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BW Singapore LNG FSRU in full operation in Ain Sokhna, Egypt

Posted: January 27, 2016 at 1:19 pm   /   Oil & Gas

In continuation of press release dated 4 August 2015 where BW announced the winning of an EGAS tender for the provision of regasification services in Ain Sokhna, Egypt, LNG Floating Storage and Regasification unit (FSRU) BW Singapore has been in full operation since October 2015. The vessel was delivered and commissioned in three months from […]

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Eni CEO Claudio Descalzi at "Middle East and North Africa Energy"

Posted: January 26, 2016 at 8:39 pm   /   Oil & Gas

Eni CEO is one of the speakers, along with the Secretary General of OPEC, HE Abdalla Salem El-Badri, at the opening session of the “Middle East and North Africa Energy” 2016 conference, to be held at Chatham House in London, on 25 and 26 January. Eni is a gold sponsor of the conference that offers, […]

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Nostra Terra and Independent Resources provide update on East Ghazalat concession

Posted: January 26, 2016 at 7:31 pm   /   Oil & Gas

Nostra Terra and Independent Resources plc make the following announcement in relation to the East Ghazalat concession in Egypt: North has served a notice of default pursuant to the terms of the JOA (joint operating agreement between North and the JV which governs East Ghazalat) in respect of unpaid cash calls for November and December […]

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Bapetco's budget ratified as Shell increased investment to $438 million this year

Posted: January 26, 2016 at 7:10 pm   /   Oil & Gas

Drilling of 14 exploratory and developmental wells with 100% of drilling plan achieved during first half of current fiscal year. Badr El Din Petroleum Company (Bapetco) General Assembly Meeting, chaired by Eng. Tarek El-Molla, Minister of Petroleum and Mineral Resources, ratified the company’s amendment to the fiscal year 2015/2016 budget, and also ratified the budget […]

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Egyptian Refining Co to start output at country's largest refinery in Q1 2017

Posted: January 24, 2016 at 1:00 pm   /   Oil & Gas

The Egyptian Refining Company, a subsidiary of one of Egypt’s largest investment companies Qalaa Holdings, will start production at its $3.7 billion oil refinery in the first quarter of 2017, managing director Mohammed Saad said. The refinery, which has a capacity to produce 4.2 million tons of refined products annually, the largest in Egypt, will […]

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Eni completes sale of 12.5% of Saipem share capital to Fondo Strategico Italiano

Posted: January 23, 2016 at 5:40 pm   /   Oil & Gas

The Shareholders Agreement between Eni and FSI has taken full effect With reference to the sale and purchase agreement between Eni S.p.A. and Fondo Strategico Italiano S.p.A., the object of which is the sale, from Eni to FSI, of a stake in Saipem S.p.A. share capital, consisting of n. 55,176,364 ordinary shares, equal to 12.5% […]

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Eni partners for Zohr gas development known this year

Posted: January 20, 2016 at 2:45 pm   /   Oil & Gas

New development partners for Egypt’s mega gas find will be announced this year, according to Italy’s Eni. The company said that it had received interest from “several companies” to help develop the Zohr discovery, which is one of the largest gas finds in the Mediterranean. Fuad Krekshi, Eni executive vice president of the Middle East, […]

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BP remains ambitious on gas in Egypt despite weak oil prices

Posted: January 20, 2016 at 12:43 pm   /   Oil & Gas

Britain’s BP Plc aims to double natural gas production in Egypt in the next four years despite weak oil prices as Egypt’s burgeoning energy market offers hope for its battered economy. Egypt is on a drive to ramp up oil and gas production – aggressively signing exploration contracts, renegotiating production prices, and lobbying companies to […]

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EGAS to hold international tender for 11 oil and gas blocks

Posted: January 18, 2016 at 2:57 pm   /   Oil & Gas

Egypt will hold an international tender for 11 oil and natural gas exploration blocks in the Mediterranean sea and Nile Delta during the second half of fiscal year 2015-2016, Khaled Abdel Badie, head of state-owned EGAS said in a statement on Sunday. Egypt, which used to be a net energy exporter, has turned into a […]

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Five year plan for Egypt's oil sector revealed

Posted: January 17, 2016 at 3:36 pm   /   Oil & Gas

During the previous fiscal year (FY) 2014/2015, the oil and gas demand increased by 0.5m tonnes to a total of 73m tonnes. The share of demanded oil was 38m tonnes, of which 36% was fuel oil, 36% was gas oil, 16% gasoline, and 11% LPG. The Egyptian government has been taking several steps to manage […]

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