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Tag: Exploration

Egypt signs 3 contracts with Apache, Merlon for Western Desert oil and gas exploration worth $79 million

Posted: August 26, 2017 at 8:19 pm   /   Oil & Gas

The Minister of Petroleum and Mineral Resources, Tarek al Molla, signed three new agreements for oil and gas exploration in the Western Desert of Egypt with the Egyptian General Petroleum Corporation and the American companies Apache and Merlon, with a minimum investment of about $79 million, a statement from the ministry said on Saturday. The […]

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sdx

SDX Energy provides Q2 2017 update on Egypt operations

Posted: August 26, 2017 at 12:49 pm   /   Oil & Gas

SDX Energy, the North Africa focused oil and gas company, has announced its operating results for the three and six months ended June 30, 2017. Operational Highlights The Company’s share of production from its operations for the six months ended June 30, 2017 was 3,351 boepd analysed as follows; North West Gemsa 2,170 boepd Meseda […]

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Egypt to re-draft Oil & Gas contracts by end of 2018, adding new E&P incentives

Posted: August 24, 2017 at 1:12 pm   /   Oil & Gas

The Egyptian Ministry of Petroleum to re-draft contracting forms by end of 2018. The petroleum committee met foreign partners to discuss their suggestions for amendments. The Ministry of Petroleum has formed a joint committee to re-draft the petroleum agreements and to add incentive terms for foreign investors in the petroleum sector. The new committee consists […]

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El Molla: Increased exploration and production rates due to political stability

Posted: August 19, 2017 at 8:29 pm   /   Oil & Gas

Minister of Petroleum Tarek El Molla said that Egypt’s success in attracting petroleum investments and increasing investment in research and exploration were driven by several factors, foremost of which is the political stability witnessed by Egypt and the continuous support of the state to the oil sector, which is full of distinct experts and various […]

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GPC

NBE, Banque Misr to finance GPC exploration and drilling with EGP 3 billion loan

Posted: August 16, 2017 at 8:57 pm   /   Oil & Gas

The National Bank of Egypt (NBE) and Banque Misr are arranging a EGP 3 billion facility for the General Petroleum Company (GPC) to finance exploration and drilling operations, as well as debt restructuring, Al Mal reports. NBE and Banque Misr are in talks with a number of banks including the Egyptian Arab Land Bank, Credit […]

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Apache

Apache predicting lower results for Q2 2017

Posted: August 3, 2017 at 3:37 pm   /   Oil & Gas

Egypt-heavy driller Apache is warning investors that its Q2 numbers are going to come in lower than forecast, Madison reports. The oil and gas exploration firm is predicting it will report lower numbers today and investors will be looking at their Alpine High exploration in Texas, which has been a point of focus lately. Moreover, […]

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AGR

Dana Gas to use AGR software for North El Arish deep water exploration in Egypt

Posted: July 21, 2017 at 1:54 pm   /   Oil & Gas

AGR Software team have signed a SaaS (Software as a Service) contract with Dana Gas PJSC to supply the latest version of our P1™ software. AGR’s P1™ software helps its users to improve the accuracy of well time and cost modeling and can be applied for all drilling and well related operations, including completions and […]

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Egypt to launch new oil exploration tender by end of 2017 – El-Molla

Posted: July 17, 2017 at 3:07 pm   /   Oil & Gas

Egypt is planning a new tender for crude discovery and exploration before the end of 2017, Petroleum Minister Tarek El-Molla said Saturday. Egypt will sign soon contracts with Apache Corporation, Apex International Energy, and Shell for five oil exploration blocks in the Western Desert, the minister added. Egypt, which used to be a net energy […]

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Magseis

Saudi Aramco: Technology key to unlocking Red Sea spoils (Upstream)

Posted: July 17, 2017 at 2:46 pm   /   Oil & Gas

Saudi Aramco looking to new seismic solutions in exploration drive in deep waters. State-owned Saudi Aramco is hoping that innovative seismic acquisition technology will help the company to successfully explore the geologically complex sub-salt of the ecologically sensitive Red Sea. These innovative technologies for shallow-water seismic surveying included Magseis’ autonomous miniaturised cable nodes, while contractor […]

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Red Sea

Egypt to open new exploration areas for oil & gas in the Red Sea

Posted: July 14, 2017 at 3:57 pm   /   Oil & Gas

Egyptian Petroleum Minister Tarek El Molla said on Thursday that new areas in the Red Sea will be open for bidding for exploration as part of Egypt’s effort to expand oil and gas production. El Molla did not disclose the exact date for the bidding. He told a news conference that the bidding comes after […]

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