Petrobel to invest $630 million in FY 2017-18
Minster of Petroleum Eng. Tarek El Molla, chaired the General Assembly for Belayim Petroleum Company (Petrobel) to review the companies’ budgets for fiscal year 2017/2018. The general assemblies were held in the attendance of First Undersecretaries of the Ministry of Petroleum, CEOs of the Egyptian Natural Gas Holding Company (EGAS), and Executive President of the […]
Oil Minister meets with Dana Gas executives to discuss expansions
Oil Minister Tarek El Molla met with Dana Gas Technical Director Iman Hill to discuss future expansions, Al Shorouk reported. Dana Gas is planning to increase production from the Balsam field by 40 mcf/d through its JV El Wastani Petroleum by drilling two additional production wells in 2H2017. (Source: Enterprise.press)
Qarun Petroleum plans $190 million in investments for FY 2017-18
Qarun Petroleum Company (QPC) plans to inject $190 million in investments in the fiscal year 2017 – 2018, said a press release. “The company seeks to drill 14 wells in FY2017 – 2018,” said Mohsen El-Noby, Chairman. The company’s average daily production recorded 37 barrels up 11% from the previously established target at the first […]
TransGlobe Energy announces Mid-Quarter Egypt Update for Q4 2016
TransGlobe Energy Corporation announced the mid-quarter Egypt update for the fourth quarter of 2016. All dollar values are expressed in Canadian dollars unless otherwise stated. Mid-Quarter Operational Highlights, Arab Republic of Egypt: Production Recovery Plan (“PRP”) is on target to achieve 13,000 to 14,000 Bopd by year end 2016. Q4 production expected to meet or […]
Rockhopper Exploration provides corporate update
AIM-listed Rockhopper Exploration, the oil and gas company with key interests in the North Falkland Basin and the Greater Mediterranean region, has provided the following corporate update. Highlights: Economic production* from Egypt and Italy for the year ended 31 December 2016 expected to average approximately 1,350 boepd net to Rockhopper. Group economic production: Following completion […]
Khalda Petroleum reduces cost of oil production from Apache's Western Desert concession to $4.5 per barrel
Khalda Petroleum Company has reduced the cost of oil produced from the Apache concession area in the western desert to $4.5 per barrel in the first quarter of the current fiscal year, down from $5. Mohamed Abdel Azim, head of the Khalda Petroleum Company, told Daily News Egypt that the company successfully reduced costs by […]
Apache allocates $909m for drilling 97 wells in 2016/2017 – Head of Khalda
Company in discussions with foreign partner to increase investment and review plan in January. US company Apache plans to drill just under 100 wells in the western desert at a cost of $908.9m this fiscal year. This project is divided into 74 development wells at a cost of $552.5m and 23 exploratory wells at a […]
Shell to boost deepwater investments, but is owed substantially by government
Shell will be increasing exploration and drilling at its deepwater concessions in Burullus and Rosetta concessions, according to statements by Aidan Murphy, Shell Egypt VP and country chairman. The company plans to expand its investments there following promising data on the size of the concessions. Murphy also stated that the company is owed a substantial […]
SDX Energy finalizes drilling location for South Disouq well in Egypt
SDX Energy Inc. and its partner have agreed on the target and location for drilling a carried exploration well in the South Disouq concession in Egypt. A team has already been engaged to provide technical assistance on the well, according to SDX, with drilling set to commence early in the first quarter of 2017. SDX, […]
SDX Energy provides update on Egypt operations
SDX Energy, the North Africa focused oil and gas company, is pleased to provide an operational update on its South Disouq and Meseda concessions in Egypt. South Disouq As previously announced on 10 October 2016, SDX’s initial assessment of the 3D seismic data at South Disouq was positive and identified potential for both oil and […]