Prime Minister & Minister of Petroleum meet with Apache CEO
Prime Minister Eng. Sherif Ismail received yesterday John Christmann, the Chief Executive Officer of Apache, and James House, Senior Region Vice President for Apache, and David Chi, Regional Vice President and Apache Egypt General Manager, in the presence of Eng. Tarek El Molla, Minister of Petroleum and Mineral Resources. At the meeting, the Prime Minister […]
Eni focused on African opportunities
One company pushing ahead with operations around Africa is Eni, which continues to make discoveries and sell down finds, writes Nicholas Newman. African exploration prospects have taken a hit over the last two years but, as Eni’s successes demonstrate, there is plenty of potential still worth securing. The Italian company has almost 4,900 oil and […]
Eni Exploration Chief: There could be another "Zohr-like" discovery in region
The discovery of a huge natural gas deposit in Egyptian waters has boosted hopes of other such finds in the eastern Mediterranean that could help meet Europe’s energy needs, a senior official with Italian oil and gas company Eni said Tuesday. Eni SpA Chief Exploration Officer Luca Bertelli said his company’s “milestone” discovery of Zohr, […]
Dana Gas provides market update on its Egyptian drilling program
Dana Gas, the Middle East’s leading regional private sector natural gas company, provides a market update on its BP-operated Mocha-1 well, drilled in the El Matariya (Block 3) onshore concession in Egypt. The Mocha-1 exploration well on Block 3 has been completed. The well reached the top of the targeted Oligocene at a depth of […]
French Ambassador calls on France's Oil & Gas companies to take advantage of Egypt’s investment opportunities
It’s a historic time for Egypt, as new natural gas explorations will bring self sufficiency to the country, said Marc Benayoun, CEO of Edison. In his speech on Tuesday at the Egypt Petroleum Show (EGYPS) currently being held in Cairo, Andre Baran, France’s ambassador to Egypt, called for French companies operating in the oil and […]
FT: Oil and gas discoveries dry up to lowest total for 60 years
Oil and gas discoveries are at a 60-year low, with the Zohr gas field discovered off Egypt’s shore in 2015 being the most recent giant discovery, the Financial Times reports. As large fields have become more difficult to find, many companies are putting exploration on ice, pushing the number of oil and gas discoveries in […]
Foreign investment in oil sector at $6.6 billion in FY 2015-2016
Foreign investments in the oil and gas sector reached USD 6.6 bn in FY2015-16, down from USD 7.5 bn in FY 2014-15, Oil Minister Tarek El Molla told Reuters’ Arabic service. El Molla says the investments in exploration, production, and development during the year came despite the internal energy price slump, which drove IOCs to […]
Wood Mackenzie: Deepwater Exploration Cutbacks May Come Back To Haunt Oil Drillers
We expect 2016 exploration spend to be around half the 2014 peak, and it could fall even further next year. Quarterly losses, dividends cut, budgets slashed – oil companies are in survival mode. Protecting cash flow is a top priority, so why continue to spend on exploration? The primary long-term organic growth engine of the […]
