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Tag: BP

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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Subsea 7 awarded sizeable BP offshore platform extension and tie-in contract

Posted: December 30, 2015 at 2:21 pm   /   Oil & Gas

Subsea 7 has secured a contract by Burullus Gas Company S.A.E. for the platform extension and tie-in on the first phase of the West Nile Delta development of the Taurus and Libra fields by BP, offshore Egypt. Engineering and project management work will start immediately and will be undertaken at Subsea 7’s Cairo office and Subsea 7’s Global […]

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Bechtel discusses possibilities of participation in energy projects

Posted: December 15, 2015 at 9:02 pm   /   Oil & Gas

The Minister of Petroleum and Mineral Resources, Eng. Tarek El-Molla discussed with David Welch, Bechtel’s Senior Vice President and President of the Europe, Africa and Middle East Region, current and future projects in the oil, gas and petrochemicals sectors. Discussions covered the possibility of participation by Bechtel in the implementation of new projects and investment […]

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BP to acquire additional interest in the West Nile Delta project

Posted: December 9, 2015 at 6:34 pm   /   Oil & Gas

BP Egypt has announced the completion of its acquisition of 22.75 per cent in the North Alexandria Concession and 2.75 per cent in the West Mediterranean Deep Water Concession from Hamburg-based DEA Deutsche Erdoel AG. The acquisition will bring BP’s working interest in both concessions of the West Nile Delta project to 82.75 per cent. […]

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Farm-down completed – DEA remains strong partner in the West Nile Delta project

Posted: December 9, 2015 at 6:28 pm   /   Oil & Gas

DEA Deutsche Erdoel AG has completed the farm-down of its stake in the West Nile Delta (WND) project in Egypt. Its share in all WND fields is now equalized at 17.25%. The share reduction was part of the company’s portfolio optimization. DEA remains committed to Egypt’s energy production. The WND development of five trillion cubic […]

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Eni signs new concession and amendment agreements for petroleum exploration in Egypt

Posted: November 13, 2015 at 2:00 pm   /   Oil & Gas

Eni signed a new concession and three amendment agreements in Egypt which will lead to the realization of projects to be implemented in the next 4 years. Eni signed with the Egyptian Government three amendments for the IEOC concessions of “Sinai 12 and Abu Madi”, “North Port Said” and “Baltim”, which is in partnership with […]

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BP to accelerate development of phase-1 of Atoll offshore field

Posted: November 6, 2015 at 3:42 pm   /   Oil & Gas

BP announced that it has signed a Heads of Agreement (HoA) with the Egyptian Minister of Petroleum, His Excellency Eng. Tarek El Molla, regarding the acceleration of the development of the recent Atoll gas discovery. The Atoll discovery (BP 100%) in the North Damietta Offshore Concession in the East Nile Delta, offshore Egypt was announced […]

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El Molla: Egypt's giant Zohr gas field aims to start output in 2017

Posted: November 6, 2015 at 3:09 pm   /   Oil & Gas

Egypt aims to start natural gas production from its massive offshore Zohr field in 2017, a year ahead of schedule, oil minister Tarek El Molla said. The Zohr gas field, discovered by Italy’s Eni, is the biggest in the Mediterranean, and with an estimated 30 trillion cubic feet of gas it is expected to plug […]

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BP to begin gas production from North Alexandria Concession in early 2017

Posted: October 26, 2015 at 7:05 pm   /   Oil & Gas

British oil major BP will begin gas production at its North Alexandria Concession in early 2017 rather than mid-2017, Egypt’s petroleum minister Tarek El Molla said at a news conference on Saturday. The offshore concession’s output will be roughly “450 million cubic feet per day in 2017 and reach 1.2 billion cubic feet per day […]

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BP to invest $229 million with Eni and Total in three offshore blocks

Posted: October 22, 2015 at 3:50 pm   /   Oil & Gas

BP Plc said it had been awarded three new offshore exploration blocks in Egypt and that it and its partners had committed to investment of $229 million. BP said it would have 100 percent equity and operate the North El Tabya block, located in deep waters north of its recent Salamat and Atoll discoveries. The […]

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