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Tag: Gulf of Suez
North Zaafarana

Egypt signs E&P agreements worth $65 million in Sinai, Gulf of Suez

Posted: August 27, 2018 at 1:18 pm   /   Oil & Gas

Minister of Petroleum and Mineral Resources Tarek el-Molla signed two new agreements for oil and natural gas exploration and production in Sinai and the Suez Gulf with investments of $65 million. The minister also signed grants of $3.5 million, an official statement revealed. The first agreement is signed with General Petroleum Company (GPC) in Sinai’s […]

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BP to drill its first Gulf of Suez exploration well by October

Posted: August 4, 2018 at 3:37 pm   /   Oil & Gas

Britain’s BP will begin drilling its first exploration wells in the Northeast Ramadan concession area in the Gulf of Suez by early October at the latest, an Egyptian state oil company EGPC official said. The source told Youm7 that the project is awaiting completion of security approvals and the licenses necessary to start drilling. Drilling […]

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NE Ramadan

Egypt, BP sign $46m deal for Gulf of Suez oil exploration

Posted: July 30, 2018 at 8:43 pm   /   Oil & Gas

The Egyptian General Petroleum Corporation (EGPC) and the London-based BP Plc have signed a $46 million agreement for oil and gas exploration and production at the North East Ramadan area in the Gulf of Suez. The deal also included a $4 million signing bonus to drill three wells, according to a press release. The deal was […]

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SDX spuds South Ramadan SRM-3 appraisal well offshore Egypt

Posted: June 17, 2018 at 6:41 pm   /   Oil & Gas

South Ramadan commitment well under way offshore Egypt SDX Energy says drilling has started on the SRM-3 appraisal well in the Gulf of Suez offshore Egypt (SDX 12.75% non-operated interest). SRM-3, the last remaining commitment well on the South Ramadan concession, should take up to 90 days to drill and complete. Based on the results, SDX said […]

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EGPC launches 2018 oil & gas exploration bid round for 11 blocks

Posted: May 22, 2018 at 5:08 pm   /   Oil & Gas

The Egyptian General Petroleum Corporation (EGPC) launched the 2018 bid round for oil & gas exploration on 11 blocks: Five in the Western Desert, two in the onshore Nile Delta region, one in the Eastern Desert, and three in the Gulf of Suez (both onshore & offshore). The Egyptian Ministry of Petroleum announced in an […]

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SDX and partners commit to drilling at South Ramadan offshore Egypt

Posted: May 21, 2018 at 3:53 pm   /   Oil & Gas

An appraisal well will spud by mid-year on the South Ramadan license in the Gulf of Suez offshore Egypt, according to partner SDX Energy. This will be up-dip from one of the previous producing wells in the field. Total cost of the work program this year will be around $23.5 million, including some platform remediation […]

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Egypt to offer 27 concessions in 2 bid rounds for oil & gas exploration

Posted: May 21, 2018 at 2:14 pm   /   Oil & Gas

Egypt will launch two international bid rounds for oil and gas exploration in 2018, the petroleum ministry said in a statement on Monday. One bid round will cover 16 concession areas, mostly in the Mediterranean Sea, under state buyer EGAS, in its largest ever bid round. The other auction will cover 11 concession areas under […]

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Schlumberger to start Gulf of Suez seismic survey before end of 2018

Posted: May 20, 2018 at 2:47 pm   /   Oil & Gas

Oilfield services company Schlumberger is set to start seismic survey in the Gulf of Suez before the end of this year, a source tells Youm 7. Norway’s TGS also expects to deliver final data in December this year after completing a 10,000-km 2D seismic survey along Egypt’s Red Sea border with Saudi Arabia. Schlumberger and […]

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SDX Energy seeks rig for development drilling at South Ramadan

Posted: April 3, 2018 at 3:18 pm   /   Oil & Gas

SDX Energy has issued an update on operations at the South Ramadan concession in the Gulf of Suez offshore Egypt. The partners have completed the final sub-surface technical work in connection with an evaluation of development options. They have opted to drill a development well up-dip of one of the previous producing wells on the […]

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BP to sell mature oil field assets in Egypt, shifts focus to gas

Posted: March 18, 2018 at 1:06 pm   /   Oil & Gas

U.K. company has begun process to sell mature fields in Egypt. A sale could be sensitive because the assets employ thousands. BP Plc has begun a process to sell mature oil fields in Egypt as it shifts investment in the country to natural gas, according to people with knowledge of the matter. The so-called Gulf […]

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