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Tag: Exploration
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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TransGlobe Western Desert

TransGlobe starts drilling new well at South Ghazalat concession

Posted: October 25, 2018 at 11:26 am   /   Oil & Gas

TransGlobe Energy announced yesterday that it began drilling for oil at its SGZ 6X exploration well in the South Ghazalat concession in the Western Desert. The company also said that it successfully began production from two wells in West Bakr in the Eastern Desert, with output from each well currently averaging around 800 bpd, exceeding […]

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WesternGeco Seismic

First phase of Red Sea seismic mapping completed – El Molla

Posted: October 21, 2018 at 3:16 pm   /   Oil & Gas

Phase one of seismic mapping of Red Sea completed: The first phase of the seismic mapping of energy and mineral resources in the Red Sea — a precursor step to tendering exploration concessions there — has been completed, Oil Minister Tarek El Molla said on Thursday, according to Al Shorouk. Tendering concessions there to the […]

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NW Sitra

TransGlobe’s NW Sitra exploration well in Western Desert disappoints

Posted: September 26, 2018 at 1:50 pm   /   Oil & Gas

TransGlobe Energy has announced an update on its operations in Egypt. Updates Corporate production during the quarter averaged 14.8 MBoepd in July, 13.5 MBoepd in August and 14.4 MBoepd to date in September. Received proceeds of $59 million during the third quarter for cargos lifted in June and July. Drilled and preparing to abandon NW […]

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Enppi-Wood

Enppi, Wood Group sign partnership deal for deepwater gas drilling

Posted: September 25, 2018 at 3:04 pm   /   Oil & Gas

Egypt’s state oil company Engineering for Petroleum and Process Industries (ENPPI) signed a deal on Monday with the UK’s Wood Group for a technical and engineering partnership on natural gas exploration and production through deepwater drilling. In an official statement, Egypt’s petroleum ministry said the inking of the agreement was witnessed by Minister of Petroleum […]

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egypt-offshore-eni-blocks-sep18

Eni, Tharwa to drill first exploratory well at offshore Noor field

Posted: September 20, 2018 at 1:36 pm   /   Oil & Gas

Italy’s Eni and Egypt’s Tharwa company will drill the first exploratory oil well in Northern Sinai’s offshore Noor field next week, an official at Egypt’s gas company EGAS said on Thursday. Egypt’s cabinet approved in March an agreement to explore the North Sinai region of the Mediterranean Sea. Under the deal, Eni and Tharwa will […]

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MOP-Shell-WDDM

Egypt inks $1 billion WDDM exploration deal with Shell, Petronas

Posted: September 16, 2018 at 3:30 pm   /   Oil & Gas

The Egyptian General Petroleum Corporation EGPC signed a deep-water oil and gas exploration agreement with Royal Dutch Shell and Malaysia’s Petronas worth around USD 1 billion, according to an Oil Ministry statement on Saturday. The agreement would see the two companies drill eight wells in the West Delta Deep Marine WDDM area in the Mediterranean […]

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