Author: Rigs & Barge World
Gulf of Suez Petroleum Company (GUPCO) invested $452m in FY 2024/25, maintained production level at around 57,000 barrels per day (bbl/d) and completed the first phase of the North Safa field, Abdul Wahab El-Maghawry, the company’s Chairman, told its General Assembly headed by Minister of Petroleum and Mineral Resources Karim Badawi. El-Maghawry added that the second phase of the North Safa Field is expected to go online in the third quarter of the current fiscal year. He also said the company is currently implementing a plan to drill and repair 14 wells in its concessions. El-Maghawry also pointed out that…
Production from the Partitioned Neutral Zone (PNZ) has remained steady so far this year and is on course for a full-year average broadly in line with 2024 levels. The PNZ is managed jointly by Saudi Arabia and Kuwait, with most production shipped overseas. Average exports of 341,000 b/d over the first seven months of the year are just 10,000 b/d below 2024 levels (see chart). 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 from high-level officials Assess future risks and opportunities Source link
The volume of butane gas provided by the Petroleum Gas Company (Petrogas) during the fiscal year ending in July came at 3.674 million tons, the company’s Chairman, Mohamed Farahat noted during the general assembly chaired by Karim Badawi, the Minister of Petroleum and Mineral Resources. During the same period, the company filled 313 million butane cylinders through 45 filling stations, owned by both the public and private sectors, which were provided through 3,028 distribution centres nationwide. He also mentioned that the company’s plants repaired and maintained 2.5 million cylinders for safe use and injected 175,000 new cylinders into the market.…
Kuwait’s gas production set a new monthly record of 2.07bn cfd in June (see chart 1), and is well on track to beat last year’s annual record of 1.83bn cfd for the year as a whole. Production averaged 1.85bn cfd over the first six months of 2025, the latest Jodi figures show. With associated gas output likely to rise further as Kuwait’s crude oil production increases, the full year figure could be much closer to 2bn cfd. Read this article for free Gain access to over 60-years of energy analysis and news Delve into the details backed by data Exclusive…
Baker Hughes, an energy technology company, won a long-term agreement for supplying services to bp for its Tangguh Liquefied Natural Gas (LNG) plant in Papua Barat, Indonesia. Under the 90-month deal, Baker Hughes will deliver spare parts, repair solutions, and field engineering services for essential turbomachinery—including heavy-duty gas turbines, steam turbines, and compressors—across three LNG trains, ensuring sustained reliability of the plant. The agreement reinforces the company’s role as a trusted provider of integrated solutions. The agreement extends Baker Hughes’ long-standing partnership with bp at the Tangguh LNG project, which began in 2009 and was strengthened in 2024 with a…
The exploration activities in the North Lotus Deep-1 well in Western Desert yielded positive results and it will add about 1,835 barrels of crude oil per day (b/d) and 7 million cubic feet of natural gas daily (mcf/d), which is equivalent to 3,100 barrels of oil equivalent (boe), according to a press release by the Ministry of Petroleum and Mineral Resources (MoPMR). With estimated reserves of about 5 million (boe), the well has already been put on the production map. The new well belongs to Agiba Petroleum Company, a joint venture between the Egyptian General Petroleum Corporation (EGPC) and Italy’s…
With a 50% tariff on Indian goods now in effect, the Indian government has acknowledged the potential damage and is urgently pursuing a strategy to diversify its exports. This move is seen by Indian analysts as the first countermeasure against the high tariffs imposed by the Trump administration. The Indian government is planning to reach out to 40 markets, including the UK, Japan, and South Korea, to expedite this process as a matter of urgency. The new tariffs, which came into effect on August 27, 2025, are a result of the Trump administration’s decision to add an additional 25% tariff on…
Since its IPO last year, Oman’s OQ Exploration and Production (OQEP) has been working to convince investors of its growth potential. It has a two-track strategy to expand output at existing assets and work with the government to entice more international companies to Oman and partner with OQEP. This requires demonstrating to investors that it is a resilient partner and operator in Oman’s upstream sector, and it has had successes in this over the first half of the year. Despite lower oil prices, OQEP’s shares are currently trading higher than at the start of the year. The company’s share price…
The Cooperation Petroleum Company’s (CPC) sold 9.4 million tons of petroleum products , including product gasoline, diesel, and mazut , reached 9.4 million tons in fiscal year (FY) 2024/25, according to Mostafa El Sayed, the company’s Chairman during the general assembly chaired by Minister of Petroleum and Mineral Resources, Karim Badawi, to approve the company’s results of FY 2024/25. The company operates 32 warehouses, which represent 35% of Egypt’s total storage capacity for petroleum products. It provides services at 1,232 gas stations, 373 of which have been upgraded, with 17 new stations currently being put into operation, CPC further expanded its…
The amount of crude oil refined at the Mostorod and Tanta refineries of the Cairo Oil Refining Company (CORC) reached nearly seven million tons in the fiscal year (FY) 2024/25, enough to cover the local market’s need for various petroleum products, according to Chairman El Sayed Youssef Abbas. He made that statement during the general assembly chaired by Minister of Petroleum and Mineral Resources Karim Badawi to approve the results of FY 2024/25. Abbas reviewed the company’s top projects that are currently implemented to develop the infrastructure, including the project to construct 12 containers for crude oil and petroleum products in…