Author: Rigs & Barge World
Egypt is close to agreeing the $420mn sale of the state-owned 580MW Gebel El Zeit wind farm on the Gulf of Suez, marking the first significant asset sale of Cairo’s privatization program (MEES, 19 September 2025). Dubai-headquartered infrastructure investor Alcazar is the reported buyer, according to Egyptian business portal Enterprise News, citing a government source. Reducing state involvement in the economy through a privatization program has been a key condition of the IMF’s $8bn loan package program, but progress has been extremely slow (MEES, 8 March 2024). (CONTINUED – 661 WORDS) Read this article for free Gain access to over…
*Egypt’s Petroleum Ministry data for 4Q 2025 shows the struggle Egypt is facing as it hopes to increase gas output. After posting its first quarterly increase in three years for Q3, output dropped again in Q4 to a nine-year low 4.15bn cfd, the data shows (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
Minister of Petroleum and Mineral Resources, Karim Badawi, met with Agostino Palese, the Italian Ambassador to Cairo, to discuss ways to enhance cooperation between the two countries in the oil and gas sector and to follow up on the implementation status of petroleum projects in which Italian companies operating in Egypt are involved. During the meeting, Badawi noted that the partnership with the Italian side represents a successful model of constructive cooperation in the Mediterranean region. He pointed to the strategic role Eni has played as Egypt’s partner for more than 70 years. The meeting reviewed the investment opportunities available…
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Through a consortium, Eni and QatarEnergy have won the offshore exploration License O1 as part of Libya’s National Oil Corporation (NOC) 2025 competitive bid round, further consolidating their upstream footprint in the country. The offshore block spans around 29,000 square kilometers (km2) and is located in the marine extension of the prolific Sirte Oil and Gas Basin. The area is considered highly prospective, with significant zones still lacking 3D seismic data and the potential for additional hydrocarbon discoveries. Existing indications within the block include previously identified, but undeveloped, oil and gas finds. Under the agreement, Eni will act as operator…
Through Malaysia Petroleum Management (MPM), Petronas has officially launched the Malaysia Bid Round 2026 (MBR 2026) under the theme “Advantaged Energy: Accelerating and Shaping Tomorrow,” as part of efforts to reinforce Malaysia’s standing as a leading destination for upstream investment. The 2026 bid round features nine exploration blocks across the country, offering a diverse portfolio of opportunities. These include a high-impact frontier block in the Sandakan Basin, promising acreage in the emerging West Sarawak Basin, and near-field exploration blocks in the mature Malay Basin supported by new play concepts. The offering is designed to attract investors seeking a mix of…
Media release: Australian oil and gas sector congratulates Opposition Leader Angus Taylor | Australian Energy Producers Skip to content Source link
United Energy Egypt (UEE) has signed a cooperation protocol with Misr El Kheir Foundation to support healthcare services and launch the UEE Technical and Vocational Education Center in Ras Gharib, as part of its commitment to advancing sustainable development and empowering local communities The cooperation includes the development of the blood bank, emergency unit, and radiology unit at Ras Gharib Central Hospital, aiming to enhance the quality and efficiency of healthcare services provided to citizens. Furthermore, the partnership includes the launch of the United Energy Vocational & Technical Training Center, a dedicated facility designed to provide young people with hands-on…
Karim Badawi, Minister of Petroleum and Mineral Resources, has met with a high-level delegation from Italy’s Eni, including Diego Portuguese, Head of North Africa and Levant region, to discuss ongoing operations in Egypt, especially the project to tie in Cyprus’ Cronos gas field to Egyptian gas and liquefaction facilities. The government is prioritizing the development of an attractive business model with investment incentives aimed at doubling crude oil production, Badawi noted. He stressed the importance of adopting non-traditional work approaches and utilizing modern technologies to achieve a significant boost in production rates. Badawi praised the level of cooperation with the…
Shell Egypt has announced the commencement of its 2026 Mediterranean drilling campaign following the arrival of the Stena IceMAX drillship. Operated by Stena Drilling, the vessel will execute a multi-well program, starting with the Mina West development wells and the Sirius exploration prospect, followed by the Velox exploration well. “This is a crucial operational milestone for Shell in Egypt and for the country’s energy sector. The arrival of Stena IceMAX enables the next phase of our drilling campaign in the Mediterranean, supporting the advancement of Mina West and our wider exploration portfolio. These activities align with Egypt’s strategic ambitions as…