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Image by photosbyjim via iStock Anacortes, Washington-based Pacific Petroleum Operating LLC said it completed its acquisition of a portfolio of oil-producing assets located in Wyoming from a portfolio company of an undisclosed private equity group for a total purchase price of $9.65 The structure for Pacific Petroleum leverages a U.S.
The Western Desert Operating Petroleum Company (WEPCO), an Egyptian state‐established energy firm, has raised its daily natural gas output to 8,300 barrels of oil equivalent per day (boe/d) following the integration of the 5st-10 development well at the Badr-1 field onshore the Western Desert.
The current reforms represent an attempt to carry out a complete reversal of the economic model of the industry, aimed at increasing its investment attractiveness and long-term sustainability. In the field of production, the Anabai, Vostochny Urikhtau and Rozhkovskoye fields were commissioned by the end of 2023.
Their technology helps you to rebook reserves, extend the life of your field, and is fully compatible with other EOR techniques to push even higher yields and field-life extension. The team left corporate energy to build what the industry truly needs, intelligent, scalable, and sustainable technology for modern oilfield operations.
The transaction effectively establishes a fully connected NGL corridor stretching from Western Canada to Eastern Canada, with export connectivity via liquefied petroleum gas (LPG) terminals on the West Coast. We’re committed to reducing emissions intensity and embedding sustainability into all aspects of our operations,” said Setoguchi.
As the world shifts toward a more sustainable future, addressing carbon emissions remains a top priority. The ReFuelEU Aviation policy sets a sustainable aviation fuel (SAF) blending mandate that increases from 2 percent in 2025 to 34 percent in 2040 and 70 percent in 2050. 3 Assuming a 4.3 CO 2 capture What is biogenic CO 2 ?
Perenco’s acquisition included the Australian exploration and production company’s operating stakes in the shallow-water Angostura and Ruby oil and gas fields, which produce about 300 million standard cubic feet a day (MMscfd) of gas or around 12 percent of the Caribbean country’s national gas production, according to Perenco.
Numerous protectors are manufactured to meet strict criteria, including American Petroleum Institute (API) standards, ensuring they deliver safety, dependability & regulatory compliance. Eco-Friendly Option Various composite thread protectors are made using recycled materials & can also be recycled after use.
Production Engineers need to balance technical expertise, operational efficiency, and safety measures to ensure the optimal and sustainable production of oil and gas resources. Conducting research and participating in training to improve skills and knowledge in production engineering.
As major North American unconventional plays approach maturity, the industry faces a critical challenge in sustaining production levels and reserve replacement. The Emerging Basin Challenge The consolidation trend within the petroleum industry reflects the increasing scarcity of high-quality unconventional opportunities.
But in the shale oil fields of Texas, North Dakota and New Mexico, executives are unlikely to change their capital budgets based on abrupt price moves, according to Peter McNally, an analyst at Third Bridge U.S. It’s not just about price — it’s about the sustainability of that price,” McNally said.
The agreements aim to enhance cooperation in petroleum operations and services, training and expertise, the two companies said. Another According to NOC, the two companies will explore the provision of petroleum services in Algeria, Libya, and abroad. To contact the author, email andreson.n.paul@gmail.com What do you think?
The National Iranian Oil Refining and Distribution Company said refining facilities and oil storage did not sustain any damage in the attacks. Iran, the third largest producer in the Organization of the Petroleum Exporting Countries, extracts about 3.3 million barrels of oil per day (bpd), or around 3% of global output.
He highlighted that this project is a major challenge for sustaining production in the Zohr Field. During his visit, Khafagy reaffirmed that the Zohr Field is a national project and one of Egypt’s most important natural gas fields, continuously being developed to enhance production.
It also opens new horizons for export to foreign markets, capitalizing on the growing global demand, especially with the petroleum sector having the technical and logistical components needed for success. The project aims to meet the local demand expected for this type of green fuel over the next few years.
On the sidelines of CERAWeek 2025, Minister of Petroleum and Mineral Resources Karim Badawi held meetings with CEOs of international companies to discuss production and investments. The post Egypt, Global Energy Leaders Hold Talks on Field Development, Production, Investments at CERAWeek 2025 first appeared on Egypt Oil & Gas.
On the sidelines of the OMC Med Energy Conference and Exhibition 2025 in Italy, Minister of Petroleum and Mineral Resources Karim Badawi met with Mohamed Arkab, the Minister of Energy, Mines, and Renewable Energy of Algeria, and his accompanying delegation.
The workshop discussed the future of the Zohr field project and production sustainability, with a focus on the third phase of the project. Furthermore, initial estimates indicate it will add approximately one trillion cubic feet (Tcf) of natural gas to the field’s reserves.
(BOE Report) –NEW YORK (Reuters Breakingviews) Oil fields are just as quick to make fortunes as break them. The 1901 Spindletop gusher in Texas jumpstarted the petroleum age, crashing oil prices. A mere two years later, over-extraction drove the field into decline. There are signs that the peak is already at hand.
During his visit to Germany, Minister of Petroleum and Mineral Resources Karim Badawi participated in the 11th edition of the Berlin Energy Transition Dialogue on the 18th and 19th of March. This includes the implementation of several projects, such as solar energy projects and wind power plants in the Gulf of Suez region.
