Author: Rigs & Barge World
Saudi Aramco, one of the world’s leading integrated energy companies, has completed a $11 billion lease and leaseback agreement for its Jafurah gas processing facilities. It also agreed on buying a minority stake in a company owned by the Saudi Public Investment Fund (PIF), one of the largest sovereign wealth funds in the world. The $11 billion leaseback transaction was finalized with a consortium of global investors led by Global Infrastructure Partners (GIP). The consortium includes Hassana Investment Company, The Arab Energy Fund (TAEF), and other institutional investors. The agreement, first announced in August 2025, unlocks value from Aramco’s assets…
Egypt has encounterd a gas-bearing layer at the Zohr-9 well in the Mediterranean Sea, with an estimated output of about 70 million cubic feet per day (mmcf/d), according to Karim Badawi, Minister of Petroleum and Mineral Resources. Badawi announced the completion of drilling operations of Zohr-9 well via the Saipem 10000 drillship with full adherence to safety standards and the planned timetable. This step builds on the achievements of the Zohr-6 well and aligns with the field’s development plan. It shows the potential for future expansion phases of Zohr natural gas field, said the Ministry of Petroleum and Mineral Resources. …
Equinor achieved total equity production of 2.130 million barrels of oil equivalent per day (mmboe/d) in the third quarter (Q3) of 2025, marking a 7% increase from 1.984 mmboe/d in Q3 2024. The company attributed the production growth to strong performance from the Johan Sverdrup and Johan Castberg fields. Despite the operational surge, Equinor’s adjusted operating income for Q3 2025 recorded $6.21 billion, which resulted in $1.51 billion after tax. These financial results were negatively affected by lower liquids prices, though this was partially offset by higher production volumes and increased gas prices in the US. Additionally, the company reported…
Media release: Gas grants a critical step to ensure South Australia’s energy security | Australian Energy Producers Skip to content Source link
Karim Badawi, Minister of Petroleum and Mineral Resources, conducted a field visit to follow up on the commencement of seismic survey operations in the southern Western Desert, west of Assiut. Badawi explained that the seismic survey, launched by Ganoub El Wadi Petroleum Holding Company (Ganope) in cooperation with Saudi Ardiseis, uses modern technology to collect data on oil and gas reservoirs. The survey covers vast areas exceeding 100,000 square kilometers, representing nearly 10% of Egypt’s total area. He added that this survey will help attract investors, reduce investment risks in the new areas of the southern Western Desert, and encourage…
Renewed IOC interest could be the turning point Iraq’s oil sector desperately needs after struggling to attract investment and technical expertise over the last decade. Capacity growth has slowed dramatically in recent years, held back by infrastructure bottlenecks. Its maturing oil fields require more water injection just to sustain output, while pipeline, pumping, storage and export capacity constraints have capped upstream production growth (see chart 1). 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 Minister of Petroleum and Mineral Resources, Karim Badawi met with a group of young and middle management professionals from across the petroleum and mineral resources sector to support young talents and maintain continuous engagement with employees through open discussions that strengthen teamwork. During the meeting, held at the Ministry of Petroleum and Mineral Resources’ (MoPMR) headquarters in the New Administrative Capital, he reaffirmed the commitment to empowering young professionals as the cornerstone of the sector’s future development, stressing the importance of nurturing new generations capable of keeping pace with global advancements in energy and mining, tackling emerging challenges, and…
Media release: EPBC reforms an opportunity to fix Australia’s broken environmental laws | Australian Energy Producers Skip to content Source link
Iraq has signed a $450 million investment agreement with US-based Excelerate Energy to construct the country’s first floating storage and regasification unit (FSRU) at the port of Khor al-Zubair, officials told Reuters. The facility will enable Iraq to import, store, and regasify liquefied natural gas (LNG), which will be integrated into the national power grid to strengthen the country’s energy security. The project’s total investment includes Excelerate’s newest FSRU vessel, currently under construction in South Korea, with a regasification capacity of up to 500 million standard cubic feet per day (mmscf/d). Under the five-year agreement, which includes extension options, Excelerate…
Three commercial agreements for Eni’s 3.1tcf Cronos gas field offshore Cyprus were signed in Limassol at the EMC Conference on 20 October, taking the next step towards a potential final investment decision (FID) ahead of a targeted end-2027 start-up (MEES, 12 September). Located in Block 6, Cronos was only discovered in 2022, but has now firmly overtaken the Chevron operated 3.5tcf Aphrodite field as the most likely Cypriot field to start commercial production first. (CONTINUED – 1047 WORDS) Read this article for free Gain access to over 60-years of energy analysis and news Delve into the details backed by data…