Author: Rigs & Barge World

Egypt has signed two memoranda of understanding (MoU) with UAE-based International Resources Holding (IRH) in the fields of mining and finance. The first MoU was signed between the Egyptian Mineral Resources and Mining Industries Authorities and IRH. It focuses on providing technical support services for Egypt’s aerial survey project to identify mining opportunities at various stages and the launch of a digital platform to enable efficient access to survey results. The second MoU was signed between the Egyptian General Petroleum Corporation (EGPC) and IRH, and aims to provide commercial financing facilities for the trade of crude oil, liquefied natural gas…

Columbia Group, a global leader in integrated maritime services, and its long-time partner, Pan Marine Shipping Services, one of Egypt’s largest maritime solutions providers,  have joined forces to launch a new joint venture, Columbia Pan Marine Ship Management Egypt. The new entity will represent the Group in Egypt and will offer the complete range of services from Columbia Shipmanagement and the broader Columbia Group. The partnership is a major step in Columbia Group’s expansion into key maritime regions. It reinforces its dedication to the growth of the Egyptian naval industry, Columbia Group said in a statement. “We are delighted to…

TotalEnergies, along with its partners QatarEnergy, and Congo’s national oil company Société Nationale des Pétroles du Congo (SNPC), have secured the Nzombo exploration license in the Republic of the Congo. Covering an area of 1,000 square kilometers, the Nzombo block is located about 100 kilometers offshore from Pointe-Noire, close to the Moho production facilities operated by TotalEnergies EP Congo. The partners plan to launch the drilling of an exploration well by late 2025. “This award of a promising Exploration permit, with the material Nzombo prospect, reflects our continued strategy of expanding our exploration portfolio with high impact prospects, which can…

The economic fallout for India is significant. Labour-intensive sectors such as textiles, gems, jewellery, and seafood have been particularly hit hard, which directly impacts the rural economy, a key focus of Mr Modi’s economic policy. In response, the Indian government has announced it will explore measures to support the affected industries and is looking to diversify its trade relationships.Despite the tariffs, India’s economy has reportedly maintained a robust growth of over 7%, while the equivalent for Western economies has remained in the lower single digits. As the one-sided tariff war escalated, India made a dramatic diplomatic move that the Trump…

Egypt Gas has reported higher net profits after taxes of EGP 209.18 million in the first half (H1) of 2025, compared to EGP 167.61 million in H1 of 2024, according to the Egyptian Exchange. Since its inception in 1983, Egypt Gas has played a pivotal role in distributing natural gas across the country. Beyond household distribution, the company has also supplied natural gas to several industries, including aluminum, steel, sugar, paper, and brick manufacturing. It launched the first natural gas station in Africa and the Middle East in 1996. The company is also expanding its presence in other Arab countries,…

The board of directors of TAQA Arabia, Egypt’s leading private sector energy and utility provider, held a meeting recently via video conference to approve the company’s management presentation for the second quarter investment plans, according to the company’s disclosure to the Egyptian stock exchange During the meeting, the board reviewed the latest developments of the Zafarana solar energy project, implemented under a memorandum of understanding signed with the Ministry of Electricity in 2024. The project is Egypt’s first and largest solar-powered desalination plant. The board also reviewed the potential of investing in Liquefied Natural Gas (LNG) projects in Tanzania. TAQA…

Capricorn Energy Egypt, a wholly owned subsidiary of Capricorn Energy PLC, has completed its 2024-2205 Social Investment Project in Matruh Governorate targeting villages of El-Negila and Sidi Barrani, including those of  Abu Milad, Abu Ghalila, and Abu Omeira. The project was executed in cooperation with Middle East Oil Tankage snd Pipelines (MIDTAP), Tharwa Petroleum, and Orman Association.It involved the construction of 25 home roofs and 80 rainwater harvesting wells to enhance access to clean water. The project also included the launch of 74 income-generating projects such as pigeon towers and goat farming areas as well as the deployment of eight…

Assiut Oil Refining Company (ASORC)‏ processed over 3.1 million tons of crude oil to maximize its production of high-value petroleum products during fiscal year (FY) 2024/25, ASORC Chairman Mahmoud Nagy stated. This came during ASORC’s general assembly attended by Karim Badawi, Minister of Petroleum and Mineral Resources, and other ministers. Nagy explained that diesel production increased to 760,000 tons annually, a rise of 130,000 tons, enough to meet half the needs of the Central and Southern Upper Egypt region. Meanwhile, the company’s gasoline production meets 80% of the local market’s needs in Upper Egypt. The company further supplies a significant…

Egypt and Sudan explored means for cooperation in the mining sector and value-added industries during a meeting between Karim Badawi, Egyptian Minister of Petroleum and Mineral Resources; Nour El-Daim Taha, the Sudanese Minister of Minerals; and Omar El-Farouq, the Sudanese Deputy Ambassador to Cairo, and representatives from leading Sudanese mining companies and institutions. Badawi emphasized the significant opportunities for partnership between Egypt and Sudan, highlighting the prospects of cooperation to utilize the rich mining resources in Sudan to support value-added industries and export to international markets. The minister added that Egypt is considering building specialized mining schools, and that is…

Wael Lotfy Hamed Mostafa was appointed as Head of Central Projects Administration at the Ministry of Petroleum and Mineral Resources (MoPMR). The appointment of Mostafa aligns with the petroleum sector’s keenness to benefit from distinguished competencies and expertise in managing and executing projects both domestically and abroad, achieving added value, and expediting the pace of work, noted a MoPMR statement. Mostafa began his professional career in the sector as an engineer at the Engineering Company for the Petroleum and Chemical Industries (ENPPI) in 1992. Over the years, he rose through the managerial ranks until he became Senior Project Manager at…