Massive flames shot into the sky over northern Sinai on Saturday after a section of a pipeline that carries gas from Egypt to Israel and Jordan exploded, according to a security official in the region.
The analytical report issued by Egypt Oil & Gas to assess the performance of Khalda Petroleum revealed disparities in the company's production indicators of crude oil and natural gas.
UAE-based Dana Gas completed the drilling of a new exploratory well in the Nile Delta area. PLUTO-1 is a gas-producing well. It was drilled using the EDC-66 rig to a vertical depth of 7,300 feet, the cost of which has averaged $2 million.
BG Egypt today announced gas production had started on 30 January 2012 from the second stage of West Delta Deep Marine (WDDM) Concession Phase 7, representing another successful milestone in the phased development of WDDM.
BP has won a tender to buy a cargo of jet fuel for loading in the first week of February from Egypt's Middle East Oil Refinery (Midor) traders said on Friday.
Citadel Capital SAE, the Egyptian private equity firm that has raised $3.7 billion to build an oil refinery, plans to start construction in the second quarter.
Kuwait Energy Plc, one of the fastest growing independent oil and gas exploration and production companies in the Middle East, today announced a new oil discovery in Egypt's Ahmad-1X well, located in the Gulf of Suez's Area A concession.
Despite a deep funds crunch, the premier state public sector undertaking (PSU), Gujarat State Petroleum Corporation (GSPC) will not be dropping its plan to continue with oil and gas exploration in Egypt.
A gasoline shortage in Egypt has led to long queues at fuel stations and raised suspicions among drivers that it may be a prelude to a cut in subsidies, despite official reassurances that there is no plan to hike prices.
Belayim Petroleum Company (Petrobel) witnessed a steady production rate over the last quarter of 2011. The company concluded the year with the drilling of two wells, one exploratory and one development.
Agiba Petroleum Company revealed that its production rates of crude oil and natural gas have been, to some extent, consistent over the previous six months.
Badr Petroleum Company (Bapetco) finished the drilling of two development wells, BED-19-2 and BAHGA-U in the company's Alam El-Shawish West Block, in the Western Desert.
Dana Petroleum plc is pleased to announce first oil production from its Matr-1XST well in the North Zeit Bay production sharing contract (PSC) area onshore in the Gulf of Suez, Egypt. This follows the recent approval of the Matr Development lease by the Ministry of Petroleum.
Sea Dragon Energy Inc. is pleased to announce that it has entered into an arm's length share purchase agreement with Golden Crescent Investments Ltd to acquire all of the issued and outstanding shares of National Petroleum Company Egypt Limited.
Egyptian General Petroleum Corp. said its international oil and natural-gas bidding round closing date was extended by two months until the end of March after potential bidders requested more time for evaluation.
Rashid Petroleum Company (Rashpetco) completed the drilling of a new development well, SIMSAT-B2-DA in the West Delta Deep Marine (WDDM) Concession, in the Mediterranean Sea area.
Dara Petroleum Company (Petrodara), a subsidiary of Transglobe, drilled a new development well, East Arta-23, in the West Gharib Lease, located in the Eastern Desert.
Jordan and Qatar have named a joint committee to study ways to import liquefied natural gas from the Gulf Arab state to replace Egyptian supplies disrupted by pipeline bombings.
TransGlobe Energy Corporation today announces the closing of the West Bakr acquisition in Egypt from The Egyptian Petroleum Development Co. Ltd. (of Japan) that was completed on December 29, 2011.
The Jordanian Minister of Transport Alya Bitayana has demanded that Egypt ensures the safety of a pipeline delivering Egypt gas to Jordan, television channel, Al Arabiya said on Monday.
Egypt's fuel subsidies are expected to reach 114 billion Egyptian pounds ($18.9 billion) in 2012 compared with 100 billion pounds in the previous year, Al Mal reported, cited Hani Dahi, chairman of Egyptian General Petroleum Corp.
Gamesa will deliver 100 of its G80-2.0 MW wind turbines to the New & Renewable Energy Authority (NREA) for a total of 200 MW of wind projects in the Gulf of El-Zayt on Egypt's Red Sea coast.
Tug FAIRMOUNT SHERPA has successfully towed jack-up drilling rig BAHARIA I to her new position in the Zeit Bay oil field in the Gulf of Suez. The FAIRMOUNT SHERPA is one of five supertugs owned by Fairmount Marine.
Egypt's Ministry of Petroleum has confirmed that a natural gas reserve recently discovered off the coast of Cyprus, does not fall within Egyptian territorial waters or its exclusive economic zone.
Khartoum has made a formal request to Egypt to supply Sudan with natural gas, affirming that Cairo pledged to study the request and respond accordingly, according to Minister of Electricity and Dams, Osama Abdullah.
Prime Minister Dr. Kamal El Ganzoury meets on 24/12/2011 with Arab Ministers of Energy and Petroleum participants in the activities of the 85th meeting of the Council of Ministers of the Organization of Arab Petroleum Exporting Countries "OPEC", headed by the Minister of the UAE's oil the current chairman of the Ministerial Council Information Service
Circle Oil Plc, the international oil and gas exploration, development and production company, is pleased to announce the following update regarding the Al Amir SE Field Water Injection project and the Geyad-4 well (formerly Geyad-D) in the Geyad field.
Egypt's North Sinai gas pipeline, which transports gas to Israel and Jordan, was attacked for the 10th time this year, Egyptian Natural Gas Co. Chairman Magdi Tawfik said.
