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As linking projects stall, energy companies see production rates fall

Posted: May 11, 2016 at 10:15 am   /   Oil & Gas

Egypt’s average production of natural gas declined to 3.8bn cubic feet per day in 2016 from the rate of 4.4bn cubic feet per day in 2015. A report published by the Ministry of Petroleum disclosed Egyptian gas fields’ average productivity in 2016, which has significantly decreased due to delays in plans to link gas fields […]

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Video: Siemens Oil & Gas Innovations Conference 2016 Highlight Video

Posted: May 11, 2016 at 10:15 am   /   Oil & Gas

Promotional video to highlight the Siemens 2016 Oil and Gas Innovations Conference (Source: Siemens AG)

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Eni's Chief Exploration Officer: New wells tested in the Noras field

Posted: May 10, 2016 at 7:11 pm   /   Oil & Gas

Data from west of Abo Madi revealed that there may be a presence of gas in the area. The Italian company Eni has carried out two exploration expeditions of natural gas in 2015. The explorations were conducted in the Noras field in the shallow waters of the Nile Delta, and the Zohr field in the […]

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Edison's Executive VP: Egypt has 16th largest gas reserves

Posted: May 10, 2016 at 7:03 pm   /   Oil & Gas

Egypt has the potential to become a regional center in the Mediterranean due to its strategic location, infrastructure and qualified ports for the export and import of oil and gas”, says Nicola Monti, Executive Vice President – Exploration & Production, Edison. Egypt has the 16th largest gas reserves and is the 15th largest producer of […]

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Scatec Solar to invest $650 million in 5 solar energy projects in Egypt

Posted: May 10, 2016 at 12:29 pm   /   Renewables

Negotiations with seven international banks to finance 70% of the project, most notably IFC and EBRD. Scatec Solar company seeks to pump $650m in renewable energy investments to establish five solar energy projects with a capacity of 250 MW, according to the company’s CEO Raymond Carlsen. Carlsen sat down for an interview with Daily News […]

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Eni to increase Zohr field gas production to 2 billion cubic feet per day by end of 2019

Posted: May 10, 2016 at 12:18 pm   /   Oil & Gas

From 2037, gas production will gradually decline down to 1 billion feet per day. The Italian company Eni has started to gradually link the extracted gas from Zohr field to the national grid in order for production to reach 1bn cubic feet of gas daily by 2018, which will then be doubled to 2bn by […]

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Petroleum ministry plans to raise foreign investments in Egypt to $8.5 billion in 2015-16

Posted: May 10, 2016 at 11:55 am   /   Oil & Gas

Egypt’s petroleum ministry eyes raising foreign investments in Egypt in drilling and exploration projects by US$1 billion to hit around $8.5 billion by the end of fiscal year 2015-16. Source at the ministry told Amwal Al Ghad Sunday that oil agreements that were signed with foreign partners during the last months have participated in boosting […]

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Video: Shell CEO Ben van Beurden interview with ABC News 24, Australia

Posted: May 8, 2016 at 10:43 am   /   Oil & Gas

Australian broadcaster ABC News 24’s Ticky Fullerton spoke to Shell CEO Ben van Beurden in Perth on the sidelines of the 18th International Conference & Exhibition on Liquefied Natural Gas (LNG 18), on April 12, 2016. Ben discussed the challenges created by oversupply and increased volatility in the oil market, the importance of becoming cost-competitive, […]

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OTC 2016: Egypt Rejuvenates Economy, Offers Opportunities for Oil and Gas Investment

Posted: May 7, 2016 at 12:34 pm   /   Oil & Gas

The discovery of the Zohr natural gas field, the largest in the Mediterranean region, has begun to rejuvenate prospects for the Egyptian economy. Located offshore Egypt, the Zohr field holds more than 30 Tcf of gas in place. Onshore site preparation began in March, and first gas to market is expected in December 2017. Tarek […]

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Infographic: The Mediterranean gas hub (ABO Oil Magazine)

Posted: May 7, 2016 at 12:16 pm   /   Oil & Gas

The eastern Mediterranean could become a new gas hub. The potential of recent gas discoveries in the area is truly significant and could rewrite both the political and energy future of the entire region. Europe is also watching the development of these gas fields with interest: the need for gas imports to Europe in 2030 […]

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