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Tag: Western Desert

Edison's Executive VP: Egypt has 16th largest gas reserves

Posted: May 10, 2016 at 7:03 pm   /   Oil & Gas

Egypt has the potential to become a regional center in the Mediterranean due to its strategic location, infrastructure and qualified ports for the export and import of oil and gas”, says Nicola Monti, Executive Vice President – Exploration & Production, Edison. Egypt has the 16th largest gas reserves and is the 15th largest producer of […]

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OTC 2016: Onshore and offshore exploration success puts Egypt in spotlight

Posted: May 6, 2016 at 8:07 pm   /   Oil & Gas

Hopes are momentum generated will keep the country on companies’ radars despite today’s market conditions. Egypt’s energy sector has come a long way in five years, resetting itself from unstable to energized with the gigantic Zohr discovery and Apache Corp.’s success in the Ptah and Berenice fields attracting attention to the country’s onshore and offshore […]

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Apache, BP and others expand in emerging Egypt

Posted: May 4, 2016 at 1:23 pm   /   Oil & Gas

Houston-based Apache Corp. focused on growing in U.S. shale plays and selling most of its international holdings. But now that the oil bust is in full bloom, especially in North America, Apache’s chief executive is glad the company held onto its assets in Egypt. “In a sub-$50 oil world, the international assets really shine through,” […]

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Infographic: Egypt by the numbers (ABO Oil Magazine)

Posted: May 2, 2016 at 6:27 pm   /   Oil & Gas

From ABO Oil Magazine #31: Gas – the Mediterranean at full throttle View the full magazine at: http://www.abo.net/en_IT/publications/magazine.page (Source: ABO.net)

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Egypt to launch new oil exploration round for 11 blocks in Western Desert and Gulf of Suez

Posted: April 20, 2016 at 9:32 pm   /   Oil & Gas

Egypt plans to launch a new oil exploration round next week, offering 11 blocks in the Western desert and the Gulf of Suez, Petroleum Minister Tarek el-Molla said on Tuesday. He said that Egypt also plans to launch two gas exploration rounds this year. Egypt, which used to be a net energy exporter, has become […]

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Rockhopper Exploration acquires non-operated production and exploration assets in Egypt from Beach Energy

Posted: April 18, 2016 at 8:20 pm   /   Oil & Gas

Rockhopper Exploration plc, the oil and gas exploration and production company with interests in the North Falkland Basin and the Greater Mediterranean region, is pleased to announce amended terms for the acquisition of a portfolio of non-operated production and exploration interests in Egypt from Beach Energy Limited. The Company originally announced that it had agreed […]

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Seeking Alpha: Apache Energy – Turnaround and Future Growth

Posted: April 18, 2016 at 10:00 am   /   Oil & Gas

Summary The company has $1.5 billion in cash and a $3.5 billion credit line that does not mature until 2020. Even then it can be extended. The current ratio is nearly two-to-one. Egyptian wells are low cost and provide the means to profitably increase production. North Sea wells are more expensive but also highly profitable. […]

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Seeking Alpha: Why You Should Be Long Apache

Posted: April 13, 2016 at 4:43 pm   /   Oil & Gas

Summary • Apache has recovered impressively this year on the back of operational improvements in its production profile and a slight recovery in oil prices, a trend that will continue. • Apache has achieved substantial cost reductions that have allowed it to achieve positive cash margins across the board on the back of low operating […]

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Apache With Shell Eye Egypt for Unconventional Gas in June

Posted: March 15, 2016 at 7:25 pm   /   Oil & Gas

Partners to drill first well this month at Western Desert site Egypt seeking to boost gas output to meet rising local demand Apache Corp. and Royal Dutch Shell Plc plan to start producing unconventional gas from their joint venture in Egypt’s Western Desert by the end of June even as Apache is cutting investment in […]

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ENAP Sipetrol to complete $22m Western Desert pipeline next June

Posted: February 28, 2016 at 1:03 pm   /   Oil & Gas

$80 million planned investment through the end of 2017 for development of gas fields. Chilean ENAP Sipetrol, the foreign JV partner in Egyptian Petroleum Sector subsidiary Petroshahd, plans to complete the construction of a 90 km pipeline in the Western Desert by next June at a cost of $22 million. Eng. Sayed Rezk, ENAP Sipetrol’s […]

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