of electricity, 3.5 million cubic meters (mmcm) of fuel, 4,700 MWh from remote work, and 980,000 cubic meters of fuel, Prime Minister Mostafa Madbouy noted in his speech before the Parliament on April 21, 2026. The prime minister outlined Egypt’s rationalization plans and energy strategy amid geopolitical unrest caused by the war between the US and Iran, which, in turn, impacts the global energy supply chain. Regarding energy…
Kuwait has moved to protect its contractual obligations after disruptions to tanker traffic in the Strait of Hormuz forced it to suspend part of its oil export commitments, Reuters reported, citing Bloomberg News. Kuwait Petroleum Corporation (KPC), a state- owned oil company, notified clients that it is activating a force majeure clause following difficulties faced by some vessels attempting to access the Persian Gulf. The notice, sent on Friday, allows the state oil company to temporarily withhold agreed shipments under exceptional circumstances, according to the report. The development follows a blockade in the strategic waterway, which has constrained maritime access…