TransGlobe acquires additional interest in West Gharib Properties : TransGlobe Energy Corporation is pleased to announce it has completed the acquisition of an additional 25 percent in certain leases on its West Gharib (Arab Republic of Egypt) properties from its partner, a private company registered in Cyprus, for consideration of US$18.0 million adjusted to June 1, 2008. This acquisition brings TransGlobe's holdings to a 100 percent working interest on all nine West Gharib leases.
Atwood snags 2 contract commitments for Aurora, Southern Cross : Atwood Oceanics, Inc. announced that the Atwood Aurora, a LeTourneau Super 116E Jackup currently being constructed in Brownsville, Texas by the Company's wholly-owned subsidiary, Atwood Oceanics Pacific Limited, has been awarded a contract by RWE Dea Nile GmbH ("RWE") for work offshore Egypt.
OPEC Weekly Prices dive below USD $110 : The weekly average oil prices of the Organization of Petroleum Exporting Countries (OPEC) dropped to USD $109.73 per barrel last week, the Vienna-based cartel said.
GeoGlobal Discloses Exploration Activities in Egypt : GeoGlobal Resources Inc. has disclosed an update of certain of its exploration activities conducted during the quarter ended June 30, 2008 and through August 13, 2008. The Company advised that on August 11, 2008 it filed its quarterly report on Form 10-Q for the period ending June 30, 2008.
OPEC trims demand outlook: Opec cut its forecast for global oil demand growth in 2008 for a fifth month and said production is more than adequate, signalling a more comfortable supply and demand balance.
Egypt to Launch International Auction for Gas, Oil Exploration : Egypt is preparing to launch an international auction for gas and oil exploration projects in seven new areas in the Mediterranean, Cairo-based Al Ahram daily reported.
Plexus Snags Contract from Shell Egypt for Wellhead Systems : Plexus Holdings PLC has agreed with Shell Egypt to supply, subject to completion of relevant contract terms, the Company’s proprietary POS-GRIP High Pressure/High Temperature (HP/HT) exploration rental wellhead systems in the Egyptian Eastern Mediterranean Sea.
Current Rig Utilization in Egypt - June 08
Commodity Price
OPEC Basket Daily
19-08-2008
|
108.26
Brent Crude Daily
19-08-2008
|
113.25
Natural Gas Daily
19-08-2008
|
8.08
Egypt Suez Blend 33 Weekly
08-08-2008
|
113.85
Stock Market
Alexandria Mineral Oils
(AMOC.CA)
Date
|
Start
|
End
20-08-2008
|
71.50
|
71.25
Sidi Kerir Petrochemicals
(SKPC.CA)
20-08-2008
|
16.19
|
15.77
Currency Exchange Rates19-08-2008
US Dollar
5.3196 EGP
Euro
7.8277 EGP
Sterling
9.9274 EGP
Yen
4.8202EGP
Egypt Oil & Gas Report
Egypt boasts one of the most promising energy industries in the world. Egypt offers companies, both large and small, far ranging opportunities within its oil & gas sector.
Egypt Rig Market Report 2007
Egypt Rig Market Report is a comprehensive guide to the Egyptian rig market, exploring new opportunities and aiding the decision-making process of every contractor and operator.
