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Turkey and Somalia solidified their bilateral ties by signing an oil and gas exploration agreement. This significant development marks a pivotal moment in the relationship between the two nations, opening doors for enhanced cooperation in energy development. #Turkey #Somalia #Oil #Oildeal https://lnkd.in/evTYQfty

National Oil Corporation Prepares for Upcoming General Bidding Round to Boost Production ?? The Chairman and Board members of the National Oil Corporation (NOC) held a key meeting to review the final preparations for the highly anticipated general bidding round. This round will focus on enhancing production capacity and opening new exploration areas. ?? The expert team presented a detailed update on the progress made and outlined the next steps for the official announcement coming soon. This initiative is part of the NOC’s broader strategy to increase production and expand exploration efforts. The Board members expressed their appreciation for the team's hard work and dedication in making this crucial project a reality. This marks a significant step forward in advancing the energy sector and securing a strong future for Libya’s oil industry. For more details, click the link in the comments below! ?? #OilAndGas #EnergySector #Libya #Exploration #Production #NOC #BiddingRound #EnergyDevelopment

This article talks about a joint venture between Turkey and Somalia for oil and gas exploration. This is meant to benefit both parties by allowing Turkey access to natural resources that otherwise makes them dependent on other countries, while helping develop Somalia in exchange. This is a strong reminder that the industry and its players are almost always changing. However, it also demonstrates the power of having untapped hydrocarbons. While this deal definitely acts a as a benefit for Somalia, as they do not have the resources to obtain the oil themselves, it also runs the risk of giving up the potential benefit that their field could have had in the future. #pge301

Eni and BP return to Libya after 10-year hiatus. Europeans resume hydrocarbon exploration on Libyan soil. Oil giants Eni (Italy) and BP (UK) are returning to exploratory drilling onshore Libya after a ten-year hiatus, the local state corporation NOC said. In addition, OMV (Austria) and Repsol (Spain) are also planning to return to the country. Recall that Libya reopened its oil taps and resumed supplies early last month after the resolution of a dispute over the new head of the central bank. Content Author: https://lnkd.in/e_h9wrp6 Source: https://lnkd.in/et9MaBfy #butov #oilgasmarket #oilgasworld #innovation #management #humanresources #technology #digitalmarketing #entrepreneurship #careers #socialmedia #socialnetworking #futurism #startups #branding #advertisingandmarketing #creativity #marketing #sales #motivation #energy #money #sustainability #productivity #gettingthingsdone #leadership #education #strategy #business #europe #mindfulness #inspiration #engineering #africa #india #europeanunion #china #smallbusiness #success #production #oilandgas #collaboration #contentmarketing #research #globaltrade #onlineadvertising #dubai #kenya #abudhabi #socialmediamarketing #manufacturing #climatechange #oilandgas #work #oilgas #science #logistics #hydrocarbons #shipping #growth #uae #marketresearch #oil #oilindustry #oilandgasindustry #agriculture #designer #oilfield #oilindustry #petroleum #trading #gas #chemistry #chemical #petrochemical #agro #refinery #import #export #industrial #agribusiness #quality

Farhat Bengdara, head of Libya’s National Oil Corporation (NOC), unveiled an $18 billion initiative to revitalize the nation’s oil sector through 45 new projects. Speaking with Reuters, Bengdara detailed plans for an imminent bidding round targeting major global oil companies, set to commence by year-end or early next year. Emphasizing NOC’s strategic operations nationwide, Bengdara stressed its autonomy and collaboration with various government bodies. He also highlighted NOC’s venture into solar energy for domestic use and potential exports to Europe, while recognizing the underutilized capacity of the #gas #pipeline to #Italy. Expressing confidence in Libya’s capacity, Bengdara aims to restore production to 1970s levels of 3.4 million barrels per day, shared at the International Energy Week in London. He anticipates significant participation from major oil firms in the forthcoming exploration rights tender. Libya’s exploration into solar energy aligns with global trends, aiming to diversify energy sources. With room for expansion in gas pipeline utilization, Libya aims to strengthen its role in the international energy market. NOC’s investment plan signals a turning point for Libya’s oil sector, aiming to surpass historical production levels, despite past setbacks from political instability and infrastructure challenges. The anticipated exploration tender signifies Libya’s progress in attracting international investment, fostering a more stable and attractive oil sector. These initiatives, coupled with diversification efforts, position Libya to leverage its vast energy resources for sustainable development and a strong position in the global energy landscape. #oilproduction #energía #energysector #libya #oilandgasindustry #petroleum #invesment #oilandgascompanies #oilandgasexploration #energymarkets #menaregion #oilprices #tankers

