Egypt launches new bid round for Brownfields in Gulf of Suez, Eastern Desert
Announcement of 2023 International Bid Round for Brownfields (Gulf of Suez & Eastern Desert) The Egyptian General Petroleum Corporation (EGPC) invites Oil and Gas companies to participate in the 2023 International Bid Round for Brownfields which includes (8) Eight brownfields, (7) Seven of them under the supervision of SUCO (Two Fields) and OSOCO (Five Fields) […]
Chevron signs MOU with Egypt on Methane Management
Chevron New Ventures PTE. LTD. (“Chevron”) and the Egyptian Ministry of Petroleum and Mineral Resources (MOPMR) have signed a memorandum of understanding (MoU) to share best practices and expertise related to the reduction of methane emissions. The MoU, witnessed by Clay Neff, president of Chevron International Exploration and Production and H.E. the Egyptian Minister of […]
Egypt’s natural gas, LNG export revenues double in first four months of 2022
Egypt’s natural gas and LNG export revenues grew 98% y-o-y in 4M2022 to record USD 3.89 bn, Reuters reports, citing Oil Ministry data it has seen. Meanwhile, our 2021 revenues from natural gas exports jumped 768% y-o-y to USD 3.96 bn, according to the data. The rise comes as the government is pushing to ramp up its exports […]
Aramco inks supply, offtake deal with Egypt’s Red Sea PetChem Complex
Aramco inks supply, offtake deal with proposed Egyptian integrated complex: Saudi Aramco’s Aramco Trading Co. has executed a long-term, nonbinding agreement to supply 100,000 b/d of Arabian crude oil to Red Sea National Petrochemicals Co.’s grassroots integrated refining and petrochemicals complex to be built on the Gulf of Suez. Saudi Aramco’s Aramco Trading Co. (ATC) has executed […]
Egypt announces Results of 2021 International Digital O&G Bid Round: Seven companies awarded eight concessions
Seven international companies were awarded exploration and production licenses for eight oil and gas concessions in the Mediterranean, the Western desert, and the Gulf of Suez, with a minimum investment value of c.USD 250 mn, the Oil Ministry said today. The licenses were awarded to Eni, BP, Apex International, Energean, United Energy, INA Naftaplin, and […]
Egypt’s Parliament approves Apache’s Modernized Production Sharing Contract
APA Corp. says Egypt’s parliament approved the company’s agreement to modernize and consolidate its current production sharing contracts with the government. APA says the changes will “simplify the contractual relationship with [the government] and include provisions to create a single cost recovery pool, facilitate increased recovery of prior investment, adjust cost recovery and production sharing percentages, and refresh the […]
Egypt considers liberalizing natural gas prices for factories
Factories could see the prices they pay for natural gas change every 3-4 months if the government follows through on proposals to liberalize the market announced by Oil Minister Tarek El Molla yesterday. Policymakers are considering extending the automatic pricing mechanism currently in place for petroleum products to gas supplied to the industrial sector, the minister told […]
TGS, Schlumberger announce new Red Sea 3D seismic survey offshore Egypt
TGS, in partnership with Schlumberger, has disclosed a new 3D seismic survey in the Red Sea, Egypt. The survey, covering approximately 6,800 square kilometres, will be acquired with long offsets and processed using a Pre-Stack Depth Migration (PSDM) workflow to enable subsalt imaging ahead of the anticipated license round. According to TGS, the final products […]
Apache moves toward revamp of its contracts in Egypt’s Western Desert
APA Corp. reached an agreement in principle with Egypt’s Ministry of Petroleum and Mineral Resources and the Egyptian General Petroleum Corp. in support of the MOP’s efforts to modernize the country’s petroleum sector. The new Production Sharing Contract (PSC) will consolidate most of the concessions in the Western Desert of Egypt operated by APA Corp. […]
MOP, EOG-CSR deliver second batch of Anti Covid-19 Medical Aid Supplies
The Ministry of Petroleum and Mineral Resources, and Egypt Oil & Gas (EOG) Technical Committee through its Corporate Social Responsibility (CSR) subcommittee have sent the second batch of medical equipment today, Thursday 17, to support the medical community amid the coronavirus (COVID-19) outbreak. Several national oil companies (NOCs) and international oil companies (IOCs) have cooperated […]
