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Tag: Drilling

TransGlobe Energy announces Q4 2017 Egypt operations update

Posted: December 21, 2017 at 2:10 pm   /   Oil & Gas

TransGlobe Energy Corporation (“TransGlobe” or the “Company”) (TSX:TGL) (NASDAQ:TGA) announces an operational update. All dollar values are expressed in US dollars unless otherwise stated. Highlights: Annual 2017 average production is trending to ~15.4 MBoepd, a 27% increase over 2016. Lifted and sold ~510 thousand barrels of entitlement crude oil in Egypt in late November for […]

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Shell in talks with Ministry to increase its share of Phase 9B gas production

Posted: December 19, 2017 at 9:38 am   /   Oil & Gas

Shell has apparently entered talks with the Oil Ministry to increase its share of gas produced to offset their investment costs from Phase 9B of the West Delta Deep Marine Concession, government sources tell Al Borsa. The company is looking to recoup the investment costs of developing the concession sooner, they added. The company plans […]

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Kuwaiti ABK bank to participate in EGP 3.2 billion loan to Egypt’s GPC

Posted: November 27, 2017 at 1:41 pm   /   Oil & Gas

Kuwait-based Al Ahli Bank of Kuwait (ABK) agreed to participate in a loan to Egypt’s General Petroleum Company (GPC) specializing in oil exploration and drilling operations, with 200 million Egyptian Pounds The total value of the loan of the loan intended to General Petroleum Company (GPC) to finance oil exploration and drilling operations is 3.2 […]

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SDX assessing commercial potential of South Ramadan concession in Egypt

Posted: November 23, 2017 at 4:36 pm   /   Oil & Gas

SDX Energy expects to soon conclude a commercial evaluation of the South Ramadan development concession in the Gulf of Suez offshore Egypt. It follows approval this summer of an extension to the drilling commitment by the General Petroleum Co. until October 2018. SDX has assessed the prospectivity of the area and completed development plans. Once […]

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SDX completes work-over programs in Egypt, attributes profit rise to Circle Oil acquisition

Posted: November 22, 2017 at 4:24 pm   /   Oil & Gas

SDX Energy announced completing a number of projects in Egypt during 3Q2017. The company concluded a twelve-well work-over program at North West Gemsa, which should allow it to achieve its 5,000 boepd target for the year, in addition to finalizing the expansion of a processing facility at its Meseda project by increasing treatment capacity to […]

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ADES secures two-year jackup rig drilling contract from GPC in Egypt

Posted: November 17, 2017 at 6:33 pm   /   Oil & Gas

Egypt’s General Petroleum Co. (GPC) has contracted ADES International Holding’s jackup ADMARINE III for a two-year program. The contract carries an option for a further two-year extension. ADES does not foresee the need for significant additional investments in the rig prior to the deployment. CEO Dr. Mohamed Farouk said: “ADMARINE III’s original contract with GPC […]

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Egypt signs $2.4 million exploration agreement with Trident Petroleum

Posted: November 11, 2017 at 4:40 pm   /   Oil & Gas

Egypt signed Saturday a new oil and gas agreement with Trident Petroleum to explore for oil and natural gas in the Gulf of Suez worth at least $2.4 million. The agreement was signed by Egypt’s Petroleum Minister Tarek el-Molla, Egyptian General Petroleum Corporation’s (EGPC) Chairman Abed Ezz el-Regal and Trident’s President Ehab Awad. The agreed […]

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BP’s Atoll field is 93% complete, production on track by year’s end

Posted: November 9, 2017 at 4:41 pm   /   Oil & Gas

BP will launch production at the USD 3.8 bilion Atoll field in the North Damietta concession ahead of schedule by the end of the year, said Hassan Abady, Chairman BP JV Pharaonic Oil Company, Al Ahram reports. Development of the field is 93% complete, including the drilling of three deepwater wells 950 meters below the […]

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TransGlobe announce update on Boraq-5, disappointed with test results

Posted: November 5, 2017 at 1:03 pm   /   Oil & Gas

TransGlobe Energy Corporation announces an update on the Boraq 5 test results. Arab Republic of Egypt South Alamein Concession (100% working interest, operated) In the Western Desert, the Company has completed testing two zones in the Boraq 5 appraisal well. The Boraq 5 well failed to produce any hydrocarbons from the two zones. The lower […]

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Drilling at Shell’s Phase 9B a “matter of time” – EGAS

Posted: November 2, 2017 at 8:06 pm   /   Oil & Gas

Starting drilling in Shell’s Phase 9B wells is a matter of time, a source at EGAS told Al Mal. The source says preparations for drilling are underway, but that they have not begun yet. The project, which involves the drilling of eight new wells to add capacity of 387 mmcf/d. BG Egypt, before being acquired […]

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