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Tag: Exploration

French Ambassador calls on France's Oil & Gas companies to take advantage of Egypt’s investment opportunities

Posted: February 16, 2017 at 10:08 pm   /   Oil & Gas

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 […]

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FT: Oil and gas discoveries dry up to lowest total for 60 years

Posted: February 13, 2017 at 12:54 pm   /   Oil & Gas

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 […]

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Foreign investment in oil sector at $6.6 billion in FY 2015-2016

Posted: September 7, 2016 at 11:39 am   /   Oil & Gas

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 […]

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Wood Mackenzie: Deepwater Exploration Cutbacks May Come Back To Haunt Oil Drillers

Posted: February 13, 2016 at 2:51 pm   /   Oil & Gas

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 […]

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