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 […]
El Molla: Egypt to hold oil exploration tender in H2 2018
Egypt will launch international tenders for oil exploration in the second half of 2018, petroleum minister Tarek El-Molla said. El-Molla added that Egypt is also planning to partner with new companies in H2-19, according to Al-Ahram Newspaper. The North African state has been able to contract with global firms for oil exploration in new areas […]
Egypt, Shell sign agreement for the development of JV Bapetco
The Egyptian General Petroleum Corporation (EGPC) has signed an agreement with Shell Egypt to develop Badr El Din Petroleum Company (Bapetco). The deal has been inked by both head of EGPC and chairman of Shell Egypt Gasser Hantar, according to the petroleum ministry’s statement. This initiative came as part of the petroleum sector’s strategy to maximise the […]
Baker Hughes signs deal for online portal marketing Egypt’s upstream opportunities
The Egyptian Petroleum Ministry on Tuesday signed an agreement with Baker Hughes, a GE company, to establish an online portal to promote Egypt’s oil and gas exploration zones in a bid to attract foreign investments, Al-Ahram Arabic website reported. As part of the Egypt Portal project, a digital investment map for concession areas in Egypt […]
Egypt signs Gulf of Suez seismic survey agreement with Schlumberger
Egypt has signed a deal with oilfield services company Schlumberger to conduct a seismic survey in the Gulf of Suez, the oil ministry said on Wednesday, part of efforts to encourage firms to invest in exploration work in the area. The oil ministry announced an agreement with an international company on Monday to conduct a […]
El Molla: IOC investment in Egypt's Oil & Gas sector reached $10 bn this year
Investment by international oil companies reached USD 10 billion so far in FY2017-18, Oil Minister Tarek El Molla said in an interview with Al Borsa. This will likely increase, as the ministry plans to issue exploration tenders, including in the East Mediterranean and in the Nile Delta region sometime in 2H2017-18, said El Molla. The […]
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 […]
