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Tag: Petroleum Ministry
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15% reduction in oil & gas production costs in Egypt

Posted: November 8, 2018 at 1:54 pm   /   Oil & Gas

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 […]

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Egypt USA

El Molla: New form of exploration agreement for Red Sea Bid Round

Posted: October 28, 2018 at 3:18 pm   /   Oil & Gas

The Ministry of Petroleum has finalised the form of the new petroleum agreements, to be included in the first tender for natural gas exploration in the Red Sea. The tender is scheduled to be launched at the end of 2018. The new agreement form includes incentive clauses for the foreign investor, most notably the increase […]

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Oil

Egypt spends $1.5 billion/month on petroleum products for local market

Posted: October 24, 2018 at 1:27 pm   /   Oil & Gas

Egypt spends more than $1.5 billion per month in providing petroleum products to the local market, Petroleum Minister Tarek El Molla said on Tuesday, a bill that covers both imports and the share of foreign oil companies. Egypt now spends $700 million-$800 million buying the foreign companies’ share in local joint venture oil production due […]

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Bloomberg Markets

Egypt planning new Oil & Gas production contracts to attract investors

Posted: October 18, 2018 at 12:58 pm   /   Oil & Gas

New, simpler terms for exploration in country’s frontier areas. Egypt seeks investment as it targets gas shipments to Europe. Egypt is working on a new model for future oil and natural gas production contracts in undeveloped areas to spur exploration and help become self-sufficient in energy, oil ministry and company officials said. The most populous […]

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Rosetta

Ministry agrees with partners to speed up development of new gas discoveries

Posted: September 13, 2018 at 2:10 pm   /   Oil & Gas

Adding 600 mmcf/day by end 2018, says source. The Ministry of Petroleum has agreed with the foreign partners to accelerate the development of the gas projects to link them to national grid before deadlines to turn into an exporting energy and re-fire the Damietta Liquefaction Plant and supply 250 million cubic feet (MMCF) of gas […]

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Halliburton

El-Molla, Halliburton discuss cooperation on oil & gas marketing platform

Posted: August 5, 2018 at 8:57 pm   /   Oil & Gas

Oil Minister Tarek El Molla met with Halliburton’s President of Eastern Hemisphere Joe Rainey to discuss cooperation in setting up an electronic platform for marketing available concessions for oil and gas exploration and production, under two agreements signed back in April. Minister of Oil Tarek el-Molla on Thursday discussed co-operation over petroleum projects with Joe […]

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Eni Drilling Rig

Nooros’ 14th well comes online, pumps additional 180 mmcf/d into national grid

Posted: May 28, 2018 at 2:44 pm   /   Oil & Gas

The 14th well at the Nooros gas field has come online, pumping an additional 180 million cubic feet per day (mmcf/d) into the national grid, the Oil Ministry announced yesterday. The Nidoco field, which was completed in record timing of under two months, brings total production from Nooros to 1.2 bcf/d. (Source: Enterprise.press)

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Halliburton

Oil Ministry wants Halliburton to advise on Egypt’s mature fields

Posted: May 25, 2018 at 1:30 pm   /   Oil & Gas

Oil Minister Tarek El Molla met with Halliburton’s Executive Vice President of Global Business, Eric Carre, on Wednesday to discuss the possibility of the company advising the ministry on strategies on further development on maturing fields, according to an Oil Ministry statement. They also discussed progress on the seismic database currently being developed to market […]

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EGAS BR 2018

EGAS offers 16 Mediterranean & Nile Delta blocks in oil & gas bid round

Posted: May 22, 2018 at 5:10 pm   /   Oil & Gas

The Egyptian Natural Gas Holding Company (EGAS) launched the 2018 bid round for oil & gas exploration on 16 concession areas: 13 blocks in the Mediterranean Sea and three concessions in the onshore Nile Delta region. The Egyptian Ministry of Petroleum announced in an Al Ahram newspaper advertisement that the deadline for receiving bids for […]

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EGPC-BR-2018

EGPC launches 2018 oil & gas exploration bid round for 11 blocks

Posted: May 22, 2018 at 5:08 pm   /   Oil & Gas

The Egyptian General Petroleum Corporation (EGPC) launched the 2018 bid round for oil & gas exploration on 11 blocks: Five in the Western Desert, two in the onshore Nile Delta region, one in the Eastern Desert, and three in the Gulf of Suez (both onshore & offshore). The Egyptian Ministry of Petroleum announced in an […]

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