Prime Minister and Petroleum Minister meet with Shell’s Executive VP Sami Iskander
Prime Minister Sherif Ismail and Petroleum Minister Tarek El Molla met with senior Shell executive Sami Iskander on Monday to discuss existing and potential opportunities in oil and gas exploration in Egypt. Iskander, formerly chief operating officer of BG, is now executive vice president at Shell responsible for joint ventures. Discussions covered Shell’s exploration and […]
Egypt accepts six oil and gas exploration bids with investments of $200 million
Egypt has accepted six bids for oil and gas exploration worth a total investment of up to $200 million, the Ministry of Petroleum said on Friday. In May, the Egyptian General Petroleum Corporation (EGPC) announced an international tender for 11 oil and natural gas blocks in the Western Desert and Gulf of Suez as Egypt […]
Oil Ministry announces new natural gas discovery in Shell's Alam El Shawish Western Desert concession
An Oil Ministry report on the Alam El Shawish field in the Western Desert suggests that the concession has a production capacity of 20 mcf/d and preliminary estimated reserves of 500 bcf, Al Masry Al Youm reported. The well is operated by Royal Dutch Shell JV Badr El Din Petroleum (Bapetco). Production is expected to […]
Apache allocates $909m for drilling 97 wells in 2016/2017 – Head of Khalda
Company in discussions with foreign partner to increase investment and review plan in January. US company Apache plans to drill just under 100 wells in the western desert at a cost of $908.9m this fiscal year. This project is divided into 74 development wells at a cost of $552.5m and 23 exploratory wells at a […]
Shell to boost deepwater investments, but is owed substantially by government
Shell will be increasing exploration and drilling at its deepwater concessions in Burullus and Rosetta concessions, according to statements by Aidan Murphy, Shell Egypt VP and country chairman. The company plans to expand its investments there following promising data on the size of the concessions. Murphy also stated that the company is owed a substantial […]
Oil Ministry owes 70% of its arrears to five international oil companies
The Oil Ministry owes 70% of its arrears to five international oil companies (IOCs), unnamed sources at the ministry told Al Mal. The companies are BP, Shell, Eni, Apache, and Dana Gas, who together are owed over USD 2.5 bn out of total of USD 3.7 bn the ministry owes the industry. BP is owed […]
Bapetco adds 4,500 bbl/d of crude, natural gas from Western Desert
The Oil Ministry announced it has brought on-stream production from two wells, operated by Shell’s JV in Egypt Bapetco, in the Western Desert, producing at a rate of 4,500 boe/d, Al Masry Al Youm reported. The first well produces 12 mcf/d of natural gas, while the second produces 2,500 bbl/d of crude oil, according to […]
BP to process 650 mcf/d of North Alexandria gas at Shell’s Burullus processing plant
BP’s agreement with Royal Dutch Shell will see gas produced from North Alexandria project at $0.3 per million feet, says source. BP signed an agreement with Royal Dutch Shell to process 650m cubic feet of gas, produced from its North Alexandria project, at Shell’s Burullus station for $0.3 per million feet. A senior source in […]
Shell investments in FY 2015-16 increased by 15% to reach $450 million
Royal Dutch Shell has increased its investments in Egypt by 15% y-o-y to reach USD 450 mn, during FY 2015-2016, Oil Minister Tarek El Molla following a meeting with Andrew Brown, Shell’s global upstream director, Ahram Gate reported. Brown, who is visiting Egypt, added that the oil company sees promising investment opportunities in Egypt, particularly […]