BP buys 25% stake in Eni’s Nour concession offshore Egypt
BP buys 25% stake in Eni’s Nour concession: BP has acquired a 25% stake in the Nour concession from Eni, according to a statement from Eni. Industry watchers hope the offshore North Sinai concession could be a Zohr-scale discovery. The “transaction is part of a wider business alignment with BP internationally and further strengthens the […]
Eni to drill tenth well in Egypt’s Zohr natural gas field next January
Italy’s Eni will begin drilling its tenth well in the Zohr gas field in January 2019 at a cost of USD 300 million. The addition of the tenth well is expected to boost output production by 200 mmcf/d, and is predicted to take two months to complete. Production from the tenth well remains dependent on […]
US firms interested in Egypt’s offshore oil & gas exploration tenders
Egypt sees increasing interest from U.S. energy companies in developing its offshore oil and natural gas resources and expects them to participate in two bidding rounds due before year-end, Petroleum Minister Tarek El Molla said. Egypt has emerged as an attractive destination for foreign energy firms following a string of major discoveries in recent years […]
Eni completes drilling ninth well at Zohr gas field
Italy’s Eni has completed drilling work on Zohr’s ninth deepwater well at a cost of USD 300 million, according to an industry source. Early tests put initial production levels at 150 mcf/d. The well was closed after the company finished drilling due lack of capacity at the treatment plant, but will enter production by the […]
Eni sells 20% stake in Noor offshore concession to Mubadala Petroleum
Eni sells to Mubadala Petroleum a 20% stake in the Nour North Sinai Offshore concession in Egypt. Eni further strengthens its ties with Mubadala Petroleum, building on the successful partnership in the Shorouk concession. The Chief Executive Officer of Petroleum & Petrochemicals, Mubadala Investment Company, and Chairman of Mubadala Petroleum, Musabbeh Al Kaabi, and the […]
Marine seismic players optimistic as exploration budgets ‘likely to increase’
Oslo-listed marine seismic data providers TGS and Polarcus are hoping 2019 will be a year of a more significant recovery for seismic players, as they expect the oil and gas companies to boost their exploration budgets on the back of higher oil prices. The two companies on Thursday posted the results for the third quarter […]
Eni sets new Zohr production target of 3.2 bcf/d by end of 2019
In a conference call with analysts, Eni’s finance chief Massimo Mondazzi said that the company is ramping up production at its Zohr field offshore Egypt, where it is now targeting 3.2 billion cubic feet (bcf) of gas per day by the end of 2019 from a previous 2.7 bcf. The company has one of the strongest […]
Egypt to offer Red Sea exploration bid round by end of 2018
Egypt’s Minister of Petroleum Tarek El-Molla has announced that Egypt will offer the first bid on oil and gas exploration in the Red Sea before the end of 2018 after processing seismic reflection data. During a meeting of the Egyptian-Canadian Business Council, El-Molla affirmed that all the gas and petroleum needs of the electricity sector, […]
Eni starts drilling two new wells at Zohr natural gas field
Italy’s Eni started drilling two additional wells at the offshore Zohr natural gas field as it prepares to raise output to its 2.7 bcf/d plateau next year, an unnamed source from EGAS tells Al Shorouk. The addition brings the total number of wells in the project to 13. Sources said that work on them should […]
First phase of Red Sea seismic mapping completed – El Molla
Phase one of seismic mapping of Red Sea completed: The first phase of the seismic mapping of energy and mineral resources in the Red Sea — a precursor step to tendering exploration concessions there — has been completed, Oil Minister Tarek El Molla said on Thursday, according to Al Shorouk. Tendering concessions there to the […]
