Zohr reshapes the future of gas exploration in Egypt
The Egyptian Natural Gas Holding Company (EGAS) plans to launch an international bid for gas exploration in land and sea areas before the end of the first half of this year. According to Medhat Yousef, former vice president of the Egyptian General Petroleum Corporation (EGPC), the bids for exploration for oil and natural gas, which […]
Dana Gas receives $164m in arrears from Egypt in 2017
Dana Gas said that its receivables from Egypt stood at $164m in Egypt in 2017, accounting for 129% of billings, according to a filing to the Abu Dhabi Securities Exchange (ADX). Accordingly, Dana’s total receivable balance in Egypt fell 14% to $228m last year from $265m. Last week, Egypt’s Finance Minister Amr El-Garhy said the […]
Ganope chairman: Egypt completed 4,200 km of Red Sea 2D seismic survey
Exploration bidding in those offshore areas will increase Egypt’s reserves, said El-Molla. A seismic vessel, which is currently conducting two-dimensional seismic surveys in the Red Sea region, has completed a survey of 4,200km of the total 10,000 km, said Mohamed El-Shimy, chairperson of the South Valley Egyptian Petroleum Holding Company (Ganope). He adding that the […]
NBE to manage Zohr gas field's foreign currency transactions
The National Bank of Egypt (NBE) signed a contract Thursday to manage the cash receipts in foreign currency from the giant offshore Zohr gas field in the Mediterranean through accounts in the bank. This came during a ceremony that was attended by NBE’s chairman Hisham Okasha, Chief Executive Officer of the Egyptian General Petroleum Corporation […]
Zohr is a record-breaking deal for foreign partners
Introducing Zohr: Egypt officially started operations of the Mediterranean’s giant gas field Zohr last month, less than two and a half years since its discovery and is currently producing 350 million cubic feet a day. Development works of Zohr went faster than scheduled, as the initial plan was to start production in 2019. But the […]
Oil Ministry to issue O&G exploration tenders for Red Sea concessions soon
The Oil Ministry is preparing to sign 12 new oil agreements with a combined investment value of at least USD 433 million, Minister Tarek El Molla said yesterday, Al Masry Al Youm reports. The ministry is also gearing up to issue the first international tenders for oil and gas exploration along Egypt’s Red Sea border […]
EBRD provides $200 million loan to develop Egypt’s gas infrastructure
The EBRD is providing a US$200 million loan to the Arab Republic of Egypt to finance the modernisation of selected gas infrastructure facilities, which shall improve energy efficiency and reduce impacts on the environment. Egypt has an energy intensive economy compared to its neighbouring regional countries, making it among the top five greenhouse gas (GHG) […]
EGAS: Egypt to stop importing natural gas by end of 2018
According to Vice President of the Egyptian Natural Gas Holding Company (EGAS) Magdy Galal, the company aims to stop importing liquefied natural gas from abroad by the end of next year. According to Galal, the Ministry of Petroleum owns the bulk structure that qualifies Egypt to become a regional energy hub. It owns the Sumed […]
Shell in talks with Ministry to increase its share of Phase 9B gas production
Shell has apparently entered talks with the Oil Ministry to increase its share of gas produced to offset their investment costs from Phase 9B of the West Delta Deep Marine Concession, government sources tell Al Borsa. The company is looking to recoup the investment costs of developing the concession sooner, they added. The company plans […]
Egypt: Clearer thinking (Petroleum Economist)
The country has committed itself to reducing the volume of associated gas that’s flared at oilfields. No visitor to Cairo or any other city in Egypt can help noticing the air pollution—the perennial smog that chokes the lungs as much as it obscures the view of the Pyramids and other tourist sites. While there’s no […]
