Author: Rigs & Barge World
As part of efforts to implement the five-year plan to boost production and enhance exploration activities, the Egyptian General Petroleum Corporation (EGPC) held a forum titled “The Systems We Built,” which showcased several in-house systems developed by employees across sector companies in terms of improving efficiency, optimizing resource utilization, reducing costs, and minimizing errors. The forum brought together several chairmen, deputies, and general managers from public sector companies operating in exploration and production. Walid Anwar, Vice Chairman for Corporate Oversight at EGPC, explained that the forum aims to present systems developed by employees in selected companies, categorized according to activity…
Cyprus’ long-delayed LNG import terminal at Vasilikos has moved from being a troubled infrastructure project to a full-blown governance scandal after a gap-analysis study commissioned by state gas infrastructure firm ETYFA laid bare fundamental failures in project design, tendering and oversight. The findings, reported by local media, provide a glimpse into why the European Commission last year clawed back €67mn ($79mn) of EU funding already disbursed for the project and cancelled payment of the remaining €28mn. They also sharpen the focus of an ongoing investigation by the European Public Prosecutor’s Office (EPPO), which is probing potential irregularities in the tendering…
OPEC+ is inclined to resume gradual oil production increases starting in April, Reuters reported, according to three sources within the alliance, as the group positions itself ahead of stronger summer demand and firmer prices linked to escalating US-Iran tensions. The potential move would enable leading producer Saudi Arabia and key member the UAE to recover market share. The shift comes as other members, including Russia and Iran, continue to face Western sanctions, while Kazakhstan’s production remains constrained by operational challenges and project setbacks. If confirmed, the increase would mark a strategic adjustment by the alliance as it balances supply management…
Saudi Arabia and the UAE want to be more than consumers of AI, they intend to host and export it. That ambition is now colliding with a hard constraint that sits outside most national AI strategies; electricity. Projects now under development mean that AI infrastructure will no longer be a marginal addition to electricity demand. It is instead a new class of energy-intensive industry, with direct implications for generation adequacy, transmission deliverability and summer peak reliability. Globally, policymakers are also revising their assumptions. The IEA projects that data center electricity consumption could more than double by 2030, reaching roughly 900–1,000TWh…
Egypt is close to agreeing the $420mn sale of the state-owned 580MW Gebel El Zeit wind farm on the Gulf of Suez, marking the first significant asset sale of Cairo’s privatization program (MEES, 19 September 2025). Dubai-headquartered infrastructure investor Alcazar is the reported buyer, according to Egyptian business portal Enterprise News, citing a government source. Reducing state involvement in the economy through a privatization program has been a key condition of the IMF’s $8bn loan package program, but progress has been extremely slow (MEES, 8 March 2024). (CONTINUED – 661 WORDS) Read this article for free Gain access to over…
*Egypt’s Petroleum Ministry data for 4Q 2025 shows the struggle Egypt is facing as it hopes to increase gas output. After posting its first quarterly increase in three years for Q3, output dropped again in Q4 to a nine-year low 4.15bn cfd, the data shows (see chart). 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 future risks and opportunities Source link
Minister of Petroleum and Mineral Resources, Karim Badawi, met with Agostino Palese, the Italian Ambassador to Cairo, to discuss ways to enhance cooperation between the two countries in the oil and gas sector and to follow up on the implementation status of petroleum projects in which Italian companies operating in Egypt are involved. During the meeting, Badawi noted that the partnership with the Italian side represents a successful model of constructive cooperation in the Mediterranean region. He pointed to the strategic role Eni has played as Egypt’s partner for more than 70 years. The meeting reviewed the investment opportunities available…
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Through a consortium, Eni and QatarEnergy have won the offshore exploration License O1 as part of Libya’s National Oil Corporation (NOC) 2025 competitive bid round, further consolidating their upstream footprint in the country. The offshore block spans around 29,000 square kilometers (km2) and is located in the marine extension of the prolific Sirte Oil and Gas Basin. The area is considered highly prospective, with significant zones still lacking 3D seismic data and the potential for additional hydrocarbon discoveries. Existing indications within the block include previously identified, but undeveloped, oil and gas finds. Under the agreement, Eni will act as operator…
Through Malaysia Petroleum Management (MPM), Petronas has officially launched the Malaysia Bid Round 2026 (MBR 2026) under the theme “Advantaged Energy: Accelerating and Shaping Tomorrow,” as part of efforts to reinforce Malaysia’s standing as a leading destination for upstream investment. The 2026 bid round features nine exploration blocks across the country, offering a diverse portfolio of opportunities. These include a high-impact frontier block in the Sandakan Basin, promising acreage in the emerging West Sarawak Basin, and near-field exploration blocks in the mature Malay Basin supported by new play concepts. The offering is designed to attract investors seeking a mix of…