Author: Rigs & Barge World

Egypt is working to secure its gas and energy needs for the next five years, Prime Minister Mostafa Madbouly stated during a meeting with the editors-in-chief of various Egyptian newspapers and news websites on September 16. More importantly, Madbouly said that the Zohr field’s production stabilized and returned to its normal levels after repaying the dues to foreign partners. He also added that the regularity in repaying arrears has prompted the resumption of new exploration activities and affirmed that within two to three years, Egypt aims to restore the maximum production volume from its fields. According to a press release and…

Egypt and TotalEnergies Marketing Egypt(TEME), discussed ways to enhance cooperation in the field of safe transportation of petroleum products. This came during the meeting of Karim Badawi, Minister of Petroleum and Mineral Resources, with  Thomas Strauss, TEME’s outgoing Managing Director, who was accompanied by his successor, Mutaz Nazzal‏. A TotalEnergies representative in Egypt has also attended the meeting. The discussion focused on leveraging TEME’s advanced expertise in safe transportation in light of the agreement it signed with the Egyptian General Petroleum Corporation (EGPC) . The agreement ensures providing specialized consulting services to improve safety standards in the petroleum product transportation…

The Egyptian Mineral Resources and Mining Industries Authority discussed ways of cooperation and strategic partnership with Baker Hughes, one of the largest companies specializing in energy technologies. The goal is to develop Egypt’s mining and mineral resources sector by integrating modern technologies and sustainable practices. These discussions, which aims to maximize the added value of the country’s mineral wealth, was discussed during a meeting at the Authority’s headquarters. The meeting, led by Authority Chairman Yasser Ramadan and Baker Hughes Country Director Amro Ismail Elsharkawi, focused on mechanisms to strengthen cooperation in integrating modern technologies in the sector, in a way…

The Ministry of Petroleum and Mineral Resources, Methanex Egypt, and the Engineering and Science Services (ESS) of the American University in Cairo (AUC) launched the initial round of Egypt’s first Process Safety Management (PSM) Professional Diploma. The first cohort includes 32 professionals from various oil, gas, and petrochemical companies across the sector. Over four months, participants will take part in the program through in-person and online sessions covering key areas. These include the fundamentals of process safety, hazard identification and risk assessment, process safety leadership, safety in design and engineering, emergency response and incident investigation, as well as regulatory compliance…

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Saudi Aramco, a leading global energy and chemicals company, has finalized a $3 billion international Sukuk offering split into two tranches. Priced on September 10, 2025, the securities are now listed on the London Stock Exchange. The company said in a statement that the issuance includes two tranches: the fist one consisting of $1.5 billion set to mature in 2030, carrying an annual profit rate of 4.125%, and the second $1.5 billion maturing in 2035, with an annual profit rate of 4.625%. “We believe this successful issuance reflects the confidence of global investors in Aramco’s exceptional financial resilience and robust…

Prime Minister Mostafa Madbouly said the upcoming increase in fuel prices, expected in October, may be the last major hike if current global price levels hold. He emphasized that even after this adjustment, the diesel subsidy will not be fully removed. Madbouly made these remarks during a dialogue with chief editors of various newspapers and news websites. For fiscal year (FY) 2025/26, the estimated fuel subsidy is about EGP 75,033 million, marking a 51.4% year-on-year (YoY) decrease as part of the fuel prices reform program, according to the Ministry of Finance. Reforming fuel prices was a key objective of Egypt’s…

Minister of Petroleum and Mineral Resources, Karim Badawi, inspected the interactive workshop for the third batch of the Petroleum Projects and Technical Consultations Company’s (Petrojet) “Believers Build Better Tomorrow” program. The visit aimed to follow up on the program’s progress, ensure smooth implementation, and reaffirm the ministry’s support for building leadership and management skills among project managers. Badawi praised Petrojet and its employees during the workshop, pointing out the effective role the company plays as a strong arm of the Egyptian petroleum sector in both execution and manufacturing. The workshop takes place on September 14-18 at the company’s headquarters, with…

Field engineers representing 15 companies operating in the Eastern Desert and the Gulf of Suez gathered at the Ras Shoukair base on September 9th and 10th to exchange best practices used in the area and share personal experiences in overcoming operational challenges on the ground. The gathering, hosted by Ras Shoukair base’s operator Gulf of Suez Petroleum Company (GUPCO), marked the first in a series of three technical workshops that are part of Egypt Oil & Gas Group’s 11th Convention, scheduled for November. The outcomes and insights from these workshops will be presented and discussed during the convention. The Egyptian…

“Egypt’s Oil and Gas production is back on Track, with the sector succeeding in overcoming the decline witnessed in recent years to start a phase of gradual production increases,” the Ministry of petroleum and Mineral Resources(MoPMR) said in a press release accompanied by infographics showing the main measures taken by the government to reach this point. Petroleum and Mineral Resources Minister Karim Badawi stated that the dedicated efforts of the petroleum sector and strategic partnerships were instrumental in achieving these results. He commended the international oil companies (IOCs) operating in Egypt for their commitment and continued support in achieving this…