Minister of Petroleum and Mineral Resources Karim Badawi participated in a roundtable discussion organized by the US Chamber of Commerce in Washington coming in line with strengthening strategic relations between the two countries in the energy sector.
Stephen Robertson, executive vice president of Permian Basin Petroleum Association, added, By adapting conveyor technology … Atlas has significantly reduced truck traffic on public roads in Permian Basin. This not only minimizes environmental disruption but also enhances safety and efficiency.
She also emphasized the vital role of the Women in Energy Network among the petroleum sector. Also, the event witnessed interactive breakout session where the attendees selected the preferred topics to that face the women who are working in the petroleum sector to discuss in groups and find the possible solutions.
He also expressed interest in expanding partnerships and exploring new opportunities to support future growth in the Egyptian natural gas exploration and production fields. The post Badawi Meets with Energean CEOs, Fosters Cooperation Opportunities first appeared on Egypt Oil & Gas.
What many in the industry choose to describe as a 'bridging fuel', is a medium the Indian government, and indeed many others, appear comfortable in embracing to wean them off coal and help with a shift to more sustainable sources.
This decrease is linked to the natural decline in the Tweneboa, Enyenra, and Ntomme (TEN) field, leading to an escalation in the gas-to-oil ratio and water production in the Jubilee and Sankofa fields. million barrels, the TEN field produced 5.02 million barrels, and the Sankofa-Gye Nyame field yielded 8.46
The Ministry of Petroleum and Mineral Resources, in cooperation with the Japan International Cooperation Agency (JICA), held the second meeting of the Joint Coordination Committee (JCC) for the Project for Capacity Development on Energy Efficiency and Conservation, at its headquarters in Egypt’s New Administrative Capital.
On the sidelines of his participation in CERAWeek 2025, held from March 10-14, 2025, in the USA, Minister of Petroleum and Mineral Resources Karim Badawi held a meeting with Director General for Economic Policy in the German Federal Ministry for Economic Affairs and Energy and Ministry Coordinator for Sustainable Development.
Spanning over 2,000 km of offshore fields along the maritime border between Malaysia and Vietnam, the PM3 CAA stands as a model of long-standing cross-border energy cooperation. Bacho Pilong, Senior Vice President of Malaysia Petroleum Management (MPM) at PETRONAS, and Le Manh Cuong, Vice President of PETROVIETNAM.
The results were announced during the company’s general assembly meeting, held in the presence of the Minister of Petroleum and Mineral Resources Karim Badawi, along with officials from the petroleum sector. MOPCO also holds 20% of the shares in the Egyptian Sustainable Aviation Fuel (ESAF) Company. per share.
This came during the general assembly meeting of the Middle East Oil Refinery (MIDOR), attended by the Minister of Petroleum and Mineral Resources, Karim Badawi, to discuss and review the companys fiscal year results in 2024. He praised MIDORs contributions to hard currency earnings, local market stability, and sustainable growth.
billion in 2027 2029, before returning to sustaining expected capital of $0.8 Field Operating Income is a common metric used in the oil and natural gas industry to assess the profitability and efficiency of the Companys field operations. The following table reconciles Field Operating Income to the nearest GAAP measure.
The event was graced by the attendance of His Excellency Karim Badawi, the Minister of Petroleum and Mineral Resources. I have been privileged during my career by working in the field, in different countries, and in different environments. I worked personally with a lot of very successful men and women.
BP (British Petroleum) Central to the success of the BTC Pipeline, which diversified Europes oil supply routes. With techniques like CO injection and steam flooding , EOR extended the life of aging fields by decades. Boosting Recovery: EOR methods increased recovery rates by up to 60%, reviving fields that had been written off.
When I later had the chance to move to Edinburgh to undertake a PhD in petroleum engineering, I leapt at the opportunity to fully immerse myself in a new culture while continuing my studies. The momentum for change continues to grow worldwide as nations and industries collectively focus on more sustainable energy solutions.
Our combined company will include exceptional technical and support personnel from the two companies in both the office and field and an experienced Board of Directors that prioritizes sustainable and profitable growth to generate strong returns for our combined shareholders.
Between turbulent economic market conditions and the transformation of the global energy landscape, upstream oil and gas organizations face increasing pressure to exploit new finds and enhance recovery from existing fields. Reaching sustainable growth requires doing more with less and moving faster.
Occidental Petroleums Acquisition of CrownRock Value: $12 billion Date: March 2024 Occidental acquired CrownRocks 70,000 acres in the Permian Basin, adding 50,000 boe/d to its production. Technological breakthroughs in efficiency and sustainability, shaping the next chapter of energy production.
Gulf Keystone Petroleum (GKP) today announced its results for the full year ended 31 December 2024. We have sustained our positive momentum into 2025, with year to date gross average production of c.46,400 By John Lee. Shares were trading up more than two percent at lunchtime. million in 2024 (2023: $50.1 bbl (2023: $40.9/bbl)
It was able to control production after the Texas National Guard occupied the oil fields in East Texas. To do so, they needed revenues to transform their economies through sustainable development. In Texas, policymakers gave the Texas Railroad Commission the authority to monitor and manage production.
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