Author: Rigs & Barge World
An announcement by Saudi Arabia’s Ministry of Finance last week indicating that the Jafurah Basin unconventional gas project had started up always appeared suspect, especially given the lack of confirmation from Aramco itself (MEES, 5 December). And that caution was justified, with Aramco’s EVP for Gas Abdulkarim al-Ghamdi this week telling the Middle East Gas Conference that commissioning is underway and that the project is on schedule to start up by year-end. 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…
The bearish sentiment in the crude oil markets continues unabated, despite the substantial drawdowns in US crude oil inventories. According to the American Petroleum Institute (API), US crude inventories fell by 4.8 million barrels and 2.48 million barrels respectively, during the last two weeks.As of 16:50 GMT on Friday, the prices of WTI and Brent were $57.53 and $62.19 respectively. In this context, forecasts by both investment banks and the EIA (US Energy Information Administration) that oil prices will likely remain below $60 a barrel in 2026 hardly serve as a catalyst to shore up battered investor sentiment.To capitalize on…
Yemen’s UAE-backed secessionist Southern Transitional Council’s (STC) military offensive continues to reshape the embattled country’s political landscape. After the group removed Saudi-backed government and tribal forces and took control of two oil and gas producing blocks in Yemen (MEES, 5 December) earlier in the month, on 7 December it further strengthened its position by taking over the Al-Aqlah fields in Block S-2 in Shabwa. Until earlier this year, S-2 was operated by Austria’s OMV, but the firm walked away effective 1 June (MEES, 30 May). Production at S-2 has been shut in since March 2023 due to the Houthi embargo…
Eni has confirmed a significant natural gas discovery at the Konta-1 exploration well in the Muara Bakau Production Sharing Contract (PSC), located approximately 50 kilometers offshore East Kalimantan in Indonesia’s Kutei Basin. Early estimates place the gas initially in place at around 600 billion cubic feet (bcf), with the potential to exceed 1 trillion cubic feet (tcf) once additional reservoir segments are assessed. Drilled to a depth of 4,575 meters in 570 meters of water, the well intersected four Miocene-age sandstone reservoirs with strong petrophysical characteristics. A drill stem test on one reservoir delivered flow rates of up to 31…
Intensive talks continue at Israel’s energy ministry as the partners of the 22.3tcf Leviathan gas field, led by operator Chevron (39.66%), lobby for a permit to export an additional 130bcm of gas to Egypt. Receiving the export permit from Energy Minister Eli Cohen is a key condition of the giant $35bn deal first announced in August to send more gas to Egypt (MEES, 8 August). The partners missed their self-imposed 30 November deadline but have given themselves another month to convince the minister to approve their application. (CONTINUED – 1771 WORDS) Read this article for free Gain access to over…
Natural Gas Vehicles Company (CARGAS) is planning to expand into several Arab and African countries by establishing centers specialized in converting gasoline‑fueled vehicles to natural gas, said Khaled Raslan, the company’s Chairman and Managing Director. The announcement came during a meeting between Karim Badawi, Minister of Petroleum and Mineral Resources, and Raslan with other company leaders to discuss ways to expand operations beyond Egypt and strengthen CARGAS’s presence in Arab and African markets. Raslan outlined the company’s operational objectives as the oldest Egyptian firm specializing in vehicle conversions to natural gas. He revealed plans to expand operations and develop stations…
Australian Energy Producers welcomes Federal Resources Minister Madeleine King’s announcement today to open five new areas in the Otway Basin for offshore petroleum exploration, which will help ensure Australia’s long-term supply of reliable and affordable gas. Chief Executive Samantha McCulloch said the decision reaffirms the essential role of natural gas to Australia’s energy security, and the need for continued investment in new gas supply. “Exploration is a critical first step in the discovery and development of new oil and gas resources needed to ensure Australia’s long-term energy security,” Ms McCulloch said. “Natural gas provides reliable electricity, fuel for heating and…
The 11th edition of the Egypt Oil and Gas Convention (EOGC2025) has just commenced, gathering senior government officials and industry leaders in one room to address the strategic challenges facing Egypt’s oil and gas sector and draw a path forward. The EOGC 2025 aims to streamline industry dialogue, innovation, and strategic collaboration through in-depth panel discussions, insightful presentations, and an engaging live interview with H.E. Karim Badawi, the Minister of Petroleum and Mineral Resources, to highlight the challenges and developments the sector has faced since he came into office a year ago. In its new edition, the convention delves…
Kuwait is close to completing the merger of its two state-owned refining companies, Kipic and KNPC, according to a 29 November report by Kuwait’s Arab Times quoting unnamed officials. The two firms are subsidiaries of KPC, which has been working to merge them under the KNPC brand. KNPC has refining capacity of 800,000 b/d, as well as 3.12bn cfd gas processing capacity, while Kipic operates the 615,000 b/d Al Zour refinery and the neighboring 22mn t/y Al Zour LNG import terminal. Kipic was originally formed out of KNPC in 2016 to oversee the development of the Al Zour projects. The…
Shell is nearing an agreement to acquire LLOG Exploration Offshore, one of the largest privately owned operators in the US Gulf of Mexico, in a transaction valued at over $3 billion, two sources familiar with the matter told Reuters. The discussions are reportedly in their final stages, with one source indicating that an agreement could be finalized before the end of the year. However, both sources emphasized that the talks remain confidential and that a deal is not yet guaranteed. If completed, the acquisition would significantly expand Shell’s upstream footprint by adding LLOG’s extensive deepwater and ultra-deepwater assets to its…