Author: Rigs & Barge World

The UAE has become an increasingly active exporter of electricity through the GCC interconnector, and Adnoc Gas says the trade is a valuable source of incremental demand for its gas supplies. Electricity exports are through the GCC Interconnection Authority (GCCIA), which operates an interconnection supplying electricity to all six members of the GCC. The GCCIA began operating in 2009, but usage has since been minimal. That changed last year when Kuwait began relying on electricity imports to supplement generation from its aging fleet in the summer. Kuwait’s import needs have grown sharply this year (MEES, 21 November), and will continue…

Finnish petrol station operator Teboil, owned by Russian Lukoil, announced on November 19 that it is preparing to shut down all of its stations in the Nordic country, as reported by Reuters. The decision comes as fuel supplies to the stations are running out amid US sanctions imposed on Lukoil.  Lukoil acquired full control of Teboil in March 2005, and it has remained under its ownership since then. A statement from Teboil indicated that the stations will close in phases as soon as existing fuel stocks are sold out. Teboil operates almost 20 % of the nation’s total stations. Last month,…

Wood, a UK-based consulting and engineering company, has secured a new contract to manage Engineering, Procurement, and Construction (EPC) services for PetroChina at the West Qurna 1 oilfield in southern Iraq. The multi-year award deepens Wood’s long-standing involvement in one of the nation’s largest and most vital oil-producing assets. “The West Qurna 1 field underpins the nation’s energy security and contributes significantly to its economic resilience. This contract award deepens our decade-long partnership at West Qurna 1 and reflects the continued trust placed in Wood to deliver complex energy solutions in Iraq,” said Ellis Renforth, Wood’s President of Operations for Europe, Middle…

(Pictured: Australian Energy Producers Chief Executive Samantha McCulloch, Chair Meg O’Neill and Vice-Chair Tor McCaul) Welcome Good afternoon members, fellow Australian Energy Producers directors, and secretariat. Year in review This year has been a significant one for our industry. In Australia, and around the world, we are seeing a marked shift in the public narrative in support of more gas production to meet increasing energy demand and growing consensus on the essential and long-term role of natural gas in our energy future. As we know, natural gas is a source of high heat for industry and manufacturing, feedstock for fertiliser…

The Ministry of Petroleum and Mineral Resources (MoPMR) announced a new oil discovery offshore the Gulf of Suez, following the successful drilling of the Northeast Ramadan Crystal exploration well (NER-1X). The well is located in the North-East Ramadan Concession area. The discovery was made by the Gulf of Suez Petroleum Company (GUPCO), the operating joint venture (JV) between the Egyptian General Petroleum Corporation (EGPC) and the UAE’s Dragon Oil. The Ministry expects the new well to be brought on stream within days, with an estimated initial output of about 3,000 barrels per day (bbl/d) of crude oil. According to the…

Russia’s Lukoil has declared force majeure on operations at Iraq’s 480,000 b/d-capacity West Qurna-2 field (WQ-2: Lukoil 75%op, North Oil Co 25%), ahead of the implementation of US sanctions on the company on 21 November. The move, coupled with the US last week blocking Lukoil’s planned sale of international assets to trading firm Gunvor (MEES, 7 November), has left Iraq scrambling to maintain operations at one of its largest southern fields. The oil ministry has transferred Lukoil’s operator role to state firms Basrah Oil Company (BOC) and Missan Oil Company (MOC) on a temporary basis in an effort to maintain…

British companies, including BP, Shell, Harbour Energy, and Capricorn show increased interest in Egypt with an obvious commitment to inject substantial investments into is evident of the appeal of Egypt’s energy investment landscape, said Karim Badawi, Minister of Petroleum and Mineral Resources, during his meeting with Mark Bryson-Richardson, the British Ambassador to Cairo, and his accompanying delegation, on November 20. The Minister also highlighted Egypt’s growing role as a regional gas and oil trading hub, which receives significant quantities of gas, particularly those expected from Cypriot fields, that can be directed to value-added industries. He also reviewed the ongoing mutual…

Ministry of Petroleum and Mineral Resources (MoPMR) organized the second workshop about the applications of Artificial Intelligence (AI) in oil and natural gas Exploration and Production (E&P), in cooperation with SLB. The attendees included  Ehab Ragaee, First Undersecretary for Production Affairs at the Ministry of Petroleum and Mineral Resources (MoPMR), and Mohamed Radwan, Vice Chairman of South Valley Egyptian Holding Company for Petroleum (GANOPE) for Agreements and Exploration, and Director of the Egypt E&P Gateway, alongside several company chairmen, exploration managers, and representatives of foreign partners. The workshop aimed to exchange experiences and successful practices in implementing AI to enhance…

After more than two decades of fits and starts, the Banda gas project off Mauritania’s Atlantic coast looks for the first time like a genuine development project rather than a paper exercise. What was long considered a marginal offshore field is being repositioned as a small-but-strategic domestic gas-to-power project that could both firm up Nouakchott’s electricity supply and give Mauritania a second gas pillar alongside the flagship 15tcf Greater Tortue-Ahmeyim (GTA) development (MEES, 30 May). Mauritania’s only gas-capable power plant is the 180MW Thermique plant that currently burns fuel oil. Energy Minister Mohamed Ould Khaled announced plans earlier this year…

Oil giant Saudi Aramco has made over $30 billion in 17 Memoranda of Understanding (MoUs) and agreements with major companies in the US during a visit to Washington by the Saudi Crown Prince Mohammed bin Salman. These agreements cover a range of activities, including Liquefied Natural Gas (LNG), financial services, advanced materials manufacturing, and procurement of materials and services, the company said on Thursday. “We expect the multi-billion-dollar MoUs and agreements announced today to act as a springboard for further progress, strengthening Aramco’s longstanding legacy of collaboration with American counterparties and unlocking new value creation opportunities that promote innovation and…