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 […]
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 […]
