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Tag: IEOC

Petrobel to invest $630 million in FY 2017-18

Posted: January 17, 2017 at 7:59 pm   /   Oil & Gas

Minster of Petroleum Eng. Tarek El Molla, chaired the General Assembly for Belayim Petroleum Company (Petrobel) to review the companies’ budgets for fiscal year 2017/2018. The general assemblies were held in the attendance of First Undersecretaries of the Ministry of Petroleum, CEOs of the Egyptian Natural Gas Holding Company (EGAS), and Executive President of the […]

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Eni’s CEO meets Egyptian President, confirms Zohr production expected before end of 2017

Posted: January 5, 2017 at 7:57 pm   /   Oil & Gas

The President of the Republic of Egypt, Abdel Fattah el-Sisi, and Eni’s Chief Executive Officer, Claudio Descalzi reviewed the extensive activity performed by Eni in Egypt with particular attention to the ongoing development activities of the Zohr field and with specific mention to the Nooros development which will produce about 25 MSCM/d (172,000 boepd) by […]

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Egypt signs oil and gas deals worth $220 million with Eni, BP & Total

Posted: December 29, 2016 at 1:23 pm   /   Oil & Gas

Egyptian Oil Minister Tarek El Molla has signed three offshore oil and gas exploration and production deals worth a total of at least $220 million with France’s Total, Britain’s BP, and Italian oil major ENI’s Egyptian subsidiary IEOC, the ministry said on Wednesday. The deals include drilling for six wells and a signing bonus of […]

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Eni signs concession agreements for two new exploration blocks in Egypt's Mediterranean shallow waters

Posted: December 28, 2016 at 1:03 pm   /   Oil & Gas

Eni signed two new concession agreements for the North El Hammad and North Ras El Esh, located in the shallow waters in Egyptian Mediterranean Sea, as a result of the EGAS 2015 international bid round. Eni is the operator of the North El Hammad block with an equity of 37.5% in participation with BP, who […]

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mop zohr

Minister of Petroleum follows up on development of Zohr field

Posted: December 18, 2016 at 7:24 pm   /   Oil & Gas

Minister of Petroleum and Mineral Resources, Eng. Tarek El Molla, met with the Higher Committee, comprised of the Egyptian General Petroleum Corporation (EGPC), the Egyptian Natural Gas Holding Company (EGAS), Petrobel, and Italy’s Eni, to follow up on the development of the Zohr field project. EGAS Chairman Eng. Mohamed Al-Masry, EGPC Chairman Eng. Tarek El […]

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rosneft

Eni sells 30% stake in Egypt's Zohr field to Rosneft

Posted: December 13, 2016 at 12:12 am   /   Oil & Gas

Italian energy company Eni will sell a 30 percent stake in its giant Egyptian offshore gas field Zohr to Russia’s Rosneft for $1.575 billion, pressing ahead with asset sales to fund investments and offset weak oil prices. Eni, which owns 90 percent of the Shorouk concession containing Zohr, said on Monday that Rosneft would pay […]

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BP

BP buys 10% stake in Eni’s super-giant Zohr gas field offshore Egypt

Posted: November 26, 2016 at 12:26 pm   /   Oil & Gas

BP has agreed to buy 10 percent of Eni’s Shorouk concession offshore Egypt, which includes the giant Zohr gas field, for $375 million, joining other oil majors in increasing bets on the growing gas market. The deal gives Eni much-needed cash as part of its 5 billion euro divestment plan to continue investing and paying […]

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President Sisi approves amendments to Ras El Barr concession agreement between EGPC, Eni and BP

Posted: November 26, 2016 at 12:02 pm   /   Oil & Gas

President Abdel Fatah Al-Sisi issued on Monday an agreement between the Egyptian General Petroleum Corporation (EGPC) and with the Italian Egyptian Oil Company (IEOC), a subsidiary of Eni, and UK’s BP. The deal is regarding explorations in Ras El Barr concession area in Nile Delta. (Source: Ministry of Petroleum)

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Pannelli solari su pozzo in produzione

Eni to implement renewable energy projects in Egypt

Posted: September 30, 2016 at 2:48 pm   /   Renewables

The implementation of renewable energy projects in the country will allow for a reduction in the use of natural gas in electricity generation. Eni and the Egyptian Authorities have agreed on a common strategy to implement a series of renewable energy projects in order to promote the development of a more sustainable energy mix in […]

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BP

BP signs three concession amendments in Egypt

Posted: September 27, 2016 at 8:26 pm   /   Oil & Gas

Partners also celebrate reaching record production for the Nooros field and successful appraisal results from Baltim discovery. BP today announced it has signed with His Excellency the Egyptian Minister of Petroleum, Eng. Tarek El Molla, concession amendments for the Temsah, Ras El Barr and Nile Delta Offshore concessions in Egypt.  These amendments allowed for the […]

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