Author: Rigs & Barge World

Eni North Africa has resumed offshore exploration operations in Block 16/4 northwest of Libya, after more than five years of suspension. Eni North Africa is a regional subsidiary of the Italian energy giant Eni, and it is responsible for managing the company’s oil and gas operations in North African countries, with a major focus on Libya. The company is re-entering the C1-16/4 exploratory well, also known as BESS-3, using Saipem’s Scarabeo-9 rig to complete drilling to its planned final depth of 10,520 feet (3,200 meters). Drilling on the C1-16/4 well originally began on March 11, 2020, but operations were halted…

The 7 October 2023 incursion by Palestinian Hamas militants into southern Israel prompted an unprecedented response by Israel, which has unleashed waves of attacks across Gaza over the past two years, killing thousands of Palestinian civilians alongside Hamas fighters. It has turned into the bloodiest confrontation in what has been an intractable Palestinian-Israeli conflict that has festered for nearly eight decades without resolution, with the regional spillover radically reshaping the Middle East’s geopolitical map. Previous attempts to negotiate a lasting ceasefire to the Gaza war with US, Qatari and Egyptian mediation have failed. But there is a glimmer of hope…

ExxonMobil Egypt, a leading provider of high-quality lubricants and fuels, has signed a cooperation agreement with Octane, an Egyptian fintech company providing a digital wallet and management platform for vehicle-related expenses, to support the transport sector in the domestic market and blend industry with technology. Through this deal, ExxonMobil Egypt will provide high-quality lubricants and services through Mobil’s stations across the country, while Octane will provide innovative digital solutions to improve operational efficiency, increase transparency, and provide the highest quality services to vehicle owners. Sherif Serag El Din, Vice Chairman, Managing Director, and Fuels Sales Manager at ExxonMobil Egypt, emphasized…

Yasser Ramadan, Chairman of the Mineral Resources and Mining Industries Authority, has been actively representing Egypt at key mining events, showing the country’s investment potential and reforms to attract global investors. The Egypt–China Investment and Innovation Forum During the second Egypt–China Forum for Investment and Innovation, Ramadan said in his opening speech that mining is a national priority under the Ministry’s six-pillar strategy. This pillar aims to increase the sector’s contribution to GDP from 0.5% to 5–6% by 2030 in line with Egypt’s Vision 2030. He highlighted Egypt’s mineral wealth, the mineral authority reform, and launch of the new mining portal…

The UN Security Council’s reimposition of international sanctions on Iran on 27 September signified the final collapse of the JCPOA nuclear deal, a decade after it was signed in 2015 (MEES, 17 July 2015). The deal had brought much hope of economic revival, ending decades of isolation, but the US withdrawal from the JCPOA in 2018 had already shattered any remaining optimism (MEES, 10 August 2018). Over the following years, Iran’s compliance with the deal’s limits on nuclear proliferation has deteriorated (MEES, 13 June). Seemingly strategized as a way of strengthening its hand in negotiations, this has alienated Western states…

Maridive and Oil Services S.A.E Company posted net losses of $22.3million  during the first half of 2025, compared to  net profits of $1.56 mn during H1 2024. This came in a statement the company has sent to the Egyptian Stock Exchange (EGX). Maridive is Egypt’s largest provider of offshore marine and oil support services and ranks as the leading company in the region by fleet size. Founded in 1978 in Port Said as a Free Zone Joint Stock Company, Maridive has steadily grown its operations through its key subsidiaries; Maridive Offshore Projects, Maritide, and Ocean Marine. Source link

Saudi Arabia is inviting bids for the development of new gas distribution networks in central and western regions that will facilitate planned industrial growth. Aramco is currently expanding its Master Gas System (MGS) transmission network to new demand centers, and the kingdom is turning to the private sector to build the distribution networks necessary to bring gas to end-users. In a 28 September announcement, the Ministry opened prequalification for contracts “related to the licensing, development, ownership, and operation of natural gas distribution networks in various Industrial Cities, namely: Sudair City for Industry and Businesses, Al-Kharj Industrial City, and Jeddah’s First,…

Eni and its partners, China National Petroleum Corporation (CNPC), ENH, Kogas, and XRG have announced the Final Investment Decision (FID) for the Coral North Floating Liquefied Natural Gas (FLNG) project, located offshore in Cabo Delgado, northern Mozambique. The project aims to develop gas resources from the northern section of the Coral reservoir in Area 4 of the Rovuma Basin through a state-of-the-art FLNG facility. The joint venture, comprising Eni (50%), CNPC (20%), Kogas (10%), ENH (10%), and XRG (a subsidiary of ADNOC, 10%), will execute the project. This marks Eni’s second major gas development in Mozambique and the world’s second…

Three major project companies from Egypt’s petroleum sector have been included in the prestigious Engineering News Record (ENR) list of the world’s top 250 construction firms for 2025—widely regarded as the global benchmark in contracting and engineering. The list ranks the world’s top 250 international contractors based on revenue generated from projects outside their home countries, reflecting global performance and competitiveness in the construction industry. The Engineering for the Petroleum and Process Industries Company (ENPPI) secured 98th place in the list, entering the global Top 100 for the first time. The company climbed 38 spots compared to its 2024 ranking,…

Iranian crude exports to China have dominated headlines around sanctions busting for years, but far less attention has been given to Iran’s 500,000 b/d refined products trade. Around 65% of this trade typically ends up in the UAE’s storage facilities, according to data intelligence firm Kpler. Despite the UAE’s closeness with the US, as well as its own fractious relations with Tehran, this flow continues to hold strong. Kpler estimates an average of 259,000 b/d flowing into the key port of Fujairah this year (80% of total Iran-UAE flows; see chart 1); Hamriyah takes another 35,000 b/d, with the remainder…