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Dana Gas PJSC, the Middle East’s largest regional private sector natural gas company, has received a US$50mn payment from the Egyptian Government, supporting its ongoing drilling programme in Egypt

The payment significantly reduces overdue receivables and supports the drilling programme under the Consolidation Agreement with the Egyptian Government, which was formally signed in December 2024. The agreement consolidated Dana Gas’s concessions in Egypt and provided improved fiscal terms to support new upstream investment, while also including additional acreage designated for exploration drilling.

Since the programme commenced, Dana Gas has drilled four wells, including the recent North El-Basant 1 discovery, which is estimated to hold 15 bcf of recoverable gas. These wells successfully added 18 mmscfd of production and a material increase in reserves. The company plans to drill seven further wells under the programme in 2026, with the next – the Daffodil exploration well – expected to spud in January. The 11-well programme will save over US$1bn by displacing imported LNG and fuel oil with domestic production. Egypt is heavily reliant on imported fuel, recently concluding major LNG and gas supply deals with Israel and Qatar, having seen domestic production decline in recent years. 

Dana Gas has also completed a workover programme across three wells, adding an additional 9mmscfd of production. Further assessments are underway to identify additional workover prospects for 2026.

Richard Hall, CEO, Dana Gas, said, “We are grateful to the Ministry of Petroleum and Mineral Resources, the Egyptian General Petroleum Corporation and the Egyptian Natural Gas Holding Company for their continued support. This latest payment, which will help fund our investment programme in Egypt, acknowledges the importance of timely payments to ensuring the successful delivery of our drilling programme.“Thanks to the robust support provided by the Egyptian government, our investment program is already yielding positive outcomes. We have successfully brought new gas production online, and additional wells are scheduled to follow. With the right support in place, we’re well positioned to deliver the next phases of the programme and continue strengthening Egypt’s role as a regional gas hub.”

The Ministry of Energy and Minerals (MEM) of the Sultanate of Oman has signed a Feasibility Study Agreement with Westlawn Middle East LLC (WLME) and Salamander Solutions Middle East LLC (SSME) to evaluate the potential for heavy crude oil production in Block 71 using Salamander's advanced electric heating technology

Under the agreement, WLME and SSME are granted the rights to drill appraisal wells in Block 71 to evaluate the technical and commercial viability of applying the proprietary technology to one of the country's most challenging high potential reservoirs.

The study will conmmence immediately and is expected to conclude within two years. If is is successful, the parties will look to negotiate a long-term concession agreement.

"This is our first transaction in Oman since establishing our in-country presence in 2024, and we are delighted to partner with the Ministry of Energy and Minerals and Salamander Solutions. We look forward to unlocking significant value for the country," said Chadi Letayf, executive vice president, Westlawn.

Hatem Haidar, CEO of Salamander Solutions, added, "This agreement marks a significant milestone in deploying our proprietary electric heating technology in the Middle East. We are excited to partner with the Ministry of Energy and Minerals and Westlawn to demonstrate its value in unlocking complex reservoirs."

Salamander's heater cable technology is a robust and reliable solution capable of operating at higher temperatures, higher power, and at greater lengths than previously considered possible. At the heart of every Salamander heater is a HVMI mineral insulated (MI) electrical cable with a stainless steel sheath, developed specifically to provide unprecedented heat injection levels over continuous long- or short-term deployments.

Oman is a global leader in deploying enhanced oil recovery (EOR) technologies such as thermal EOR to boost production from mature oilfields, which have been instrumental in turning around declining production.

As the Uganda National Oil Company aims to build a crude refinery, it has reached out to a unit of global commodities trader, Vitol, for a US$2bn loan to support the project alongside construction and infrastructure developments

According to Henry Musasizi, Uganda's junior finance minister, this seven-year tenor loan from Vitol Bahrain EC (VBA) comes with an interest rate of 4.92%. The minister worked on advancing the approval process for the credit line and the loan, which involved significant lawmakers, who sanctioned the development with a majority verdict.

Musasizi said that Vitol's support "presents an opportunity to access non-traditional financing to implement. ..projects and support the government in developing national infrastructure."  

Vitol Bahrain EC has a long-standing presence in Uganda's downstream sector, functioning as the sole supplier of refined petroleum products to UNOC, before the state-owned company sells it to retailers across the country.

Alongside the refinery, the loan amount will also be covering road construction, a petroleum products storage terminal and extension of a petroleum pipeline from western Kenya to Uganda's capital Kampala.

Previously, the UNOC also concluded a deal with the UAE-based Alpha MBM Investments, whereby a domestic refinery with a capacity of 60,000 barrels per day is in the pipeline. The agreement accords 60% stake on the refinery to the UAE firm while UNOC retains 40%.

