CAIRO -- The Egyptian Ministry of Petroleum and Mineral Resources confirmed on Tuesday that the offshore barge "Adam Marine 12," owned by the Offshore Shukheir Oil Company, capsized earlier in the day in the Gulf of Suez.

In a statement, the ministry said it is closely monitoring the situation and coordinating with relevant authorities and companies in the area.

A team led by Minister of Petroleum and Mineral Resources Karim Badawi and Minister of Labor Mohamed Gobran has been dispatched to the site to oversee rescue operations, according to the statement.