Aggreko announces entry into the Egyptian market
The power-management company, Aggreko, hosted press conference today and formally announced its entrance into the Egyptian market, Egypt Oil & Gas reports. The company specializes in the rental of electricity generators to power operations at oil and gas fields.“We do not offer generic solutions. We tailor the solutions according to the needs of each company,” […]
Report: Egypt to pay $750 million to IOCs by end of year
Egypt is to pay USD 750 million of debts owed to IOCs by the end of the year, local media reported on Wednesday. Outstanding arrears stand at about USD 2.3 billion following a USD 2.2-billion payment last June, daily Al Ahram reported, citing the Ministry of Petroleum, headed by Minister Tarek El Molla. Egypt, plagued […]
El Molla: Petroleum investments reached $8.1 billion in FY 2016/2017
Minister of Petroleum Tarek El Molla said Saturday that the current fiscal year witnessed an estimated investment of $ 8.1 billion in the petroleum sector. In a press conference, he said that the Petroleum Ministry targets $10 billion in investments during the current fiscal year 2017/2018, pointing out that the petroleum sector’s strategy aims to […]
Egypt signs $2.4 million exploration agreement with Trident Petroleum
Egypt signed Saturday a new oil and gas agreement with Trident Petroleum to explore for oil and natural gas in the Gulf of Suez worth at least $2.4 million. The agreement was signed by Egypt’s Petroleum Minister Tarek el-Molla, Egyptian General Petroleum Corporation’s (EGPC) Chairman Abed Ezz el-Regal and Trident’s President Ehab Awad. The agreed […]
Saudi Aramco: Mapping the Red Sea
Saudi Aramco undertakes an unprecedented geological task on the Kingdom’s West Coast as we look to first understand, and then uncover, the treasures buried beneath the waters of the Red Sea. The task of mapping the seabed was colossal. Almost a decade ago, Saudi Aramco made the decision to conduct the world’s largest single hydrographic […]
Red Sea seismic survey results expected in 1H 2018
The results of a seismic survey in the Red Sea are expected in the first half of 2018, industry sources told Youm7. The ministry anticipates that exploration operations in the Red Sea will attract investments of USD 750 million. (Source: Enterprise.press)
TransGlobe announce update on Boraq-5, disappointed with test results
TransGlobe Energy Corporation announces an update on the Boraq 5 test results. Arab Republic of Egypt South Alamein Concession (100% working interest, operated) In the Western Desert, the Company has completed testing two zones in the Boraq 5 appraisal well. The Boraq 5 well failed to produce any hydrocarbons from the two zones. The lower […]
ExxonMobil delegation in Egypt to discuss possible oil and gas projects
A delegation from ExxonMobil reportedly arrived in Egypt to discuss possible oil and gas projects within the next 5-7 years, an Oil Ministry source says, Youm7 reports. The delegation met with officials from the EGPC, EGAS, and the Ganoub El Wadi Petroleum Holding Company (Ganope). The company is reportedly particularly interested in exploration projects in […]
El Molla: Egypt's proven reserves of natural gas exceed 72 trillion cubic feet
Minister of Petroleum and Mineral Resources Tarek El Molla revealed that the proven reserves of gas in Egypt exceed 72 trillion cubic feet (tcf), while the uncertain reserves reach 120 trillion cubic feet, stressing that international scientific research organizations say the promising future awaits the Eastern Mediterranean region with regard to gas. “We expect oil […]
Oil and Gas Professionals Unlock Challenges and Opportunities at ADIPEC 2017
• Technical Industry Panel Discussions Provide Roadmap for a Rapidly Changing Energy Landscape. • ADIPEC Brings Together Over 10,000 Industry Professionals, Thought Leaders and Technical Experts to Drive Oil and Gas Industry Agenda. Transformation, diversification and evolution will be top keywords at the world’s leading annual conference for oil and gas professionals, the Abu Dhabi International Petroleum […]