Egypt’s gas exports through Idku LNG plant increase to 750 mmcf/d
The quantities of gas exported through Idku have increased after linking 250 mmcf/day of the Giza and Fayoum fields to the local production: source. The Egyptian Natural Gas Holding Company (EGAS) estimated the quantities of natural gas exported through Dutch Shell’s Idku gas liquefaction plant at 750 million cubic feet per day (mmcf/day) compared to […]
Egypt extends deadline for Red Sea Offshore Bid Round to September
The South Valley Egyptian Petroleum Holding Company (Ganope) announced the extension of the closing date of its Offshore Red Sea Oil & Gas Exploration Bid Round till mid-September. The Offshore Red Sea Bid Round (O.R.S.B.R 2019) includes ten (10) Exploration Blocks in the Economic Water of the Red Sea as shown in the map. The […]
Egypt’s arrears to IOCs reduced to $900 million at end of June – El Molla
Egypt’s arrears to foreign oil companies declined to $900 million at the end of June from $1.2 billion a year ago, the petroleum minister said on Thursday, adding that the remaining amount would be paid soon. The Egyptian government had told the International Monetary Fund in a letter in January it intended to “eliminate” arrears […]
Wintershall Dea supports Petroleum Sector’s Blood Donation Campaign
Eng. Sameh Sabry, Wintershall Dea’s Senior Vice President and Managing Director – Egypt urges colleagues at Wintershall Dea and SUCO to donate blood and contribute to the Egyptian Petroleum Sector’s Nationwide Blood Donation Campaign. The Egyptian Petroleum Sector’s first Nationwide Blood Donation Campaign was launched today by H.E. Eng. Tarek El-Molla, The Egyptian Minister of […]
Halliburton, Petroleum Ministry sign Employee Development Agreement
Halliburton Company has signed a Memorandum of Understanding (MOU) with the Egyptian Ministry of Petroleum & Mineral Resources (MoP) to support a specialized development program for Egypt’s middle management and young professional employees. The MOU, which aligns with the ministry’s Oil and Gas Modernization Program, is a collaborative agreement under which Halliburton will utilize its […]
Egypt launches 2019 Bid Round for Red Sea Oil & Gas Exploration
The Ministry of Petroleum and Mineral Resources of Egypt (M.O.P) invite international qualified and interested companies having the technical and financial capabilities for an International Bid Round to explore and exploit oil and gas in offshore Egyptian Red Sea based on PRODUCTION SHARING AGREEMENT (P.S.A). South Valley Egyptian Petroleum Holding Company (Ganope) is the entity […]
15% reduction in oil & gas production costs in Egypt
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 […]
El Molla: New form of exploration agreement for Red Sea Bid Round
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 […]
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 […]
