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Tag: Saipem
shell

Shell reduces investment in Burullus, Rashid concessions to $158.9 million in operating expenses

Posted: October 10, 2016 at 6:55 pm   /   Oil & Gas

Daily decline rate 10m feet of gas at the company’s concession and there’s no production increase. Royal Dutch Shell reduced its investments for the current fiscal year (FY) in Burullus and Rashid concessions to only $158.9m for maintenance and operating expenses. A source within the petroleum sector told Daily News Egypt that the company allocated […]

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Shell's dues increase to $1.3bn from Burullus, Rashid gas returns

Posted: October 3, 2016 at 9:58 pm   /   Oil & Gas

Shell postponed the implementation of the 9B stage until the ministry commits to repaying outstanding debts, says source. The Ministry of Petroleum’s outstanding dues to the Royal Dutch Shell Company increased to $1.3bn from $1.1bn in July from the returns of the foreign partner’s gas share produced from Rashid and Burullus fields’ concessions, which BG […]

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Castoro Sei

Saipem’s Castoro Sei pipelayer platform for Zohr work docks at Limassol, staying six months

Posted: August 1, 2016 at 8:24 pm   /   Oil & Gas

Saipem’s pipelayer Castoro Sei (Beaver Six) was fully ensconced at Limassol port on Sunday before starting work on underwater pipelines for Egypt’s giant Zohr gasfield. The Zohr gas field was discovered by Eni in August 2015, using the drillship Saipem 10000, which is still operating in the area. The ‘floating factory’ Castoro Sei will remain […]

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saipem

Saipem awarded EPCI contract for Zohr offshore field development

Posted: July 7, 2016 at 3:58 pm   /   Oil & Gas

Saipem has been awarded new contracts and variation orders in E&C offshore, for an overall amount in excess of 1.5 billion euros. The most significant contract relates to the Field Development Project for the “supergiant” Zohr gas field, located off the Egyptian coast in the Mediterranean sea. Petrobel has awarded Saipem an Engineering, Procurement, Construction […]

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Shell and BG to receive $400 million of dues by end of June

Posted: May 18, 2016 at 12:51 pm   /   Oil & Gas

The $3.2 billion debt is promised to be fully repaid by the end of 2016. Shell and British Gas (BG) have reached an agreement with the Petroleum Ministry to obtain $400m of their financial dues by the end of June, in exchange for renting a driller and resuming work in the 9B phase of the […]

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Video: Saipem 10000 – Interviews

Posted: March 25, 2016 at 6:56 pm   /   Oil & Gas

These video interviews were conducted towards the end of 2015 while the Saipem 10000 was at the port of Genova for maintenance and upgrading works, prior to leaving for operations in Egypt. (Source: Saipem)

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BG demands Egyptian government to raise gas price to $7 per million BTUs

Posted: March 22, 2016 at 10:51 pm   /   Oil & Gas

After stopping 9B stage, BG asks government to raise the price of gas to $7 or pay $1bn immediately. BG, a subsidiary of Royal Dutch Shell, is negotiating with Egyptian General Petroleum Corporation (EGPC) to price gas at $7 per million BTUs in the 9B concession area in Egyptian Mediterranean waters. EGPC has offered $ […]

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Petroleum marine services provider PMS wins four bids in Egypt

Posted: March 14, 2016 at 1:28 pm   /   Oil & Gas

Egypt-based Petroleum Marine Services Company (PMS) won executing four large projects including the expansion project of the third basin in Ain Sukhna port for Armed Forces Engineering Authority. Chairman El-Sayed El-Badawi stated Sunday that PMS is to execute the developmental project of platform Amal C for PICO International Petroleum (PIP), Egypt’s largest private sector oil […]

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Eni completes authorization process for the development of Zohr gas field

Posted: February 22, 2016 at 3:07 pm   /   Oil & Gas

The Egyptian Ministry of Petroleum has approved that EGAS grants Eni the Zohr Development Lease, which allows for the development of the gas field located offshore Egypt. The Egyptian Ministry of Petroleum and Mineral Resources has approved that the Egyptian Natural Gas Holding Company (EGAS) grants Eni the Zohr Development Lease, which, following the contractual […]

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El-Molla announces completion of administrative procedures for Zohr development

Posted: February 21, 2016 at 8:56 pm   /   Oil & Gas

The Minister of Petroleum and Mineral Resources, Eng. Tarek El-Molla, announced that the administrative procedures have been completed for the development of Zohr, the super-giant gas field in the Shorouk concession in Egypt’s Mediterranean Sea economic waters, pointing out that the field’s development lease to Eni’s wholly-owned company Ieoc has been ratified. Eng. El-Molla explained […]

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