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BP CEO

BP to spend $2.8bn in Abu Dhabi, Egypt to boost Middle East presence

Posted: November 12, 2018 at 1:29 pm   /   Oil & Gas

Oil major BP aims to spend $1.8 billion in Egypt next year and $1bn annually in Abu Dhabi as it looks to expand its operations in the Middle East on the back of new discoveries and licensing rounds, according to its chief executive. BP, one of the world’s largest oil companies and the earliest explorer […]

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LNG-Plant-Idku

Shell exporting 300 mmcf/d of natural gas from Idku LNG plant

Posted: November 12, 2018 at 1:25 pm   /   Oil & Gas

Shell processing 300 mmcf/d of gas at Idku liquefaction plant – sources: Royal Dutch Shell’s Idku liquefaction plant is reportedly processing 300 mmcf/d of natural gas, compared to 250 mmcf/d last month, sources close to the matter said yesterday. Natural gas earmarked for exports also increased by around 50 mmcf/d due to lower local consumption levels […]

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TransGlobe

TransGlobe Energy sets 2019 Capital Budget for Egypt at $24.1 million

Posted: November 11, 2018 at 2:27 pm   /   Oil & Gas

TransGlobe Energy Corporation announces the 2019 plan and capital budget. HIGHLIGHTS 2019 capital budget of $34.1 million (before capitalized G&A) Egypt $24.1 million Canada $10.0 million (C$13.0 million) 2019 production of 14.0 to 15.0 MBoepd with a mid-point of 14.5 MBoepd Egypt 11.6 to 12.4 MBopd in 2018 Canada 2.4 to 2.6 MBoepd in 2018 […]

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SBGS-Manta-ROV

Seabed, ARGAS to acquire Red Sea 3D data for Saudi Aramco

Posted: November 8, 2018 at 1:59 pm   /   Oil & Gas

Seabed Geosolutions and ARGAS will conduct a 3D ocean bottom node survey in the Red Sea. This will involve acquiring and processing 3D data over a large area in various water depths, using Seabed’s 4C Manta ocean bottom nodes and ROV deployment system in deep waters and node-on-a-wire system in shallower areas. The program should […]

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energymarket_stock

15% reduction in oil & gas production costs in Egypt

Posted: November 8, 2018 at 1:54 pm   /   Oil & Gas

The Ministry of Petroleum succeeded in cutting the cost of producing oil and gas by 15%, which saves substantial funds and increases production. A source at the Ministry of Petroleum and Mineral Resources told Daily News Egypt that a programme was developed to cut production costs through increasing reliance on local products and companies in […]

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Onshore Rig

ADES acquires 12 onshore drilling rigs from Weatherford in Kuwait

Posted: November 3, 2018 at 2:00 pm   /   Oil & Gas

ADES International Holding Ltd. has completed the acquisition of twelve onshore rigs from Weatherford International Plc in Kuwait, the company said on Nov. 2. The transaction forms part of the previously signed definitive agreement with a subsidiary of Weatherford to acquire thirty-one onshore drilling rigs for a total consideration of $287.5 million across Kuwait, Saudi […]

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ACWA

Egypt signs $2.3 billion power plant deal with Saudi ACWA Power

Posted: November 3, 2018 at 1:51 pm   /   Electricity & Power

Egypt signed a deal with Saudi Arabian utility developer ACWA Power on Thursday to build a $2.3 billion power plant in the country’s south, the Egyptian electricity minister said. The plant, which will have a capacity of 2,250 megawatts (MW), will be built in Luxor province, the minister, Mohamed Shaker, told a news conference. He […]

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Zohr Plant

Eni estimates investment in Zohr gas processing plant at $5 billion

Posted: November 3, 2018 at 1:47 pm   /   Oil & Gas

Italian Eni has estimated the cost of implementing the Zohr gas treatment plant to be $5bn, with a capacity of 3.2bn cubic feet of gas daily, in order to connect the production of the project that is estimated to be 2.9bn cubic feet. A source at the oil sector told Daily News Egypt that implementing […]

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Polarcus

Marine seismic players optimistic as exploration budgets ‘likely to increase’

Posted: November 3, 2018 at 1:37 pm   /   Oil & Gas

Oslo-listed marine seismic data providers TGS and Polarcus are hoping 2019 will be a year of a more significant recovery for seismic players, as they expect the oil and gas companies to boost their exploration budgets on the back of higher oil prices. The two companies on Thursday posted the results for the third quarter […]

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TechnipFMC

TechnipFMC provides details on MIDOR refinery expansion contract

Posted: November 3, 2018 at 1:16 pm   /   Oil & Gas

TechnipFMC PLC has confirmed details of its scope of work on an earlier awarded let by the Egyptian government for implementation of the expansion at state-owned Middle East Oil Refinery Co.’s (Midor) 115,000-b/d refinery in El Amreya Free Zone, Alexandria, Egypt. As part of the more than $1-billion contract, TechnipFMC will provide engineering, procurement, and […]

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