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Tag: E&P

Cabinet approves assignment of Ras Fanar development area in Gulf of Suez to EGPC

Posted: September 7, 2017 at 2:32 pm   /   Oil & Gas

The Sherif Ismail cabinet granted preliminary approval to transferring supervision of oil and gas production in Ras Fanar to the Egyptian General Petroleum Corporation (EGPC), until legislation is issued to govern the region. The cabinet approved Wednesday assigning the development of the Gulf of Suez’s Ras Fanar region to the Egyptian General Petroleum Corporation (EGPC). […]

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DEA appoints Maria Moraeus Hanssen as its new CEO

Posted: September 5, 2017 at 2:44 pm   /   Oil & Gas

DEA Deutsche Erdoel AG, the international oil and gas company wholly owned by LetterOne, today announces the appointment of Maria Moraeus Hanssen as its new CEO and Chairman of the Management Board. The appointment is expected to take effect in January 2018, when Maria Moraeus Hanssen succeed Thomas Rappuhn, who is handing over after 30 […]

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Egypt to re-draft Oil & Gas contracts by end of 2018, adding new E&P incentives

Posted: August 24, 2017 at 1:12 pm   /   Oil & Gas

The Egyptian Ministry of Petroleum to re-draft contracting forms by end of 2018. The petroleum committee met foreign partners to discuss their suggestions for amendments. The Ministry of Petroleum has formed a joint committee to re-draft the petroleum agreements and to add incentive terms for foreign investors in the petroleum sector. The new committee consists […]

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GPC launches Bid Round for two blocks in the Eastern Desert

Posted: August 13, 2017 at 10:15 pm   /   Oil & Gas

The General Petroleum Company (GPC) invites specialized petroleum companies in the fields of oil & gas exploration and production to submit offers for undertaking oil and gas exploration and production services in two GPC Concession Areas in the Eastern Desert in the Arab Republic of Egypt, with the target of explore these blocks to achieve […]

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El Molla: IOCs Egypt investments rise to $8.1bn in 2016/2017

Posted: August 10, 2017 at 12:15 pm   /   Oil & Gas

Investment by foreign oil firms in Egypt rose to $8.1 billion in 2016-2017 from $6.6 billion a year earlier, Petroleum Minister Tarek El-Molla told Reuters. “The foreign partners spent $8.1 billion in exploration and development operations in Egypt during 2016-2017, compared to $6.6 billion in 2015-2016,” El-Molla said in a phone call. The oil ministry […]

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Ganope to award two IOCs E&P blocks in Western Desert, will announce Bid Round results by end of month

Posted: July 11, 2017 at 3:15 pm   /   Oil & Gas

Ganoub El Wadi Petroleum Holding Company (Ganope) will award two international companies oil and gas E&P projects in the Western Desert, an unnamed Ganope source tells Al Borsa. Ganope will announce the winners of the tender for 10 blocks in the Western Desert and Gulf of Suez in two weeks’ time, according to the source. […]

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Upstream: Egypt has turned a corner

Posted: July 8, 2017 at 5:28 pm   /   Oil & Gas

Egypt’s decision to hike fuel prices is a bold measure that will help to settle outstanding debts to international oil companies that have faced payment delays since the revolution in 2011, writes Nassir Shirkhani. The cut to energy subsidies will save the government $2 billion a year and discourage wasteful consumption in a country where […]

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SDX

SDX Energy announces Egypt operational update

Posted: July 5, 2017 at 4:52 pm   /   Oil & Gas

SDX Energy Inc. (TSXV, AIM: SDX), the North Africa focused oil and gas company, is pleased to provide an operational update for Egypt. South Disouq (55% Operated working interest) Following the successful drilling of the SD-1X exploration well and resulting natural gas discovery at South Disouq, a Resources Update was prepared on behalf of SDX […]

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Red Sea

El Molla: Five IOC's are carrying out $750 million Seismic Survey of Red Sea

Posted: June 22, 2017 at 5:27 pm   /   Oil & Gas

Egypt’s Minister of Petroleum and Mineral Resources, Tarek El Molla, stated that Ganoub El Wadi Petroleum Holding Company (GANOPE) had agreed with five International Oil Companies (IOC’s)  six months ago to conduct a $750m seismic survey in the Red Sea to prepare reports on the  reserves of oil and gas in the territorial waters after […]

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MOP-Shell

El Molla meets Shell Executives, discuss North Um Baraka concession

Posted: June 22, 2017 at 5:22 pm   /   Oil & Gas

Egypt’s Minister of Petroleum and Mineral Resources, Tarek El Molla, met with Shell’s Deputy CEO, Samy Iskander, and  Shell Egypt’s Vice President & Country Chairman, Gasser Hanter, in the presence of  First Undersecretary of the Ministry for Gas and Geological Affairs, Mohamed Mounas, and First Undersecretary of the Ministry for Agreements and Exploration, Ashraf Farag. […]

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