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Tag: Exploration & Production
Offshore-oil-rig

Egypt’s offshore oil & gas segment poised for growth – O&G Middle East

Posted: February 15, 2020 at 2:16 pm   /   Oil & Gas

After Egypt’s Red Sea exploration bidding round, the country’s offshore segment is ready to boom. At the close of Egypt’s Red Sea bidding round, it is clear that international oil companies see opportunity in the country, and its growth is just beginning to swell. Egypt awarded Shell, Mubadala, and Chevron exploration rights in the Red […]

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Dana Gas

Dana Gas to make decision on its Egypt assets sale by end of March

Posted: February 15, 2020 at 2:06 pm   /   Oil & Gas

Dana Gas received “numerous” bids for its Egypt assets in 2H2019 and is currently finalizing the technical and commercial evaluation ahead of making a final decision by the end of March, the company said in its annual earnings release. Investors have bid for the company’s onshore and offshore assets, CEO Patrick Allman-Ward said on an […]

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Schlumberger

Schlumberger introduces Egypt’s Digital Upstream Gateway

Posted: February 12, 2020 at 11:46 am   /   Oil & Gas

The Egyptian Ministry of Petroleum and Schlumberger have introduced the Egypt Upstream Gateway, a project for digitizing subsurface information and delivering a digital subsurface platform to ensure Egypt’s subsurface data is kept evergreen. The Egypt Upstream Gateway will also be a platform to promote Egypt’s exploration and production potential worldwide. The Egypt Upstream Gateway will […]

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transglobe map

TransGlobe Energy announces its 2020 capital budget, 2019 year-end reserves

Posted: February 5, 2020 at 1:57 pm   /   Oil & Gas

TransGlobe Energy has announced its 2020 capital budget, 2020 production guidance, and 2019 year-end reserves. All dollar values are expressed in US dollars unless otherwise stated. 2020 BUDGET HIGHLIGHTS TransGlobe has set its 2020 capital budget at $37.1 MM (before capitalized G&A); Egypt $23.7 MM Canada $13.4 MM 2020 average production guidance is set at 14.5 […]

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Shell

Shell starts receiving offers from IOCs to acquire its Egypt assets

Posted: February 4, 2020 at 4:04 pm   /   Oil & Gas

Dutch Shell has started to receive offers from international companies to buy its current assets from oil and natural gas concessions in the Western Desert in Egypt, and plans to finish the sale by the end of this year. A source in the petroleum sector told Daily News Egypt that the company evaluated its concession […]

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chevron

Chevron to be awarded two blocks in Egypt’s Western Mediterranean – MEES

Posted: January 21, 2020 at 4:09 pm   /   Oil & Gas

Chevron To Bag Egypt West Med Blocks As Bidding Canned: MEES learns that Egypt’s oil ministry has cancelled plans to launch a bid round for eight ‘West Med’ blocks. Twelve months on from first announcing the imminent launch of a bid round for eight Western Mediterranean offshore blocks, MEES learns that Cairo has decided it […]

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EGPC Signing

Egypt signs 9 Oil & Gas E&P agreements in Mediterranean, Western Desert

Posted: January 21, 2020 at 2:14 pm   /   Oil & Gas

EGPC signs USD 450 million in Oil and Gas E&P agreements: The state-owned Egyptian General Petroleum Corporation (EGPC) yesterday signed nine oil and gas exploration and production agreements that will see companies invest at least USD 452 million to drill 38 wells in concessions in the Mediterranean and Western Desert, the cabinet said in a […]

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Dragon Oil GUPCO

Dragon Oil completes acquisition of BP’s Gulf of Suez assets (GUPCO)

Posted: January 14, 2020 at 3:29 pm   /   Oil & Gas

Emirates National Oil Company (ENOC) subsidiary Dragon Oil has wrapped up its acquisition of BP’s Gulf of Suez assets for USD 500 million, the Oil Ministry said in a statement. A conflicting report by Al Arabiya puts the transaction value at USD 850 million, although the source of the figure remains unclear. BP and Dragon […]

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Pharos

Pharos Energy announces trading and Egypt operations update

Posted: January 8, 2020 at 1:26 pm   /   Oil & Gas

Pharos Energy has issued a trading and operations update to summarise recent operational activities and to provide trading guidance in respect of the financial year to 31 December 2019. This is in advance of the Company’s Preliminary results due to be announced on 11 March 2020. The information contained herein has not been audited and […]

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Red Sea Bid Round Result

Egypt announces Red Sea Offshore Bid Round result, awards 3 blocks

Posted: December 29, 2019 at 7:55 pm   /   Oil & Gas

Egypt’s Minister of Petroleum and Mineral Resources Tarek al-Molla announced on Sunday the results of the first international bid round for oil and gas exploration in the Red Sea, put up for bidding by the South Valley Egyptian Holding Company for Petroleum (Ganope) last March. The American Chevron Corporation won block one, while the Dutch […]

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