Author: Rigs & Barge World
In a meeting with Prime Minister Mostafa Madbouly alongside several other government officials, President Abdel Fattah El-Sisi stressed the need to accelerate the completion of additional electricity supply systems for the “New Delta” project, which aims to reclaim around 2.2 million acres of desert land west of the Nile Delta, establish new sustainable communities, and strengthen food security. He emphasized that securing electricity for the agricultural sector as a whole is vital to protect Egypt’s strategic crops amid regional and international challenges. El-Sisi also underlined the importance of regularly updating the national energy security plan. Also present during the meeting…
Egypt showcased its efforts to provide an attractive investment environment in the oil and gas sector at the African Energy Week (AEW) held in Cape Town, South Africa. The event, held under the slogan “Investing in African Energy: Enabling Africa to Lead the Global Energy Transition,” serves as an important platform for discussing increased investment and attracting financing to the African continent, drawing over 6,000 participants, including senior government officials and global energy industry leaders. Established in 2021, with the mission of “making energy poverty history by 2030”, the African Energy Week (AEW) is a prominent annual energy event hosted…
Karim Badawi, the Minister of Petroleum and Mineral Resources, met with Dalia El Gabry, Country Chair of Shell Egypt, to discuss the company’s upcoming investment plans in natural gas exploration and production from its concession areas in the Mediterranean. Attended by Mahmoud Abdel Hamid, Egyptian Natural Gas Holding Company (EGAS) Chairman, the discussion focused on Shell’s programs to drill new wells, expand exploration activities, and build on recent output gains achieved through the 10th and 11th phases of the West Delta Deep Marine project. Both sides reviewed the ongoing cooperation at the Idku LNG plant, a key asset to support…
Minister of Petroleum and Mineral Resources, Karim Badawi, has met with Iman Hill, Country Manager of Vaalco Energy in Egypt, to discuss the US-based company’s plans to expand its operations in Egypt and to utilize renewable energy sources at its operational sites in the Eastern Desert by connecting its production facilities to these sources, according to press release issued by the Ministry of Petroleum and Mineral Resources (MoPMR). For her part, Hill expressed her appreciation for the significant support provided by the MoPMR. She stressed that the regular payment of arrears encouraged the company to intensify its work in the…
Oil and gas companies scale back on clean energy in North America Source link
KKR, a leading global investment firm, has acquired a minority stake in ADNOC Gas Pipeline Assets LLC, deepening its partnership with the Abu Dhabi National Oil Company (ADNOC) and reinforcing its growth strategy in the Middle East. The gas pipeline network connects ADNOC’s upstream assets to local off-takers in the UAE. Pipeline ownership and operational management remain with ADNOC. KKR is acquiring a minority stake using the funds it is managing. The investment builds on the firms’ 2019 oil pipelines agreement, which was the first of its kind in the region and has become a model for similar transactions…
Fertiglobe, the world’s largest nitrogen fertilizer producer in the Middle East and North Africa (MENA) region, announced the completion of acquiring the distribution assets of Wengfu Australia Pty Ltd., a leading fertilizer distribution business, through an asset sale and purchase agreement (SPA), strengthening its downstream reach and enhancing supply access for Australian customers. Fertiglobe is the world’s largest seaborne exporter of urea and net ammonia combined, and the exclusive ammonia platform of the UAE ADNOC and XRG. Under the transaction, Fertiglobe Australia Pty Ltd., will be established as a fully owned subsidiary that will operate the acquired assets and serve…
Egypt and the Emirate of Fujairah signed an agreement on Thursday to establish an Egyptian shareholding company responsible for developing a logistics zone in the Mediterranean basin at El-Alamein. The project aims to store and trade petroleum products in the Mediterranean, and involves upgrading and expanding El-Hamra Port in cooperation with the Fujairah Oil and Gas Corporation. The agreement was signed during Minister of Petroleum and Mineral Resources Karim Badawi’s visit to the UAE, where he met with Hamad Bin Mohammed Al Sharqi, Ruler of Fujairah and Supreme Council Member, to discuss opportunities for cooperation and expanding investments in the…
Ganoub El Wadi Petroleum Holding Company (GANOPE) conducted a field tour in the Gulf of Suez and the Eastern Desert for senior officials from its subsidiaries following directives from Karim Badawi, Minister of Petroleum and Mineral Resources, to monitor safety, exploration, and production activities. The two-day tour, organized by Ashraf Bahaa El-Din, the company’s chairman, included the participation of GANOPE’s vice presidents and assistants for agreements, exploration and production, and occupational health and safety, as well as company heads, exploration managers, and operations and projects managers. On the first day, the delegation visited the fields of Petrogulf, a joint venture…
3 Key insights: Cash flow trends of U.S. oil and gas producers Source link