Oil companies bullish on Egypt, eyeing more investment, discoveries
Major international oil companies say they plan to step up their investments in Egypt, expecting to find more oil and gas now that Eni’s giant Zohr gas discovery has put its Mediterranean waters on the map. Once a net gas exporter, Egypt has turned into a major importer in recent years as growing domestic demand […]
A New Energy Era for Egypt (BP Magazine)
Egypt has faced challenges to its energy supply in recent years, but is looking ahead to new opportunities to revive domestic production. BP Magazine visits the country to find out more. Report by: Amanda Breen A new energy era BP has been helping Egypt to meet its energy needs for more than half a century […]
Post-Zohr reforms to boost appeal
With first production from Eni’s giant discovery likely to be less than a year away and other finds on the path to development, the country is taking the chance to revamp and streamline the bidding process. Egypt’s upstream sector was given a much-needed boost when Italian operator Eni discovered the giant Zohr field in the […]
Players’ healthy interest outside Egypt’s Nile Delta
Future upstream licensing in Egypt’s Nile Delta offshore province may be facing a hiatus, but the most recent round to have been completed by state-owned Egyptian General Petroleum Corporation signalled healthy interest by players in other acreages. Smaller, cash-strapped players were not much in evidence during the 2016 round, covering acreage in the Gulf of […]
CBE: Egypt pays Italy's Eni $630 million for Zohr gas field development
The Central Bank of Egypt (CBE) said on Tuesday it has paid the government’s financial obligation to Italian energy company Eni for the development of the giant Zohr gas field discovered off the Mediterranean coast in 2015. In statements to state news agency MENA, CBE Assistant Subgovernor Rami Aboul Naga said the bank paid $630 […]
Sandvik secures contracts for strategic projects in Egypt worth $107 million
Sandvik secures strategic projects in Egypt; establishes regional HQ in Dubai. Sandvik, a developer and producer of advanced stainless steels, special alloys, titanium, and other high-performance materials, has secured a number of strategic projects offshore Egypt to provide a comprehensive scope of Sandvik oil and gas solutions for the ongoing giant gas field developments in […]
Eni’s Egypt Growth Plan: Interview with Claudio Descalzi, Eni's CEO
Pipeline Magazine spoke exclusively to Eni’s CEO, Claudio Descalzi, about the importance of Egypt to the Italian firm’s oil and gas business and how it is coping with the new oil price environment. Since taking over at Eni two years ago what has been your main focus? Since the beginning, my main focus has always […]
El Molla dismisses talk of Egypt bid round in 2017
Some surprise at delay given popularity following giant Zohr discovery. Egypt Oil Minister Tarek El Molla said this week that state-owned Egyptian Natural Gas Holding Company (EGAS) will not launch a fresh licensing round in the Mediterranean Sea until next year at the earliest. “I’ve told them no, not until we deal with and finalise […]
BP expects gas production in Egypt to begin in 2 years
Investments in Egypt make up 20% of BP’s total investments worldwide. British Petroleum (BP) is expected to start gas production in Egypt sometime in 2017 and 2018, which will boost production and provide the domestic market with its needs, said the company’s CEO on Wednesday. In a meeting with Egyptian petroleum minister Tarek El-Molla, BP’s […]
Mediterranean Sea: from gas new opportunities for integration (ABO.net)
By Costanza Concetti. The new found hydrocarbon resources in the Mediterranean may represent the pretext for long-awaited regional integration. With Eni’s discovery offshore Egypt of the Zohr Field, whose 850 bcm of lean gas make it the largest gas trove in the Mediterranean to date, the Eastern Mediterranean has officially become a viable supply basin […]