Issue: April 2013

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INSIDE ISSUE

  • Inconvenient Tenders… Implications for Service Companies

    In the Egyptian petroleum sector the system of competitive tendering does little to promote transparency and fair competition among service companies. In a price-driven market, the emphasis is placed on the cheapest option. But at what cost? Egypt Oil and Gas explores the tendering process currently utilized in the Egyptian oil and gas sector in an effort to examine the long-term consequences of ''cheapest is best.''

  • Egypt-Israel Gas Deal: Behind Closed Doors

    On March 25 the Cassation Court accepted an appeal for the retrial of former Minister of Petroleum Sameh Fahmy. The ex-official was charged with the wasteful use of public funds by allegedly facilitating the sale of Egyptian natural gas to Israel at a significantly below market prices. For his role in the deal, Fahmy was accused of corruption, negligence and the subversion of public interest.

  • Debt, Fuel, Water, and Social Stability

    The Egyptian oil and gas sector, while crucial to the country's economy, is presently playing a dangerous financial and political game that is simultaneously generating substantial obstacles to future macroeconomic growth and development. Over the last year, evidence of this game is to be found in the media's wide reporting of the high debt levels owed by the Egyptian government to various oil and gas production companies.

  • Upstream Anxiety: A Commentary on the Current Challenges within the Upstream Business Sector of the Egyptian Oil and Natural Gas Industry

    The 2011 revolution transformed the Egyptian government and left a sense of vagueness in the upstream business sector in Egypt. Revisions of the current gas export agreements resulted in amendments to increase gas prices in order match the current international benchmarks.

  • Hesham Fouad, Chief Executive Officer, SAPESCO

    For our issue devoted to the Egyptian service sector Egypt Oil and Gas obtained an exclusive interview with Hesham Fouad, Chief Executive Officer of Sahara Petroleum Services Company (SAPESCO). The exclusive interview highlights SAPESCO's role as a leading service provider and addresses various issues confronting the Egyptian energy sector.

  • Mohamed H. El Gohary, Chairman & Managing Director of International Drilling Material Manufacturing (IDM)

    IDM is a joint venture between Ganope, Petrojet and Enppi. Star Oil and Gas Limited and Petro Materials are also partners in the entity. IDM's mission is to utilize state of the art manufacturing technologies to produce, assemble, thread, maintain and repair casing and tubing threads. IDM services Qarun, Bapetco, Agiba, Petrobel, Khalda and Petrosilah. Egypt Oil and Gas Newspaper recently had the privilege of interviewing IDM Chairman and Managing Director Mohamed El Gohary.

  • Sino Tharwa Drilling Company

    Sino Tharwa Drilling Company is the second largest land-drilling contractor in Egypt. Recently the company initiated efforts to expand into the offshore industry as well. With extensive financial and logistical support from China and Egypt, SinoTharwa provides drilling and work-over rigs to the oil and gas industry in Egypt. SinoTharwa has maintained a strong presence in Egypt since its inception eight years ago. The company benefited greatly from solid support of both Chinese and Egyptian backers as well as a motivated and well-experienced management team.

  • Power Generation Project at East Baharia

    Qarun Petroleum Company has obtained approval from Apache Corporation for the construction of a new dual fuel power station in East Baharia. East Baharia is one of the key production areas for Qarun with a production rate of 10,000 BPD. This project was initiated to allow Qarun to gain more achievement in oil production while at the same time minimizing the oil to barrel production cost.

  • Al Amal Program completes its 5th round successfully

    The Al Amal Program was initiated in 2007 and developed by a team of experts from diverse oil and gas companies, universities and other Egyptian corporations. It is organized by the Egyptian Geophysical Society (EGS) and EPEX. The project was designed to fill any gap between industry and academia to help top graduates find their way to the market. The program also aims to help petroleum companies select the qualified and high caliber candidates for future positions in the Egyptian oil and natural gas sector.

  • Monthly News

    News of the month, know more about the recent activities this industry has shown during March 2013.