Author: Rigs & Barge World

Tunisia ended 2025 on a high note, commissioning its largest solar power plant yet. The government also approved tenders for 2.35GW new solar and wind projects for 2026. Renewables accounted for a record 5.1% of power generation in 2024, a figure that it is unlikely to have been improved on by much last year. Progress has been slow in recent years as financing delays have held up projects, but the government will be hopeful that it is now on the right track as it pushes towards its target of 35% renewables by 2030. (CONTINUED – 669 WORDS) Read this article…

Egypt is due to receive approximately $2.7bn from the IMF this month as part of two ongoing agreements. $2.5bn is due to be released once the IMF board approves the disbursement, following the completion of the fifth and sixth reviews of Egypt’s economy as part of an $8bn Extended Fund Facility loan agreed in March 2024 (MEES, 8 March 2024). The remaining $200mn will be released after the first review of a resilience and sustainability facility (RSF) that provides Egypt with access to $1.3bn (MEES, 14 March 2025). (CONTINUED – 331 WORDS) Read this article for free Gain access to…

After years of delays, Iran is now making progress in commissioning the technically challenging 320,000 b/d South Azadegan Central Treatment Export Plant (CTEP). The second of four 80,000 b/d trains was brought online in December, bringing the facility’s capacity up to 160,000 b/d, the oil ministry’s Shana news agency reports. The remaining two trains (A and B) are undergoing mechanical completion and should enter service by March 2026 (MEES, 28 November 2025). The CTEP facility is a key project for Iran as it targets capacity gains from Azadegan and the other fields in the West Karun cluster. This cluster is…

On 29 December, Saudi Arabia’s Acwa Power announced that it has entered into multiple Share Purchase Agreements (SPA) in China for the acquisition of 1.25GW of wind power projects. This includes one operational facility with 250MW capacity and four under-construction assets with combined capacity of 1GW. In a statement to the Tadawul, Acwa said it had previously announced entry into China with a development pipeline of 1GW of renewable energy projects, “out of which 333MW satisfied Acwa Power conditions and were added to the company’s operational portfolio.” (CONTINUED – 118 WORDS) Read this article for free Gain access to over…

The UK government on 17 December placed Egypt’s flagship Zohr gas field on a list of projects exempt from sanctions on Russia. Russian state firm Rosneft holds a 30% stake in the project, that is operated by Italy’s Eni (50%) alongside UK major BP (10%) and Abu Dhabi state firm Mubadala Energy (10%). Zohr is producing around 1.4bn cfd currently, a far cry from its peak of 2.96bn cfd in 1Q 2021, after it was able to stabilize output through two successful sidetrack wells last year (see p4). (CONTINUED – 171 WORDS) Read this article for free Gain access to…

Minister of Petroleum and Mineral Resources, Karim Badawi, and Minister of Public Business Sector, Mohamed Sheimy, held a high-level meeting at the petroleum ministry’s headquarters in the New Administrative Capital to finalize a framework for integrated industrial development. The meeting focused on maximizing the economic returns of Egypt’s mineral wealth and accelerating energy infrastructure for the national textile modernization project, according to a statement by the Ministry of Public Business Sector. A primary pillar of the cooperation involves two strategic phosphate fertilizer initiatives led by El Nasr Mining Company, a subsidiary of the Metallurgical Industries Holding Company. The first project,…

The Ministry of Petroleum and Mineral Resources (MoPMR) has completed 90% of the planned works to connect natural gas to households under the presidential Decent Life initiative. During a meeting with Prime Minister Mostafa Madbouly, Minister of Petroleum and Mineral Resources Karim Badawi confirmed that efforts are being accelerated to finalize the rural infrastructure projects in alignment with the national development timetable. From July 2024 to December 2025, the ministry connected natural gas to 940,000 homes, a milestone that saved an estimated 17 million butane cylinders and their associated subsidies. To date, over 650 villages have benefited from the initiative, according…

Alamein for Silicon Products Company (ASP) has signed a long-term joint financing agreement worth $140 million to launch the first phase of the Silicon Metal Production and Derivatives Complex. Established under the Egyptian Petrochemicals Holding Company (ECHEM), the project is a centerpiece of Egypt’s strategy to localize high-value industries. The financing institutions include Qatar National Bank (QNB), Commercial International Bank (CIB), and Banque du Caire, with the National Bank of Egypt (NBE) serving as the project’s financial advisor, according to a statement by the Ministry of Petroleum and Mineral Resources (MoPMR). The industrial complex, which was recently granted the Golden…

A high-level field inspection was conducted at the EDC-11 drilling rig within the North Bahariya Petroleum Company (Norpetco) concession to evaluate operational efficiency and safety performance. The visit follows directives from Karim Badawi, Minister of Petroleum and Mineral Resources, regarding the necessity of direct leadership engagement at production sites to ensure sustainable output. The inspection focused on the technical readiness of equipment, routine maintenance activities, and the rigorous application of occupational health, safety, and environment (HSE) standards. Officials assessed the rig’s adherence to operating plans and examined safety systems designed to protect personnel while meeting production targets. The Egyptian Drilling…

Egypt Gas has unveiled its estimated budget for the 2026 fiscal year, targeting a net profit after tax of EGP 420 million. The company’s financial roadmap, disclosed to the Egyptian Exchange (EGX), focuses on expanding natural gas delivery networks to residential and industrial sectors while optimizing operational efficiency to support the national economy. The 2026 budget projects total activity revenues of EGP 9.50 billion, up from EGP 8.40 billion in 2025. To support this growth, the company has allocated a capital expenditure (Capex) budget of EGP 595 million for asset additions, a significant increase from the EGP 327 million allocated…