EGAS, EGPC 2018 Bid Rounds results announced with 12 blocks awarded
Shell wins big in Egypt: Supermajor lands five blocks in latest bid round, while ExxonMobil makes debut. Royal Dutch Shell, Eni, BP and Exxon Mobil were among the winners in one of Egypt’s largest ever oil and gas exploration tenders on Tuesday, as the country looks to sustain an investment upswing spurred by major discoveries. […]
DEA awarded new exploration licence in the Nile Delta Onshore Egypt
German upstream company is back to exploration in Egypt! The Egyptian Natural Gas Holding Company (EGAS) has awarded one new licence to DEA in its 2018 Bid Round. The East Damanhour exploration block (originally offered as Block 10) is covering 1,418 square kilometres and is located west of the Disouq development leases, where DEA is […]
Carbon Holdings sponsors Egypt Petroleum Show EGYPS 2019
Chairman and CEO of Carbon Holdings, Basil El-Baz, will be attending the Egypt Petroleum Show (EGYPS) and will be a key note speaker discussing the petrochemical industry and Egypt’s economy. Carbon Holdings, a mid-to-downstream petrochemical company and catalyst of industrial development in Egypt, announced today that it will participate in and sponsor the 2019 Egypt […]
Neptune, DEA submit bids for Edison oil and gas assets – sources
Pair of companies looking to take over oil and gas assets from Italian player. Private equity-backed Neptune Energy and Germany’s DEA have submitted bids for the oil and gas assets in Egypt, Italy and elsewhere which EDF’s Italian unit Edison is selling, industry sources said on Friday. The offers are non-binding at this stage, one […]
El Molla at Rome MED 18: Italy is Europe’s energy gateway
Egyptian Petroleum Minister Tarek El Molla said on Friday at Med Dialogues in Rome that Italy is a country that Egypt wants to approach because it is “Europe’s energy gateway”. “At the start of this year we signed a memorandum of understanding on energy with the European Union that will make Egypt a considerable energy […]
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 […]
Qalaa Chairman presents Landmark ERC Case Study at Africa Investment Forum
Qalaa Holdings Chairman Ahmed Heikal Presents Landmark ERC Case Study at Africa Investment Forum in Johannesburg, South Africa. Qalaa Holdings Chairman and Founder Ahmed Heikal showcases US$ 4.3 bn greenfield refinery as a successful example of a private sector-led infrastructure mega-project that will provide a domestic substitute for c. 40% of Egypt’s diesel imports. Ahmed […]
BP to spend $2.8bn in Abu Dhabi, Egypt to boost Middle East presence
Oil major BP aims to spend $1.8 billion in Egypt next year and $1bn annually in Abu Dhabi as it looks to expand its operations in the Middle East on the back of new discoveries and licensing rounds, according to its chief executive. BP, one of the world’s largest oil companies and the earliest explorer […]
TransGlobe Energy sets 2019 Capital Budget for Egypt at $24.1 million
TransGlobe Energy Corporation announces the 2019 plan and capital budget. HIGHLIGHTS 2019 capital budget of $34.1 million (before capitalized G&A) Egypt $24.1 million Canada $10.0 million (C$13.0 million) 2019 production of 14.0 to 15.0 MBoepd with a mid-point of 14.5 MBoepd Egypt 11.6 to 12.4 MBopd in 2018 Canada 2.4 to 2.6 MBoepd in 2018 […]
15% reduction in oil & gas production costs in Egypt
The Ministry of Petroleum succeeded in cutting the cost of producing oil and gas by 15%, which saves substantial funds and increases production. A source at the Ministry of Petroleum and Mineral Resources told Daily News Egypt that a programme was developed to cut production costs through increasing reliance on local products and companies in […]
