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Egypt seals deal with Azerbaijan on refining crude in local plants

Posted: March 5, 2016 at 1:17 pm   /   Oil & Gas

The Egyptian government has reached an agreement with Azerbaijan on refining 500,000 barrels of crude oil a month in the Egyptian refineries, and exchanging Egypt’s naphtha with petrol 95. In statements to Al Mal newspaper, the head of Egyptian General Petroleum Corporation (EGPC) Mohamed Al Masry said that the agreement aims at using spare refining […]

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Infographic: Growing demand for energy (BP Energy Outlook)

Posted: March 5, 2016 at 1:09 pm   /   Oil & Gas, Renewables

Energy consumption by fuel (billion tonnes of oil equivalent) Today around 32% of energy consumed comes from oil, 30% from coal, and 24% from gas – so 86% from fossil fuels in total. Hydroelectricity accounts for 7%, nuclear for 4% and other renewables for just 3%. We believe a diverse mix of fuels and technologies […]

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Petrobel extends duty for KS Medstar-1 Jackup Rig in a new $6 million contract

Posted: March 4, 2016 at 7:37 pm   /   Oil & Gas

KS Energy Group’s Jack-Up Rig “KS Medstar-1” continues to drill in Egypt under a new contract valued at US$6 million. KS Energy Limited announced that a subsidiary of KS Drilling Pte Ltd has secured a new contract with Belayim Petroleum Company (Petrobel) for the KS Medstar 1 (300′ ILC), a 300-feet cantilever jack-up drilling rig […]

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Video: Höegh LNG Operations

Posted: March 4, 2016 at 2:00 pm   /   Oil & Gas

Höegh LNG offers comprehensive solutions through its extensive development, project management and construction skills, and  has successfully executed integrated projects for customers, which include both floating import/receiving terminals (FSRUs) and infrastructure such as mooring systems and export pip elines. Höegh LNG’s floating terminals are based on constructing new assets with the latest and most efficient technology, […]

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SacOil completes Phase 2 of Lagia Oil Field Development Programme

Posted: March 2, 2016 at 8:22 pm   /   Oil & Gas

SacOil Holdings Limited, on behalf of its subsidiary, Mena International Petroleum Company Limited (“Mena”), is pleased to announce the successful completion of Phase 2 of the development programme and the achievement of the production target of 1,000 bbl/d at its 100% owned Lagia oil field in Sinai, onshore Egypt. As reported previously, Phase 2 of […]

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Bloomberg: Eni Leads the Pack in Replacing Oil and Gas Reserves

Posted: March 1, 2016 at 7:12 pm   /   Oil & Gas

Eni SpA led all its peers in the proportion of new resources it added to offset the oil and natural gas it pumped during the year, and that’s not even counting the new “super giant” discovery off Egypt. Reserves are crucial for valuing a company because they form the basis for future output, making Eni’s […]

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EGAS to issue third FSRU tender next month

Posted: March 1, 2016 at 7:06 pm   /   Oil & Gas

The Egyptian Natural Gas Holding Company (EGAS) plans to issue a tender for a third Floating Storage and Regasification Unit (FSRU) during the second half of next month, according to an EGAS official. EGAS is seeking a vessel with a capacity to regasify over 600 million cubic feet (MMcf) of gas per day. EGAS Chairman […]

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Pharaonic Petroleum Co. to add 70 MMcf of gas from Ha'py field in April

Posted: March 1, 2016 at 5:22 pm   /   Oil & Gas

Eng. Hassan Abady, chairman of Pharaonic Petroleum Company S.A.E., said that the Fairlift vessel owned by marine installations contractor Subsea 7 has arrived loaded with umbilicals, electric and hydraulic works, cables, pipelines and fittings in preparation for the development of the East Nile Delta Phase 3 Project (END-3) of installing and tying new offshore Ha’py […]

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Beach Energy announces completion of merger with Drillsearch

Posted: March 1, 2016 at 1:37 pm   /   Oil & Gas

Beach Energy Limited is pleased to advise that all conditions relating to the scheme of arrangement to merge Beach and Drillsearch Energy Limited have been satisfied. As a result, the Scheme has been implemented and Drillsearch is now a wholly owned subsidiary of Beach. Issue of new Beach shares to Drillsearch shareholders will occur today, […]

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Zohr supergiant gas field is all on Egypt’s side, Eni says

Posted: March 1, 2016 at 1:23 pm   /   Oil & Gas

Cypriot hopes that the some of Eni’s massive natural gas find offshore Egypt last August might have crossed into the Cyprus Exclusive Economic Zone (EEZ) were dashed on Friday when the Italian oil and gas major made it clear that the gas was all on the Egyptian side. “The comprehensive formation evaluation program confirmed the […]

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