Author: Rigs & Barge World
Adnoc’s international subsidiary XRG was centerstage at this week’s Adipec, Abu Dhabi’s premium energy event. The firm signed a number of new agreements during the event as it continues its aggressive expansion, including two major gas export agreements. It also expanded its Egypt portfolio (MEES, 7 November). First was a non-binding Heads of Terms deal on 3 November for XRG to acquire an unspecified stake in Azerbaijan’s Southern Gas Corridor (SGC) CJSC, a joint stock company owned by Socar (51%) and the Ministry of Economy (49%). The company holds Azerbaijan’s stake in the SCP, Tanap and Tap pipelines that can…
Adnoc and SLB announced on 3 November during the Adipec conference in Abu Dhabi that they are deploying an artificial intelligence (AI)-powered Production System Optimization (AiPSO) platform across eight oil and gas fields in the emirate. Adnoc says that AiPSO uses millions of real-time data points, AI and Adnoc’s own proprietary machine learning. It will proactively monitor and optimize an entire production system from wellhead to processing, “enabling engineers to diagnose issues and optimize wells in minutes instead of days.” (CONTINUED – 161 WORDS) Read this article for free Gain access to over 60-years of energy analysis and news Delve…
Global oil prices dropped on Friday before the weekend close, recording a second consecutive week of losses. As of 18:00 GMT, WTI crude stood at $59.75 and Brent at $63.63 per barrel.This decline occurred despite analyst predictions that the lingering threat of U.S. action against Venezuela would cause a supply disruption and push prices higher—a fear that did not materialize this week.Venezuela holds a uniquely significant position in global oil: it has the world’s largest proven oil reserves; despite heavy sanctions, the country still contributes 1.0–1.1 million barrels a day to the global supply.Venezuelan oil is primarily heavy and sour…
Syria is preparing to offer up gas licenses covering its offshore and onshore to IOCs and hopes American firms Chevron and ConocoPhillips will take acreage, Syrian Energy Minister Mohammed al-Bashir tells MEES. He spoke after a meeting with executives from Chevron and Qatari energy officials on the sidelines of the Abu Dhabi International Petroleum Exhibition and Conference (Adipec) on 3 November. The meeting of the three delegations was held at Chevron’s exhibition stand. (CONTINUED – 1277 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…
Opec+ ministers opted to ease cuts again in December before pausing the process for Q1’s low demand season. The group is adhering to Saudi A… Source link
On the sidelines of the ADIPEC 2025 Exhibition and Conference in Abu Dhabi, Karim Badawi, the Minister of Petroleum and Mineral Resources, met with heads of several major international companies, including Technip Energies, Honeywell, and the Korean National Oil Corporation (KNOC) to discuss cooperation opportunities in the energy sector. During his meeting with Arnaud Pieton, CEO of Technip Energies, Badawi reviewed the progress of the Assiut National Oil Processing Company (ANOPC) complex, a major project for the production of diesel and high-value petroleum products. It is implemented by Technip Energies in cooperation with Enppi and Petrojet. The two sides also…
Minister of Petroleum and Mineral Resources Karim Badawi honored several Egyptian petroleum companies during a recognition ceremony held on the sidelines of Egypt’s participation in the Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC 2025). The honored companies, including the Engineering for the Petroleum and Process Industries (ENPPI), Petrojet, and Egyptian Maintenance Company (EMC), were recognized for their outstanding performance and global achievements after being listed in the 2025 Engineering News-Record (ENR) ranking of the world’s top 250 construction companies. ENR is a U.S-based publication that provides comprehensive coverage of news, analysis, and data related to the global construction, engineering,…
The operational results of Harbour Energy showed a growth and diversification in production, reaching 473,000 barrels of oil equivalent (boe/d) during the first nine months of 2025, compared to 177,000 boe/d in the same period of 2024. The company explained that production is broadly split 40% liquids, 40% European gas and 20% other gas. In addition, the company recorded an increase in revenues during the period of $7.6 billion, versus $3.1 billion in the first nine months of 2024. According to the results, the unit operating costs declined 30% to $13 per barrel, compared to $19 per barrel, noting that…
ExxonMobil, Energean, and HELLENiQ ENERGY Upstream have announced a Farm-In Agreement under which ExxonMobil will acquire a participation interest in the Block 2 concession, located in the northwestern Ionian Sea, near the Italian Exclusive Economic Zone (EEZ). A farm-in agreement is a contract commonly used in the oil, gas, and mining industries, where one company, known as the farmee, acquires an interest in another company’s (farmor’s) exploration or production license by funding part of the project’s work program, such as drilling or seismic surveys. According to the terms of the agreement, ExxonMobil will acquire a 60% stake in the Block…
A $35bn gas export deal that would lift contracted Israeli gas volumes to Egypt by around 800mn cfd from 1bn cfd currently by the end of the decade is increasingly entangled in broader geopolitical affairs (MEES, 8 August). The deal has major commercial implications for Israel’s gas sector, but has also been caught up in domestic political dynamics and Israel’s deteriorating relationship with Egypt. Fundamentally, there are three key issues that need to be resolved for the gas deal to be implemented. (CONTINUED – 2231 WORDS) Read this article for free Gain access to over 60-years of energy analysis and…