Author: Rigs & Barge World

Egypt is planning to build a new liquefied natural gas (LNG) liquefaction and storage terminal in Port Said to supply fuel for the Suez Canal Authority’s (SCA) locomotives. The project was discussed in a recent meeting between Minister of Petroleum and Mineral Resources, Karim Badawi, and SCA Chairman, Osama Rabie. The project aligns with the SCA’s strategy to transition to cleaner energy sources. Badawi stated that the Ministry of Petroleum and Mineral Resources (MoPMR) fully supports the initiative, which aims to enhance the operational efficiency of the canal’s locomotives while promoting sustainable fuel use. Badawi also commended the SCA for…

As Libya’s oil and gas sector shows signs of slow recovery after more than a decade of instability (MEES, 23 May), NOC says that Eni has resumed exploration drilling in an offshore area northwest of the country, ending a five-year hiatus. The Italian energy giant – via its NOC JV Mellitah Oil and Gas Company – has now re-entered the exploratory well C1-16/4 (also known as BESS-3) in contractual Area D (previously Block NC-41), NOC announced on 5 October. The well lies approximately 95km off the Libyan coast and around 15km from the Bahr Essalam gas field (see map). (CONTINUED…

Energean Italy has resumed production at the Rospo Mare field in the Adriatic Sea, which had been shut down since January 2025 following a platform fire. Production at the field, located 20 kilometers (km) offshore from Termoli and Vasto, restarted on October 12 The field is currently producing over 2,000 barrels per day (bbl/d), with operations expected to reach full capacity across all three platforms once final authorizations are received. Energean expects the asset to remain productive beyond 2040. In the statement, the company expressed its gratitude to the relevant authorities for their continued support and collaboration during the restart…

bp, the giant integrated energy company, expects its results for the third quarter (Q3) of 2025 to show higher oil and gas production, compared to Q2. The company also expects its gas and low carbon revenues to be lower by $0.1 billion compared to Q2 due to the drop in natural gas prices in the non-Henry Hub marker, which is the global natural gas price benchmark outside the U.S. Henry Hub. In the oil production and operations segment, earnings are expected to remain largely unchanged from the previous quarter, factoring in the effects of pricing delays on bp’s output in…

Oman’s oil output has been capped in recent years as voluntary Opec+ production cuts have limited the sultanate’s crude production since May 2023. Some of this has been offset by increased condensate output, but the start of new voluntary cuts in January 2024 meant total liquids output fell below 1mn b/d for most of that year. The steady unwinding of Opec+ production cuts since April pushed Oman’s liquids output back above 1mn b/d in July for the first time since February 2024. Opec+ ministers agreed to another incremental increase for November (MEES, 10 October, under which Oman’s crude oil quota…

Dana Gas, the Middle East’s leading natural gas company, and Crescent Petroleum, the region’s oldest private upstream oil and gas firm, announced the official launch of the commercial gas sales from the KM250 gas expansion project at the Khor Mor facility in the Kurdistan Region of Iraq (KRI). The KM250 project, delivered eight months ahead of the revised schedule, adds 250 million standard cubic feet per day (mmscf/d) of processing capacity, a 50% increase, raising total output at Khor Mor to 750 mmscf/d. This milestone is predicted to enhance Iraq’s energy security by supplying clean-burning natural gas to meet its…

The Egyptian General Petroleum Corporation (EGPC) has signed an agreement with Italian Eni and UK bp to extend the development lease for the Baltim East field in Baltim, offshore the Nile Delta region. Under the extended agreement, Eni and bp plan to reinvest and expand their operations in the Baltim East field over the next five years to unlock new gas resources. The agreement aligns with the Ministry’s strategy to increase domestic oil and gas production and meet local energy demand through intensified exploration in promising offshore areas, said Karim Badawi, Minister of Petroleum and Mineral Resources. For his part,…

Qatar’s state giant QatarEnergy sees the East Mediterranean as a key growth area, and this week farmed into its sixth offshore Egypt block. The firm is again partnering with Shell after the pair relinquished two Egyptian Red Sea blocks earlier this year (MEES, 7 March). “QatarEnergy has entered into an agreement with Shell to acquire a 27% participating interest in the North Cleopatra block offshore the Arab Republic of Egypt,” the company announced on 5 October. (CONTINUED – 761 WORDS) Read this article for free Gain access to over 60-years of energy analysis and news Delve into the details backed…

Egypt is preparing to launch an international tender for oil and gas exploration in four areas of the Red Sea, through the Egypt Upstream Gateway (EUG). The announcement was made during a meeting between Karim Badawi, Minister of Petroleum and Mineral Resources, and Andrea Lovatani, Director of Exploration Data and Digital Solutions at SLB, held on the sidelines of the World Energies Summit in London. The meeting also addressed the regional seismic survey project in the Eastern Mediterranean, which Minister Badawi first announced in September during the GASTECH Exhibition and Conference in Milan, Italy. Covering an area of 95,000 square…

United Energy Group Limited (UEG) announced the successful completion of its acquisition of Apex International Energy Holdings I, following the satisfaction of all conditions precedent under the Sale and Purchase Agreement (SPA). The transaction was completed on 14 October 2025, in accordance with the terms of the SPA. The acquisition marks another milestone in UEG’s growth strategy, strengthening its upstream oil and gas portfolio, and expanding its presence in Egypt’s Western Desert—an area of strategic importance and long-term potential. Through the acquisition, UEG holds interests in several production and exploration concessions in Egypt’s Western Desert, operated in partnership with leading…