Farhat Bengdara, head of Libya’s National Oil Corporation (NOC), unveiled an $18 billion initiative to revitalize the nation’s oil sector through 45 new projects. Speaking with Reuters, Bengdara detailed plans for an imminent bidding round targeting major global oil companies, set to commence by year-end or early next year. Emphasizing NOC’s strategic operations nationwide, Bengdara stressed its autonomy and collaboration with various government bodies. He also highlighted NOC’s venture into solar energy for domestic use and potential exports to Europe, while recognizing the underutilized capacity of the #gas #pipeline to #Italy. Expressing confidence in Libya’s capacity, Bengdara aims to restore production to 1970s levels of 3.4 million barrels per day, shared at the International Energy Week in London. He anticipates significant participation from major oil firms in the forthcoming exploration rights tender. Libya’s exploration into solar energy aligns with global trends, aiming to diversify energy sources. With room for expansion in gas pipeline utilization, Libya aims to strengthen its role in the international energy market. NOC’s investment plan signals a turning point for Libya’s oil sector, aiming to surpass historical production levels, despite past setbacks from political instability and infrastructure challenges. The anticipated exploration tender signifies Libya’s progress in attracting international investment, fostering a more stable and attractive oil sector. These initiatives, coupled with diversification efforts, position Libya to leverage its vast energy resources for sustainable development and a strong position in the global energy landscape. #oilproduction #energía #energysector #libya #oilandgasindustry #petroleum #invesment #oilandgascompanies #oilandgasexploration #energymarkets #menaregion #oilprices #tankers

Breaking; Economic Blow to Isrel: Chevron Suspends Leviathan Gas Pipeline Project Due to War with Hez.bo!lah Isrel's ambitions for increasing its gas exports have faced a significant setback as #Chevron suspends work on the third pipeline of the Leviathan gas field. The project, intended to boost Isrel’s daily gas supply by 0.2 BCF, has been delayed until at least April 2025 due to the ongoing war in the north. This delay will impact Isrel’s gas exports significantly, reducing the supply flowing primarily to Egypt and Jordan. Although domestic consumption won’t be affected, it’s clear that Isrel’s energy expansion plans are crumbling under the weight of the current war. NewMed Energy admitted the delay will have a "material negative effect" on the cash flow expected in 2025. Isrel's efforts to expand its regional power through gas exports are faltering. Once again, war exposes the fragility of their economic and strategic ambitions. Source: Hebrew Business NOTE: Also known as Occupied Palestinian Gas

Somalia and Turkey Sign a Historic Hydrocarbon Agreement In a landmark move, Türkiye and Somalia have signed a significant hydrocarbon exploration and production agreement in Istanbul. This agreement, signed by Türkiye's Energy and Natural Resources Minister Alparslan Bayraktar and Somalia's Petroleum and Mineral Resources Minister Abdirizak Omar Mohamed, marks a crucial step in strengthening economic cooperation between the two nations. The collaboration will focus on exploring Somali maritime blocks, showcasing the growing partnership and mutual interests in the energy sector. #Somalia #Turkey #oil #Oildeal #Hydrocarbon https://lnkd.in/egpFg7z4

While the Biden administration is furiously trying to shut down domestic U.S. oil, gas and coal usage, China is securing long term supplies of foreign oil and gas. And China also tries to sell the West EVs and solar panels to mess up the Western electric grid. ====================== "Iraq launched a licensing round on Saturday for 29 oil and gas projects to develop huge gas reserves to help provide electricity to the country and attract foreign investments worth billions of dollars. The exploration regions are spread throughout 12 governorates in western, southern, and central Iraq. An Arabian Gulf marine exploration area is included for the first time. ... China’s Zhenhua Oil won a bid to develop the Al-Qarnain field on the border between Iraq and Saudi Arabia, while the Chinese-based United Energy Group was awarded a contract to develop the Al-Faw field in the southern Iraqi governorate of Basra. Geo-Jade Petroleum, a Chinese oil exploration and production company, won a bid to develop Iraq’s Zurbatiya field in Wasit governorate in eastern Iraq. ..." https://lnkd.in/g5-YduQx

?? Iraq Engages Gazprom Neft for Development of the Nasiriya Field ? The Iraqi authorities are offering Gazprom's subsidiary to expand its presence in the country. Iraq plans to enter into a contract with Gazprom as a single candidate to carry out the project to comprehensively develop the field.?Iraq's Oil Ministry has been tasked with preparing the agreement. ?? ? The Nasiriyah field is located in the south of Iraq in the province of Dhi Qar near its administrative center. Production began there back in 2009, with total oil reserves estimated at 4 billion barrels. ? ?? Gazprom Neft already has its presence in the country – it is developing the Badra field, located in Wasit province in eastern Iraq. According to preliminary estimates, the geological reserves of hydrocarbons amount to 3 billion barrels, the Russian company owns 30% of them. #iraq #gazpromneft #oilgas #oilandgas #news #oilfield #exploration