Onshore Egypt still attractive even as Shell sells assets – Upstream Opinion
OPINION: Shell’s decision to exit onshore assets in Egypt highlights a trend by major producers to abandon ageing fields that need intensive efforts to keep them producing without the expected reward. By contrast, heavyweight international oil companies are turning their focus offshore in the Mediterranean Sea, which offers significant exploration upside. The departure of major […]
Dragon Oil completes acquisition of BP’s share in Egypt’s GUPCO JV
Dragon Oil’s Acquisition of BP’s stake in Gulf of Suez, Egypt – Major investments and new concepts. As a part of its ongoing drive to be among regionally and globally ranked Oil and Gas companies, Dragon Oil Ltd. – the fully owned exploration and production platform of Emirates National Oil Company «ENOC» has acquired BP’s […]
EGAS upcoming Bid Round will include 11 Blocks in Egypt’s West Mediterranean
The EGAS upcoming Bid Round will include 11 Blocks in Egypt’s Western Mediterranean. Dr. Samir Rasslan, EGAS vice Chairman for Agreements & Explorations announced on the last day of MOC, that the Egyptian Natural Gas Holding Company (EGAS) will invite Petroleum Exploration Companies for 2020 International Bid Round to explore/exploit for Gas and Crude Oil […]
Shell Egypt to sell its onshore Western Desert upstream assets
SHELL EGYPT TO MARKET ITS CURRENT ONSHORE UPSTREAM ASSETS IN THE WESTERN DESERT TO FOCUS ON OFFSHORE GAS GROWTH Shell Egypt is to market its current onshore upstream assets in the Western Desert in order to fully concentrate on growing its Egyptian offshore exploration and integrated gas business. Wael Sawan, Shell Upstream Director, said: “Shell […]
Apache Corp. plans to increase its investments in Egypt – CEO Christmann
Apache Corp. plans to increase investments in Egypt: CEO – The U.S oil corporation plans to boost its investments in Egypt. Apache oil corporation has plans to boost investments in Egypt through using the cutting-edge oil and gas exploration technologies, said John J. Christmann, the President, Chief Executive Officer and Director at Apache Corporation. Christmann […]
Italy’s Eni says it does not want “gas well war” offshore Cyprus
The head of Italy’s Eni said Thursday the oil and gas group would not drill off Cyprus should a row with Turkey over sizeable natural gas deposits see either side send in warships. “I am not worried… (but) if someone turns up with warships, I won’t drill wells,” Claudio Descalzi said. “I certainly don’t want […]
Heads of global oil giants applaud Egypt’s blooming oil & gas sector
Heads of global oil companies stressed on Tuesday that the Egyptian oil sector has become a friendly-investment environment thanks to the government’s legislative reforms and recent oil discoveries in Egypt. Their remarks came during the Mediterranean Offshore Conference (MOC), held in Egypt’s Alexandria, Egyptian state-run MENA news agency reported. Executive VP Upstream JVs at the […]
Shell aims to start operating Egypt concessions in second half of 2020
Royal Dutch Shell is aiming to start operating in its concession areas in Egypt in the second half of 2020, a senior executive said. Shell won three oil and two gas concessions in Egypt in February. Eni, BP and Exxon Mobil also won some of a total of 12 tenders as Egypt looks to sustain […]
BP invests $35 billion in Egypt, Eni eyes drilling 20 exploration wells
BP aims to develop Qattameya natural gas field: Officials of several major oil and gas firms have revealed their plans for investing in the Egyptian market during the tenth Mediterranean Offshore Conference and Exhibition (MOC) on Tuesday. British Petroleum Total investments of British Petroleum (BP) in Egypt have exceeded $35 billion, with plans to expand […]
Neptune acquires Edison’s North Sea assets from Energean in $250m deal
UK operator inks conditional deal worth up to $280m for non-core E&P holdings with Energean. Energean to hive off Italian group’s Norwegian and UK projects once its purchase completed. Neptune Energy has entered into a conditional sale and purchase agreement with Energean to acquire Edison E&P’s UK and Norwegian producing, development and exploration assets for […]