Red Sea seismic survey results expected in 1H 2018
The results of a seismic survey in the Red Sea are expected in the first half of 2018, industry sources told Youm7. The ministry anticipates that exploration operations in the Red Sea will attract investments of USD 750 million. (Source: Enterprise.press)
TransGlobe announce update on Boraq-5, disappointed with test results
TransGlobe Energy Corporation announces an update on the Boraq 5 test results. Arab Republic of Egypt South Alamein Concession (100% working interest, operated) In the Western Desert, the Company has completed testing two zones in the Boraq 5 appraisal well. The Boraq 5 well failed to produce any hydrocarbons from the two zones. The lower […]
ExxonMobil delegation in Egypt to discuss possible oil and gas projects
A delegation from ExxonMobil reportedly arrived in Egypt to discuss possible oil and gas projects within the next 5-7 years, an Oil Ministry source says, Youm7 reports. The delegation met with officials from the EGPC, EGAS, and the Ganoub El Wadi Petroleum Holding Company (Ganope). The company is reportedly particularly interested in exploration projects in […]
El Molla: $27.3 billion to be invested in gas fields next year
$15.5 billion worth of exploration agreements to be signed next year. Some 230 new wells will be drilled at a cost of USD 2 bn in 2018, while approximately USD 27.3 bn will be invested in the Zohr, North Alexandria, and Nooros fields, Oil Minister Tarek El Molla said yesterday, Al Shorouk reports. El Molla […]
ADIPEC 2017 expected to see increased business for Offshore & Marine Services
• Modest Spending Increase Forecast for Maintenance and Production. • Significant Potential in Natural Gas, New Offshore Exploration and Production Opportunities in Eastern Mediterranean. The Offshore and Marine industry is expected to see increased business at this year’s Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC), with analysts predicting modest increases in spending for maintenance and production […]
Shearwater GeoServices delivers first East Med 3D survey package to Edison
Shearwater GeoServices has supplied a 3D fasttrack pre-stack depth migration (PreSDM) product for Edison International from a new 3D SHarp broadband dataset in the Eastern Mediterranean. Simon Telfer, VP Processing and Imaging at Shearwater, said: “Edison required a PreSDM volume within weeks of completing the 3D acquisition. Our Onboard Processing and Depth Imaging groups worked […]
Shell plans on drilling 63 wells in Egypt's Western Desert in 2018
Royal Dutch Shell planned to drill 63 wells in Egypt in 2018 at different geological structures in the Western Desert, Shell’s Upstream International Director Andrew Brown announced Thursday. “This targets increasing oil and gas production volume in the Western Desert,” Brown added. In a Thursday meeting with Prime Minister Sherif Ismail and Minister of Petroleum […]
Eni's sale of 30% stake in Egypt's offshore Shorouk concession to Rosneft confirms validity of "dual exploration" strategy
Eni completes sale of a 30% stake in the Shorouk concession, offshore Egypt, to Rosneft. Following the finalization, Eni now holds a 60% stake in the concession, Rosneft 30% and BP 10%. Eni has finalized the sale of a 30% stake in the Shorouk concession, where the super-giant Zohr gas field is located, to Rosneft. […]
EGAS to issue new oil & gas exploration tenders in 2018
EGAS plans to issue new oil and gas exploration tenders in 2018, an unnamed company official tells Al Shorouk. It was reported last month that EGAS was planning to issue global tenders for the West Mediterranean concession once Norwegian firm PGS releases the results of its seismic survey for the area before the end of […]
GPC to secure EGP 2.3 billion loan from six-bank consortium
Egypt’s General Petroleum Company (GPC) has signed a financing agreement with a banking alliance made up of 6 local lenders to obtain a loan of EGP 2.3 billion to finance oil and gas exploration and drilling operations. The vice chairman of the National Bank of Egypt (NBE) Yehia Abul Fotooh said that the banking alliance […]