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Tag: Zohr

EGAS receives EGP 1.8 bn loan from eight-bank consortium to fund Zohr, North Damietta

Posted: May 15, 2017 at 3:26 pm   /   Oil & Gas

A consortium of eight banks agreed to extend the Egyptian Natural Gas Holding Company (EGAS) an EGP 1.8 billion facility to finance its plans to increase natural gas production, Ahram Gate reports. The five-year loan is arranged by Banque du Caire; EGP 220 million from was contributed by Emirates NBD, according to Al Mal. The […]

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BNP Paribas

Can Egypt become a net gas exporter again?

Posted: May 5, 2017 at 3:53 pm   /   Oil & Gas

With total proven reserves of 65 trillion cubic feet at the end of 2015, Egypt is the 16th largest gas reserve-holder globally, says BNP Paribas. Egypt has laid out its vision to become a regional energy hub following discoveries of large offshore gas reserves in the Eastern Mediterranean. This vision is critical as the energy […]

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El Molla

El Molla: Natural gas surplus by 2020

Posted: May 3, 2017 at 1:10 pm   /   Oil & Gas

Petroleum Sector will sign five new deals with investments of $154m. The petroleum sector has achieved numerous developments during the current period in natural gas production. Egypt’s total production of gas reached 5 billion cubic feet per day, following a number of new discoveries. Minister of Petroleum and Mineral Wealth Tarek El Molla explains the […]

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President Sisi underlines importance of developing Egypt's petroleum sector

Posted: April 23, 2017 at 12:21 pm   /   Oil & Gas

President Abdel Fattah El Sisi highlighted on Thursday 20/04/2017 the importance of developing the petroleum and mineral wealth sector in Egypt, as a cornerstone of national economy. During a meeting with Prime Minister Sherif Ismail and Petroleum Minister Tarek el-Molla, the president urged attracting more foreign investments in this field. He also highlighted the necessity […]

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Egypt considers deferring as many as 25 LNG shipments this year and many more in 2018

Posted: April 23, 2017 at 12:04 pm   /   Oil & Gas

There are jitters in the LNG market over Egypt’s planned deferral of some 25 shipments of LNG this year and more in 2018, various sources tell Reuters. The nation’s appetite for LNG imports will decrease further once Egypt’s major gas developments come online, starting with the supergiant Zohr field this fall. Only a small portion […]

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East Mediterranean gas will improve energy security in Western Europe

Posted: April 20, 2017 at 9:24 pm   /   Oil & Gas

Quite suddenly, there is remarkable oil industry news to come out of the East Mediterranean region. If the plan is executed, in the space of seven years the balance of energy security in Western Europe will be radically changed. In geopolitical terms, this will be immense; when the planned Israel-Cyprus-Greece-Italy gas pipeline is built, European […]

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Energy regulators examine Egypt’s role in Mediterranean gas industry

Posted: April 5, 2017 at 4:39 pm   /   Oil & Gas

Zohr gas field discovery renews interest in the region. With the recent establishment of the Egyptian Gas Regulator, Mediterranean Energy Regulators (MEDREG) met in Cairo recently where they discussed the independence of regulators, their financial autonomy and gas market models, MEDREG said in a press release. MEDREG is the Association of Mediterranean Energy Regulators, which […]

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Offshore Technology: As firms flock offshore Egypt, can the nation reverse its energy fortunes?

Posted: April 2, 2017 at 9:03 pm   /   Oil & Gas

Egypt’s recent signing of three exploration agreements with Total, Eni and BP are just the latest in a flurry of offshore activity following a major gas discovery by Eni in 2015. The Egyptian government is keen for the country to prosper from its resource wealth, to repay mounting debt and end a reliance on energy […]

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Video: Egypt's Energy – OMC 2017 (Eni)

Posted: April 2, 2017 at 8:40 pm   /   Oil & Gas

“A new phase for Egypt. One of most important gas producer in North Africa.” Eni’s CEO Claudio Descalzi at OMC 2017 Ravenna, March 29th 2017 (Source: Eni)

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Rosneft CEO Igor Sechin makes working visit to Egypt

Posted: March 28, 2017 at 2:44 pm   /   Oil & Gas

President of Egypt Abdel Fattah el-Sisi hosted the participants of the consortium, developing the gas field Zohr: Rosneft Chief executive officer Igor Sechin, Eni Chief executive officer Claudio Descalzi, BP Chief executive officer Bob Dudley. The parties discussed the cooperation with Egyptian authorities and business partners (the stae-owned Egyptian Natural Gas Holding Company EGAS is […]

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