Egypt signs 9 Oil & Gas E&P agreements in Mediterranean, Western Desert
EGPC signs USD 450 million in Oil and Gas E&P agreements: The state-owned Egyptian General Petroleum Corporation (EGPC) yesterday signed nine oil and gas exploration and production agreements that will see companies invest at least USD 452 million to drill 38 wells in concessions in the Mediterranean and Western Desert, the cabinet said in a […]
New discovery in Egypt’s Western Desert to produce 7000 bopd, 10 mmcfd of gas
The Ministry of Petroleum and Mineral Resources on Thursday announced a new oil discovery in the Western Desert where an average of 7,000 barrels of crude oil and 10 million cubic feet of gas are envisaged to be produced on daily basis. The oil discovery, in the Western Desert’s Abu Sennan, an area near the […]
Rockhopper provides operational update on Abu Sennan concession in Egypt
Rockhopper Exploration has provided an operational update in relation to the Abu Sennan concession, Egypt. Through Rockhopper Egypt, Rockhopper holds a 22% working interest in Abu Sennan. ASH-2 The commitment well, ASH-2, was spudded on 21 October 2019, and reached total depth of 4,030m measured depth (‘MD’) in the Alam El Bueib Formation on 22 […]
United Oil & Gas raises $6.3 million to fund Rockhopper Egypt acquisition
United Oil conditionally raises USD 6.3 million to partially fund Rockhopper Egypt acquisition: Irish energy company United Oil & Gas has conditionally raised USD 6.3 million to partially finance its planned USD 16 million acquisition of Rockhopper Egypt’s business, United Oil said in an LSE disclosure. The company raised the amount through a share issuance, […]
Shell appoints Citi for $1 billion sale of Egypt Western Desert assets
Royal Dutch Shell has appointed investment bank Citi to run the sale of its onshore Egyptian oil and gas assets which could fetch around $1 billion, sources close to the process said. The sale process is expected to be officially launched at the end of November, the sources said. Shell said last month it plans […]
Onshore Egypt still attractive even as Shell sells assets – Upstream Opinion
OPINION: Shell’s decision to exit onshore assets in Egypt highlights a trend by major producers to abandon ageing fields that need intensive efforts to keep them producing without the expected reward. By contrast, heavyweight international oil companies are turning their focus offshore in the Mediterranean Sea, which offers significant exploration upside. The departure of major […]
Shell Egypt to sell its onshore Western Desert upstream assets
SHELL EGYPT TO MARKET ITS CURRENT ONSHORE UPSTREAM ASSETS IN THE WESTERN DESERT TO FOCUS ON OFFSHORE GAS GROWTH Shell Egypt is to market its current onshore upstream assets in the Western Desert in order to fully concentrate on growing its Egyptian offshore exploration and integrated gas business. Wael Sawan, Shell Upstream Director, said: “Shell […]
United Oil & Gas’ acquisition of Rockhopper to close by 4Q2019
United Oil & Gas’ acquisition of Rockhopper Egypt “progressing well”: Rockhopper Exploration’s sale of its Egypt business to Irish energy company United Oil & Gas is on track to be completed by the end of 4Q2019, Rockhopper said in a statement yesterday. Rockhopper and United had signed a USD 16 million share purchase agreement in […]
Apache JV Qarun Petroleum drilled 10 Western Desert exploration wells
Qarun Petroleum, a joint venture between Apache and the Egyptian General Petroleum Company, has drilled 10 exploratory wells in the Western Desert, producing a combined 5k bbl/d, the Oil Ministry said in a statement yesterday. This will account for 16% of the company’s total production. The company is now considering investing USD 237 million during […]
EGPC to launch new oil and gas exploration bid round by end of year
The Egyptian General Petroleum Corporation (EGPC) aims to launch an oil and gas exploration tender by the end of this year, to increase the exploration operations in the different concession areas, and boost rates of production, A source in the petroleum sector told Daily News Egypt that EGPC is currently planning the areas to be […]
