Egyptian Ethylene & Derivatives Company (Ethydco) begins trial run
The Egyptian Ethylene & Derivatives Company (Ethydco) has begun a trial run ahead of its official launch, Oil Minister Tarek El Molla told Al Masry Al Youm. The USD 1.9 bn project is meant to curb imports of products that require petrochemicals for production inputs, he added. Ethydco has successfully tested the 460k-tonnes annual capacity […]
Eni to begin drilling Zohr-6 well next month
Al Borsa reported on Tuesday that Eni is set to begin drilling Zohr-6 well in August. This would be the final well to be drilled in 2016, concluding the first phase of the project, worth USD 5 bn, with the source adding that proven reserves have so far increased to 32 trillion cubic feet of […]
Egypt reduces arrears owed to foreign oil companies to $3.4 billion
Egypt has reduced the arrears it owes foreign oil companies to $3.4 billion in 2015/16 from $3.5 billion a year earlier, Petroleum Minister Tarek El Molla told Reuters on Monday. El Molla also said that Egypt received crude oil and natural gas from the foreign partners’ share during 2015/16 worth $5.4 billion. Egypt paid them […]
Apache extends Western Desert oil drilling for five years with $40m investment
American wildcat oil and gas exploration firm Apache Corporation has agreed a five-year extention to its Khalda-2 drilling concession in the Western Desert, with an expected investment of US$40 million. The agreement was signed by Petroleum Minister Tarek al-Molla, the Egyptian General Petroleum Corporation’s Chief Executive Tarek al-Hadidy and David Chi, the Vice-President of Apache. […]
Kuwait holds talks with Petroleum Ministry to refine oil in Egypt
A delegation from Kuwait Petroleum Corporation (KPC) had talks with the Egyptian petroleum minister over the possibility of refining the Kuwaiti oil in Egyptian refineries, according to a statement issued on Friday. The studies included the increase of shipping and storage facilities in SUMED’s location in Ain Sukhna and Sidi Kerir, as well as raising […]
Egypt's gas projects to increase daily production to 5.5-6 bcf by end of 2019
Egypt will increase its natural gas production to between 5.5 and 6 billion cubic feet per day by the end of 2019, Oil Minister Tarek El Molla said on Sunday, up from the current 3.9 bln cubic ft per day. Once an energy exporter, Egypt has turned into a net importer because of declining oil […]
Minister of Petroleum speaks before the Bilateral US-Arab Chamber of Commerce
On the sidelines of the Offshore Technology Conference (OTC), which was held the US city of Houston, Eng. Tarek El Molla, Minister of Petroleum and Mineral Resources, participated in the annual meeting of the Egyptian Ministry of Petroleum, which was organized by the Bilateral US-Arab Chamber of Commerce under the slogan of (Increasing the Current […]
OTC 2016: El-Molla holds intensive talks with International Companies
On 6th may 2016, Eng. Tarek El-Molla, Minister of Petroleum and Mineral Resources, held various meetings with a number of Heads of international companies operating in Egypt. He discussed the development program of North Alexandria fields and Atoll field, with BP’s Chief Executive for research and production, the development program of North Alexandria fields and […]
Minister of Petroleum to open the 8th Offshore Mediterranean Conference (MOC 2016) in Alexandria
On next Tuesday 19th April, 2016, Eng. Tarek El Molla Minister of Petroleum and Mineral Resources to open in Alexandria the 8th Mediterranean Offshore Conference & Exhibition MOC 2016, which will be held for 3 days. The conference is accompanied by an exhibition with the participation of many local, Arab and international companies, where multiple […]