Egypt spends $1.5 billion/month on petroleum products for local market
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 […]
Egypt planning new Oil & Gas production contracts to attract investors
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 […]
Ministry agrees with partners to speed up development of new gas discoveries
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 […]
El-Molla, Halliburton discuss cooperation on oil & gas marketing platform
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 […]
Nooros’ 14th well comes online, pumps additional 180 mmcf/d into national grid
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)
Oil Ministry wants Halliburton to advise on Egypt’s mature fields
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 […]
EGAS offers 16 Mediterranean & Nile Delta blocks in oil & gas bid round
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 […]
EGPC launches 2018 oil & gas exploration bid round for 11 blocks
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 […]
Egypt to offer 27 concessions in 2 bid rounds for oil & gas exploration
Egypt will launch two international bid rounds for oil and gas exploration in 2018, the petroleum ministry said in a statement on Monday. One bid round will cover 16 concession areas, mostly in the Mediterranean Sea, under state buyer EGAS, in its largest ever bid round. The other auction will cover 11 concession areas under […]
Zohr gas production at 900 mmcf/d, to reach 1.2 bcf/d by next week
Oil Minister Tarek El Molla announced that production from the Zohr gas field has reached 900 mmcf/d after the second and third production units were recently launched, a ministry statement reads. Production is also expected to reach 1.2 bcf/d within the next few days as the units’ output is optimized ahead of Ramadan. Another two […]
