Author: Rigs & Barge World
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Abu Dhabi National Oil Company (ADNOC) has signed a landmark structured financing transaction of up to $11 billion to monetize future midstream natural gas production from the Hail and Ghasha project in partnership with Eni and PTT Exploration and Production (PTTEP). The development forms part of the broader Ghasha Concession offshore Abu Dhabi and is designed as one of the world’s first offshore natural gas projects of its kind to operate with net-zero emissions, targeting the capture of around 1.5 million tonnes of carbon dioxide per year. The project is expected to produce up to 1.8 billion standard cubic feet…
Egypt and Jordan have renewed the electricity exchange contract for 2026, with the Egyptian Electricity Transmission Company (EETC) representing Egypt and the National Electric Power Company (NEPCO) representing Jordan, according to a statement from Egypt’s Ministry of Electricity and Renewable Energy. The renewed contract comes within the framework of a memorandum of understanding (MoU) between Egypt’s Ministry of Electricity and Renewable Energy and Jordan’s Ministry of Energy and Mineral Resources. Mahmoud Esmat, Minister of Electricity and Renewable Energy, and Saleh Al-Kharabsheh, Jordan’s Minister of Energy and Mineral Resources, witnessed the signing ceremony. Mona Rizk, Chairperson of EETC, and Sufyan Al-Bataineh,…
Libya’s NOC announced on 5 December that Italy’s Eni and partner BP are gearing up to drill the country’s first deepwater exploration well, a significant milestone for Libya’s offshore exploration and the latest sign of renewed international interest in the country’s upstream sector (MEES, 11 July). The announcement came just one day before officials held the first Libya-Africa International Gas Forum in Tripoli on 6 and 7 December. Top sponsors and attendees included existing partners Repsol, Eni, BP, Total, and OMV, all of whom are among 37 international qualified participants for Libya’s current bid round (MEES, 25 July). (CONTINUED -…
Baker Hughes has secured a significant multi-year contract from Kuwait Oil Company (KOC) to deploy advanced artificial lift technologies that will boost production across Kuwait’s oil and natural gas fields, according to a company statement. The agreement reinforces Kuwait’s efforts to enhance recovery from mature reservoirs while improving operational efficiency in its upstream portfolio. Under the contract, Baker Hughes will supply electrical submersible pumps (ESPs), as well as installation, monitoring, and maintenance services. The systems will be integrated with the FusionPro intelligent production drive and the Leucipa automated field production solution to improve reliability, optimize performance, and reduce nonproductive time.…
The deployment of a naval armada on December 16, representing approximately fifteen percent of total United States military assets near Venezuela, marks a transition from diplomatic pressure to active kinetic operations. This massive military presence has severely restricted the options available to President Maduro, who continues to maintain strict control over his nation despite its profound economic challenges. Complementing the naval presence, Venezuelan airspace has remained entirely closed to air traffic since late November.Recent American operations have focused on intercepting drug trafficking vessels, resulting in the reported elimination of over one hundred narco-terrorists through maritime strikes. Furthermore, the United States has…
Next year will be a landmark one for Qatar as it brings online its first new LNG capacity since 2010. It aims to commission the first train of its four-train 32mn t/y North Field East (NFE) project in Q3, and gradually increase domestic liquefaction capacity from 77mn t/y to 142mn t/y by the end of the decade. QatarEnergy had previously planned to bring online the first train from the first phase of its North Field Expansion project in Q1 next year, but amid delays it pushed this back to mid-2026 earlier this year. It also deferred the completion date for…
Saudi Arabia’s Midad Energy has become a key contender to acquire the international assets of Russian oil major Lukoil, three sources familiar with the discussions told Reuters. The portfolio, estimated at approximately $22 billion, comprises oil fields, refineries, and thousands of fuel retail stations across global markets. Midad Energy is preparing an all-cash bid for the assets, with purchase funds to be placed in escrow until sanctions on Lukoil are lifted, the sources said. One source noted that the transaction could involve US companies, reflecting Midad’s close political relationships with both Moscow and Washington. Around a dozen bidders have submitted…
India’s imports of Russian crude oil are set to exceed 1 million barrels per day (mmbbl/d) in December, defying earlier expectations of a sharp decline as refiners resume purchases from non-sanctioned suppliers offering steep discounts, according to trade and refining sources cited by Reuters. Preliminary trade flow data from London Stock Exchange Group (LSEG) indicate that December arrivals could exceed 1.2 mmbbl/d, with one trade source suggesting imports may average as much as 1.5 mmbbl/d by the end of the month. The resilience in imports comes despite earlier projections of a sharp drop. India, the world’s third-largest crude importer, shipped in 1.77…
The Syrian Petroleum Company (SPC) signed contracts with four Saudi firms on 10 December for the development of its oil and gas reserves. Saudi Arabia has been an early supporter of the new government of President Ahmed al-Sharaa, and its pledges of support are now turning into concrete investments (MEES, 1 August). As with Turkey and Qatar, Saudi Arabia is seeking to leverage its expertise in the energy sector to strengthen its political influence in Damascus. This week’s agreements were with ADES Holding, Taqa, Arabian Drilling and the Arabian Geophysical and Surveying Company (ARGAS) and follow the signing of memoranda…