Newsletter subscribe
Tag: Zohr

Oil companies bullish on Egypt, eyeing more investment, discoveries

Posted: February 15, 2017 at 8:15 pm   /   Oil & Gas

Major international oil companies say they plan to step up their investments in Egypt, expecting to find more oil and gas now that Eni’s giant Zohr gas discovery has put its Mediterranean waters on the map. Once a net gas exporter, Egypt has turned into a major importer in recent years as growing domestic demand […]

No Comments read more

Eni and BP complete sale of 10% of Shorouk concession offshore Egypt

Posted: February 14, 2017 at 8:25 pm   /   Oil & Gas

Eni’s CEO, Claudio Descalzi, Bob Dudley, CEO of BP, and the Egyptian Minister of Petroleum, Tarek El Molla signed a deed completing the sale to BP of a 10% stake in the Shorouk concession, offshore Egypt. The signing took place in Cairo in the presence of the Prime Minister Sherif Ismail. Eni and BP first […]

No Comments read more

Eni begins drilling eighth Zohr well

Posted: February 13, 2017 at 12:56 pm   /   Oil & Gas

Eni began drilling the eighth well of the Zohr gas field last week after having completed drilling in seven other wells, an Oil Ministry source tells Al Shorouk. Eni will drill deeper on the eighth well to tap into larger reserves, the source added. (Source: Enterprise.press)

No Comments read more

FT: Oil and gas discoveries dry up to lowest total for 60 years

Posted: February 13, 2017 at 12:54 pm   /   Oil & Gas

Oil and gas discoveries are at a 60-year low, with the Zohr gas field discovered off Egypt’s shore in 2015 being the most recent giant discovery, the Financial Times reports. As large fields have become more difficult to find, many companies are putting exploration on ice, pushing the number of oil and gas discoveries in […]

No Comments read more

Post-Zohr reforms to boost appeal

Posted: February 11, 2017 at 3:15 pm   /   Oil & Gas

With first production from Eni’s giant discovery likely to be less than a year away and other finds on the path to development, the country is taking the chance to revamp and streamline the bidding process. Egypt’s upstream sector was given a much-­needed boost when Italian operator Eni discovered the ­giant Zohr field in the […]

No Comments read more

Players’ healthy interest outside Egypt’s Nile Delta

Posted: February 11, 2017 at 2:44 pm   /   Oil & Gas

Future upstream licensing in Egypt’s Nile Delta offshore province may be facing a hiatus, but the most recent round to have been completed by state-owned Egyptian General Petroleum Corporation signalled healthy interest by players in other acreages. Smaller, cash-strapped players were not much in evidence during the 2016 round, covering acreage in the Gulf of […]

No Comments read more

Sandvik secures contracts for strategic projects in Egypt worth $107 million

Posted: February 9, 2017 at 6:32 pm   /   Oil & Gas

Sandvik secures strategic projects in Egypt; establishes regional HQ in Dubai. Sandvik, a developer and producer of advanced stainless steels, special alloys, titanium, and other high-performance materials, has secured a number of strategic projects offshore Egypt to provide a comprehensive scope of Sandvik oil and gas solutions for the ongoing giant gas field developments in […]

No Comments read more