Uganda is looking to begin commercial oil generation starting next year from fields in its west.

Halliburton has launched the HyperSteer MX directional drill bit, a shankless matrix-body bit that improves durability and maximises directional control, reducing well construction time and costs

The bit delivers longer runs and fewer trips, resists erosion and abrasion, and performs reliably in high-flow, abrasive environments.

HyperSteer MX directional drill bits utilise advanced matrix materials to resist erosion and abrasion, extend bit life in abrasive, high-flow environments, and improve efficiency and reliability during operations.
HyperSteer MX directional drill bits deliver precise steerability that maximises performance in vertical, curve, and lateral sections, and minimises well time and reduces well construction costs. The bit reduces trips, lowers exposure to unplanned events, and maintains directional precision in the most abrasive environments.

HyperSteer MX directional drill bits extend the HyperSteer portfolio and reflect Halliburton’s investment in innovative engineered solutions that maximise asset value.

“HyperSteer MX directional drill bits mark a major step forward in drilling. The technology combines the precise steerability of HyperSteer directional drill bits with a durable matrix body. It allows operators to drill longer in harsh environments and supports efforts to minimise well time and maximise directional performance for customers,” said Amr Hassan, vice president, Drill Bits and Services, Halliburton.

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The fossil-fuel sector offers the largest and most cost-effective opportunity for rapid methane abatement, according to the newly released Global Methane Status Report, launched on the sidelines of COP30 in Belém

Produced by the UN Environment Programme (UNEP) and the Climate and Clean Air Coalition (CCAC), the Global Methane Status Report assesses progress and remaining gaps in efforts to cut methane - a potent greenhouse gas responsible for nearly a third of current warming.

The report shows that although methane emissions are still rising, projected 2030 emissions under current legislation are already lower than earlier forecasts due to a mix of national policies, sectoral regulations, and market shifts. However, the report warns that only full-scale implementation of proven and available control measures will close the gap to the Global Methane Pledge’s target of a 30% cut from 2020 levels by 2030.

Urging decisive methane action to deliver the Global Methane Pledge, ministers attending the Global Methane Pledge Ministerial stressed that the policies, technologies, and partnerships needed to meet the target are available, but require rapid scale-up across the energy, agriculture, and waste sectors. Ministers also called for increased transparency from countries on ambition and action to track progress.

Julie Dabrusin, Canada’s Minister of Environment and Climate Change and Co-Convener of the Global Methane Pledge, said, “This report is a crucial assessment of our progress and a key indicator of the work that’s required to meet the Global Methane Pledge goal. In just four years, we have made improvements, but we must continue to drive faster, deeper methane cuts. Every tonne reduced brings us closer to cleaner air, more resilient communities, and a thriving global economy. It is important for all countries that have agreed to the Global Methane Pledge to continue to work closely together to drive momentum on methane mitigation, turning ambition into tangible benefits for the planet.”

The fossil-fuel sector is the second largest source of anthropogenic methane emissions, responsible for approximately one third of the global total. Under current legislation, emissions from the sector are expected to rise by 8% in 2050 compared to 2020. This sector presents the single greatest potential for rapid, cost-effective methane abatement, according to the report. These reductions could be achieved through readily available technologies and practices, often at low cost.

Since the launch of the GMP, methane abatement policies in the oil and gas sector have become more innovative and widespread, while voluntary initiatives such as the Oil and Gas Methane Partnership (OGMP) 2.0 now cover up to 45% of global oil and gas production.

The rate of policy development and country participation, however, still fall short of what is needed to achieve the 2030 targets. Implementation and enforcement must also be strengthened.

The recent adoption of novel approaches, such as the European Union import standard, offers the potential to use the market to mitigate methane in oil and gas sector more rapidly at the global scale.

Bridging the methane policy gap in the fossil fuel sector calls for strong implementation of existing policies, continuous capacity building, increased ambition from additional producing countries, ramped up technical support and innovative financial mechanisms to facilitate mitigation in developing countries.

Key measures recommended include:

• enhancing monitoring, reporting and verification (MRV) systems across all fossil fuel operations
• expanding the use of direct measurement protocols and corroborated satellite data which could improve the accuracy and transparency of inventories
• expanding leak detection and repair (LDAR) programmes in oil and gas, which not only help reduce leaks but also enhance data quality for inventories and enhance workplace safety and asset integrity;
• ensuring proper sealing techniques during well closure, given methane emissions from abandoned wells can continue for decades after activities cease;
• strengthening enforcement mechanisms with the establishment of clear accountability structures, penalties for non-compliance and independent oversight;
• facilitating access to finance and capacity building;
• harnessing import standards as market leverage, creating a clear incentive for producing countries to adopt stronger mitigation practices; and
• leveraging international and bilateral frameworks for capacity and alignment.