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Tag: Exploration
south_ramadan

Pico hits oil pay in South Ramadan concession offshore Egypt

Posted: January 14, 2019 at 1:01 pm   /   Oil & Gas

Pico Oil has encountered oil pay at its well located in the South Ramadan concession offshore Egypt. The South Ramadan Concession is located offshore in the Gulf of Suez. SDX Energy is a 12.75% equity owner in the concession with Pico holding 37.5% and operatorship and GPC holding the remaining 50%. SDX Energy said on […]

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Edison

Edison says it has not given up exploration rights in Egypt

Posted: December 20, 2018 at 1:28 pm   /   Oil & Gas

Italy’s Edison says it has not given up oil and gas exploration rights in Egypt: Edison, the Italian oil company that is part of France’s EDF, has denied reports in the domestic press (as noted yesterday) that it has forfeited its right to explore for natural gas in the northeastern Hapi and Theqa concessions. “Edison […]

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Edison

Edison relinquishes its gas exploration rights in two Mediterranean concessions

Posted: December 19, 2018 at 1:57 pm   /   Oil & Gas

Italy’s Edison has forfeited its natural gas exploration rights in North East concessions Hapi and Theqa, local news reported. A new international tender for the concessions will be launched next year, an Oil Ministry source said, without specifying a time frame. Edison signed a USD 86 mn agreement with EGAS in January 2017 for E&P […]

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egypt-offshore-eni-blocks-sep18

BP buys 25% stake in Eni’s Nour concession offshore Egypt

Posted: December 10, 2018 at 2:01 pm   /   Oil & Gas

BP buys 25% stake in Eni’s Nour concession: BP has acquired a 25% stake in the Nour concession from Eni, according to a statement from Eni. Industry watchers hope the offshore North Sinai concession could be a Zohr-scale discovery. The “transaction is part of a wider business alignment with BP internationally and further strengthens the […]

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El Molla

US firms interested in Egypt’s offshore oil & gas exploration tenders

Posted: November 25, 2018 at 7:11 pm   /   Oil & Gas

Egypt sees increasing interest from U.S. energy companies in developing its offshore oil and natural gas resources and expects them to participate in two bidding rounds due before year-end, Petroleum Minister Tarek El Molla said. Egypt has emerged as an attractive destination for foreign energy firms following a string of major discoveries in recent years […]

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TransGlobe Western Desert

TransGlobe’s South Ghazalat 6X exploration well flows oil

Posted: November 21, 2018 at 1:19 pm   /   Oil & Gas

Third time lucky for Canadian player as it flows oil and gas from new discovery. Highlights Tested a combined 3,840 Bopd of light (35-38 API) oil from individual tests in the Upper and Lower Bahariya formations in the South Ghazalat 6X exploration well Flowed 2,437 Bopd of light oil, 21 Bpd of water and 1.4 […]

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BP CEO

BP to spend $2.8bn in Abu Dhabi, Egypt to boost Middle East presence

Posted: November 12, 2018 at 1:29 pm   /   Oil & Gas

Oil major BP aims to spend $1.8 billion in Egypt next year and $1bn annually in Abu Dhabi as it looks to expand its operations in the Middle East on the back of new discoveries and licensing rounds, according to its chief executive. BP, one of the world’s largest oil companies and the earliest explorer […]

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TransGlobe

TransGlobe Energy sets 2019 Capital Budget for Egypt at $24.1 million

Posted: November 11, 2018 at 2:27 pm   /   Oil & Gas

TransGlobe Energy Corporation announces the 2019 plan and capital budget. HIGHLIGHTS 2019 capital budget of $34.1 million (before capitalized G&A) Egypt $24.1 million Canada $10.0 million (C$13.0 million) 2019 production of 14.0 to 15.0 MBoepd with a mid-point of 14.5 MBoepd Egypt 11.6 to 12.4 MBopd in 2018 Canada 2.4 to 2.6 MBoepd in 2018 […]

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Polarcus

Marine seismic players optimistic as exploration budgets ‘likely to increase’

Posted: November 3, 2018 at 1:37 pm   /   Oil & Gas

Oslo-listed marine seismic data providers TGS and Polarcus are hoping 2019 will be a year of a more significant recovery for seismic players, as they expect the oil and gas companies to boost their exploration budgets on the back of higher oil prices. The two companies on Thursday posted the results for the third quarter […]

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tgs-schlumberger Red Sea

Egypt to offer Red Sea exploration bid round by end of 2018

Posted: October 25, 2018 at 11:31 am   /   Oil & Gas

Egypt’s Minister of Petroleum Tarek El-Molla has announced that Egypt will offer the first bid on oil and gas exploration in the Red Sea before the end of 2018 after processing seismic reflection data. During a meeting of the Egyptian-Canadian Business Council, El-Molla affirmed that all the gas and petroleum needs of the electricity sector, […]

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