Author: Rigs & Barge World

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…

Egypt is advancing discussions with the European Bank for Reconstruction and Development (EBRD) to secure financing for the national aerial survey project aimed at mapping the country’s mineral resources. The talks took place during a meeting between Minister of Petroleum and Mineral Resources Karim Badawi and an EBRD delegation, where both parties explored enhanced cooperation across the petroleum and mining sectors, according to a statement from the Ministry of Petroleum and Mineral Resources (MoPMR). Key areas of potential collaboration include upgrading the digital infrastructure of the Mineral Resources and Mining Industries Authority (MRMIA), developing an advanced energy efficiency database, and…

ExxonMobil and Chevron are going head-to-head in an effort to secure Lukoil’s Iraq assets, multiple sources tell MEES. Iraq’s oil ministry announced on 1 December that it will only conduct talks “directly and exclusively” with American firms to replace Lukoil at the giant 480,000 b/d-capacity West Qurna-2 (WQ-2) oilfield in Basra. The ministry said that bringing a US operator at WQ-2 would “enhance economic cooperation between Iraq and the US,” as the caretaker government seeks to secure goodwill from the Trump administration. (CONTINUED – 1058 WORDS) Read this article for free Gain access to over 60-years of energy analysis and…

EOGC 2025, the 11th edition of Egypt’s leading annual forum on oil and gas dialogue and innovation, starts tomorrow, December 11. The one‑day event will convene senior government officials, global energy leaders, IOCs, service providers, and technology innovators. “This is the only gathering where the entire ecosystem, government and private Sector, stands side by side to honestly review our upstream Progress.” Said Eng. Mohamed Fouad, CEO of Egypt Oil & Gas. Attendees will learn about the latest developments in the sector in a live interview between Engineer Fouad and H.E. Karim Badawi, Minister of Petroleum and Mineral Resources, who is…

Opec+ ministers signed a historic agreement on 30 November that paves the way for a transformative revamp of how the group sets production baselines and quotas from January 2027 onwards. These changes are not just an internal bureaucratic matter, but will have pronounced, real-world implications by improving the effectiveness of Opec+ market management. In its post-meeting communique, Opec announced that during the Opec+ ministerial meeting, “the Participating Countries approved the mechanism developed by the Secretariat.” Under the mechanism a third-party consulting firm will be contracted to provide a comprehensive assessment of each country’s Maximum Sustainable Capacity (MSC), which will then…

Shell has signed a long-term agreement to purchase 100% of the sustainable aviation fuel (SAF) output from Green Sky Capital, providing the commercial certainty needed to construct Egypt’s first commercial-scale SAF facility. The plant, which is being developed by Green Sky Capital in the Suez Canal Economic Zone, is expected to commence operations by the end of 2027. It is designed to produce up to 145,000 tons per year (t/y) of SAF, along with bionaphtha and biopropane, helping to reduce carbon dioxide equivalent emissions by up to 500,000 t/y. “By securing 100% of the plant’s output, Shell is strengthening its…

Media release: Victorian acreage release a timely step to secure future gas supply | Australian Energy Producers Skip to content Source link

Russia’s state-controlled energy giant Gazprom has shipped a liquefied natural gas (LNG) cargo to China from its Portovaya LNG facility, marking the first apparent delivery since the US imposed sanctions on the project earlier this year, Reuters reported. The cargo was transported by the tanker Valera—previously named Velikiy Novgorod—which departed from the Portovaya terminal on the Baltic Sea on October 28 and discharged at the Beihai LNG import terminal in southern China. The Chinese terminal is also utilized by Novatek, Russia’s leading LNG producer, for deliveries from its Arctic LNG 2 project. Portovaya LNG, a small-scale plant with a production…

Opec+ is entering a new era with an agreement for a third-party assessment of each member state’s production capacity (MEES, 5 December). But with a US firm set to be awarded the contract to carry out the assessments, there is a complication. Three members – Iran, Venezuela and Russia – are all subject to US sanctions, and so alternative arrangements have been established for them to still participate in the process. Each country was provided with two options on how to proceed. (CONTINUED – 198 WORDS) Read this article for free Gain access to over 60-years of energy analysis and…

El Wastani Petroleum Company (WASCO) has drilled the North El-Basant–1 exploratory well in the Nile Delta, uncovering an estimated 15–25 billion cubic feet (bcf) of additional natural gas reserves according to initial results. The company is currently completing procedures to bring the well online, with expected production reaching around 10 million cubic feet per day (mmcf/d), according to the Ministry of Petroleum and Mineral Resources. This step is part of the ministry’s effort to reduce the gap between production and consumption by encouraging investment partners to intensify the drilling of exploratory wells. WASCO is a joint venture between UAE Dana…