Author: Rigs & Barge World

Minister of Petroleum and Mineral Resources Karim Badawi honored several Egyptian petroleum companies during a recognition ceremony held on the sidelines of Egypt’s participation in the Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC 2025). The honored companies, including the Engineering for the Petroleum and Process Industries (ENPPI), Petrojet, and Egyptian Maintenance Company (EMC), were recognized for their outstanding performance and global achievements after being listed in the 2025 Engineering News-Record (ENR) ranking of the world’s top 250 construction companies. ENR is a U.S-based publication that provides comprehensive coverage of news, analysis, and data related to the global construction, engineering,…

The operational results of Harbour Energy showed a growth and diversification in production, reaching 473,000 barrels of oil equivalent (boe/d) during the first nine months of 2025, compared to 177,000 boe/d in the same period of 2024. The company explained that production is broadly split 40% liquids, 40% European gas and 20% other gas. In addition, the company recorded an increase in revenues during the period of $7.6 billion, versus $3.1 billion in the first nine months of 2024. According to the results, the unit operating costs declined 30% to $13 per barrel, compared to $19 per barrel, noting that…

ExxonMobil, Energean, and HELLENiQ ENERGY Upstream have announced a Farm-In Agreement under which ExxonMobil will acquire a participation interest in the Block 2 concession, located in the northwestern Ionian Sea, near the Italian Exclusive Economic Zone (EEZ). A farm-in agreement is a contract commonly used in the oil, gas, and mining industries, where one company, known as the farmee, acquires an interest in another company’s (farmor’s) exploration or production license by funding part of the project’s work program, such as drilling or seismic surveys. According to the terms of the agreement, ExxonMobil will acquire a 60% stake in the Block…

A $35bn gas export deal that would lift contracted Israeli gas volumes to Egypt by around 800mn cfd from 1bn cfd currently by the end of the decade is increasingly entangled in broader geopolitical affairs (MEES, 8 August). The deal has major commercial implications for Israel’s gas sector, but has also been caught up in domestic political dynamics and Israel’s deteriorating relationship with Egypt. Fundamentally, there are three key issues that need to be resolved for the gas deal to be implemented. (CONTINUED – 2231 WORDS) Read this article for free Gain access to over 60-years of energy analysis and…

Halliburton, one of the leading oil and gas innovative companies, has been awarded an Integrated Drilling Services (IDS) contract, from  Shell Nigeria Exploration and Production Company (SNEPCo), in partnership with Sunlink Energies, for operations in Oil Mining Lease (OML) 144, offshore Nigeria. The contract supports the development of the HI gas field, which will feed gas to the Nigeria LNG Train 7 project. Under the agreement, Halliburton’s Project Management team will oversee execution and integrate multiple services to deliver a full end-to-end drilling solution. Leveraging its global expertise in complex offshore projects and its strong operational track record in Nigeria,…

Iraq was forced to temporarily curtail crude oil exports this week following a 26 October fire at one of its primary oil storage depots. The fire at the Zubair-1 depot’s main pumping station caused two fatalities and knocked out 1mn b/d of pipeline throughput capacity. Basrah Oil Company (BOC) has since implemented workarounds to divert crude into alternative pipelines, and after two days the state firm was able to re-route flows to the nearby Zubair-2 depot (see map). This allowed displaced volumes to be delivered to Iraq’s offshore export terminals, and Kpler data shows that loadings rebounded later in the…

Karim Badawi, Minister of Petroleum and Mineral Resources, stated that Egypt is enhancing its role as a key regional hub for trading and exchanging energy, leveraging its fully integrated infrastructure. Speaking during an Energy Talks panel discussion with Cyprus Energy Minister George Papanastasiou at ADIPEC 2025, Badawi emphasized that this arrangement enables Egypt to provide a fast, economical, and reliable route for delivering East Mediterranean gas resources to global markets at a competitive cost. Badawi pointed out that connecting the Cypriot Cronos gas field to Egypt’s infrastructure represents the first practical step towards regional energy integration. This step follows the…

Karim Badawi, Minister of Petroleum and Mineral Resources, met with Jamal Al-Loughani, Secretary General of the Organization of Arab Petroleum Exporting Countries (OAPEC), on the sidelines of Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC) 2025. The meeting aimed to review opportunities for enhancing cooperation and exchanging technical expertise across various petroleum and energy activities. Consequently, the meeting concluded with mutual alignment to enhance cooperation in key areas, including energy security, supply stability, technology transfer, and human capacity development within the oil and gas sector. Minister Badawi expressed his appreciation for the Secretary General’s efforts to strengthen OAPEC’s message and…

Libya’s NOC on 29 October announced a new oil discovery made by Austria’s OMV in the country’s Sirte Basin oil heartland. OMV has yet to comment on the find, and whether it is commercial. The discovery was made at the B1–106/4 well (on ‘Block 4’ of ‘Area 106’), which targets the Essar prospect, where OMV last year started its first drilling campaign in Libya since the 2011 revolution (MEES, 1 November 2024). (CONTINUED – 289 WORDS) Read this article for free Gain access to over 60-years of energy analysis and news Delve into the details backed by data Exclusive information…

At the conclusion of his participation in the ADIPEC 2025 Exhibition and Conference in Abu Dhabi, Karim Badawi, Minister of Petroleum and Mineral Resources, met with executives and leaders of U.S Bechtel Corporation, China’s United Energy Group (UEG), Norwegian Subsea7, and U.S S&P Global. The meetings discussed strengthening existing partnerships and exploring new opportunities in oil, gas, and energy transition projects. Badawi met with Paul Marsden, President of Bechtel Corporation to review the progress of joint cooperation in several new refining projects, as well as the successful launch of Egypt’s first specialized school for safety and risk management in Ain…