Beach Energy's sale of Egypt's Abu Sennan interest to Rockhopper pre-empted
As announced on 10 August 2015, Beach Energy entered into an agreement with Rockhopper Exploration in relation to the sale of its wholly-owned subsidiary, Beach Petroleum (Egypt), whose core asset is a 22% interest in the Abu Sennan Concession in Egypt. Completion was subject to satisfaction of certain conditions precedent, including waiver or non-exercise of […]
IPR completes first horizontal well in Egypt's Western Desert
After 21 days IPR TransOil Corp. (IPRTOC) has successfully drilled and completed the first horizontal well in the Northeast Alamein (NEAL) field of the Yidma/Alamein Concession in Egypt’s Western Desert, the NEAL-15H. The NEAL-15H targeted the Abu Roash “G” (ARG) Dolomite with a total measured depth of 8,100 ft, yielding a horizontal section (leg) of […]
Rockhopper Exploration acquires Beach Petroleum Egypt in $22 million deal
Rockhopper Exploration plc, the oil and gas exploration and production company with interests in the North Falkland Basin and the Greater Mediterranean and North Africa region, announced the acquisition of a portfolio of non-operated production and exploration interests in Egypt from Beach Energy Limited for a headline consideration of US$22.0 million. Highlights: Rockhopper to acquire […]
Apache announces first-quarter financial and operational results
Apache Corporation announced a first-quarter 2015 net loss of $4.7 billion or $12.34 per diluted common share, which includes an after-tax ceiling-test write down of $4.7 billion, as a result of substantially lower commodity prices. When adjusted for certain items that impact the comparability of results, Apache’s first-quarter loss totaled $139 million or $0.37 per […]
Eni reports record level of oil production in the Western Desert
In just three years, the company has doubled production in the Western Desert, reaching 70 thousand barrels of oil per day. Eni reached a record level of production of 70 thousand barrels of oil per day in the Western Desert of Egypt, doubling its level of production in the area in just three years. Such […]
Kuwait Energy announces oil discovery at Abu Sennan
Kuwait Energy, an independent oil and gas company with assets across the MENA region, and their main partner, the Egyptian General Petroleum Corporation (EGPC), announced that the exploration well ASH-1ST on the Abu Sennan concession, located in the Western Desert onshore Egypt discovered hydrocarbons in the Alam El Bueib (Early Cretaceous) Formation. Kuwait Energy holds […]
Apache Corporation reports strong results from discoveries in Egypt's Western Desert
Apache Corporation reported strong appraisal- and development-drilling results from Egypt following the previously announced discovery of two new oil fields in the Western Desert. The initial discoveries were announced with the fourth quarter 2014 results on Feb. 12, 2015. Development leases were approved by the Egyptian General Petroleum Corporation (EGPC) and Ministry of Petroleum in […]
Eni signs a $5 billion framework agreement for the development of Egypt's oil and gas resources
The Egyptian Minister of Petroleum and Mineral Resources, Sherif Ismail, signed with Eni’s CEO, Claudio Descalzi, a Head of Agreement aimed at the development of the oil and gas resources of the Country while preserving the return of Eni’s investments. The Head of Agreement envisages investments of an estimate 5 billion dollars of total value […]