HSBC Bank Egypt announced the closing of a USD50 million financing for IPR Petroleum. The facility will be used to refinance existing credit facilities, as well as the development and production of the company's oil and gas assets in Egypt.
Drake & Scull Water and Power L.L.C (DSWP), secured a AED 142 million Construction Contract of a Mining Grade Ammonium Nitrate Plant in the province of Ain Sukhna in Egypt.
A project that could add 22 percent to Egypt's natural gas supply is one year behind schedule because local residents in the town of Idku, east of Alexandria, continue to oppose British Petroleum's (BP) plans to build a processing plant on the town's seashore.
After analyzing client data from offset wells, the Baker Hughes drill bit team in Egypt developed a case for a trial run of the Hughes Christensen Quantec PDC bit technology, which resulted in savings of $152,000 on two wells, reported Gulf Oil & Gas News.
Khalda Petroleum Company has been on busy drilling schedule during last month as three new wells, one development and two exploratory ones, were drilled in the context of the company's plan for the fiscal year of 2011/2012.
French energy company Total is on the verge of signing a contract with the Egyptian Petrochemicals Holding Company to establish a US$3 billion plant for the production of olefins by steam cracking of natural gas, said a Petroleum Ministry official.
Dana Petroleum plc (''Dana'') is pleased to announce that The Egyptian Ministry of Petroleum has approved ''Petro Kareem'' - a new joint venture between Dana and the Egyptian General Petroleum Corporation.
Agiba Petroleum Company announced the successful drilling of the Meleiha 78 well, in the Meleiha development lease, onshore Shoushan sub-basin, located in the Western Desert.
Petroleum Minister Eng. Abdullah Ghorab stressed the importance of maintaining oil production and attracting more investments as well as signing more agreements to intensify operations of prospecting for oil and gas.
CROSCO Integrated Drilling & Well Services Co., Ltd. is pleased to announce the commencement of drilling services for SIPETROL INTERNATIONAL S.A. Egypt Branch.
German utility RWE has earmarked oil and gas assets in Egypt for sale in a bid to shore up its finances as Germany moves to exit nuclear energy, the Financial Times reported.
Dara Petroleum Company (Petrodara), a subsidiary of TransGlobe drilled new development well Hoshia-14, in the Hoshia North field, onshore the Gulf of Suez Basin.
Canada's Methanex Corp, the world's largest methanol supplier, said it will shut down its plant in Egypt due to political unrest in the country, sending its shares down 2 percent.
The North Bahariya Petroleum Company (Norpetco ) drilled a new exploratory well in the North Bahariya Concession, onshore Abu Gharadiq Basin as part of the company's drilling plan for the fiscal year of 2011/2012.
Balayim Petroleum Company (Petrobel) is heading further with its 2011/2012 plan by the drilling of two development wells and another exploratory one, in Sinai and the Mediterranean areas respectively.
Political instability in Egypt may delay the first crude output from the offshore Northwest October block in the northern Gulf of Suez, a top executive from operator AOC Holdings said.
The acquisition of 3D seismic in the Black Sea offshore Bulgaria has started and Melrose Resources Plc is planning for 2D and 3D seismic surveys offshore Romania.
TransGlobe Energy Corp., Calgary, plans to appraise the Boraq oil and gas discovery and further explore the 558,120-acre South Alamein concession in Egypt's Western Desert after it receives regulatory approval to close the acquisition of a 50% interest from Cepsa Egypt.
Egyptian authorities have installed an early warning system to protect gas pipelines in the Sinai Peninsula after a wave of attacks, dpa quoted an official as saying.
Saboteurs blew up a Sinai pipeline on Thursday, halting gas supplies from Egypt to Israel and Jordan in the sixth such attack since the overthrow of President Hosni Mubarak, Egyptian security sources and witnesses said.
Apache Corp plans to increase investments in its Egypt operations by $1.5 billion starting in 2012, Egypt's General Authority for Free-zones and Investments (GAFI) said.
BP Egypt announced the Salmon gas discovery in the North El Burg Offshore Concession, Nile Delta. Salmon is the third gas discovery BP has made in the concession following Satis-1 and Satis-3 Oligocene deep gas discoveries.
BG Egypt today announced the start of gas production on 17 October 2011 from the Phase 8a Deepwater Development Project. The Project is within the West Delta Deep Marine Concession (BG Group 50%, PETRONAS 50%) located approximately 90 kilometres offshore the Nile Delta.
Beach advises that gas and condensate discoveries have been made at its first two exploration wells, GPZZ-4 and Al Ahmadi-1, in the Abu Sennan concession in the Western Desert.
Following the sabatoge explosion on 27 September in Egypt's Sinai that cut off gas supply to Jordan, it is expected to resume in two weeks. Egyptian authorities informed Jordan's energy minister that gas exports to Jordan might resume in two weeks time, after the pipeline between the two countries is repaired, according to several news sources.
''The final draft for the modified natural gas prices is near completion. The new prices will significantly aid Egypt in securing its needed quota of natural gas,'' answered Eng. Abdallah Ghorab, Egyptian Minister of Petroleum to a question about the price amendments of exported natural gas.
Groundstar Resources is pleased to announce that Aegean Energy Egypt Limited , the Operator of the West Kom Ombo block in Upper Egypt, has commenced a high resolution aeromagnetic survey over the block on October 1, 2011.
Foster Wheeler AG announced that a subsidiary of its Global Engineering and Construction Group has received a contract from Apache Khalda Corporation for the provision of project management consultancy (PMC) services to oversee the front-end engineering design (FEED) for the Qasr Compression Project in Egypt.
Attacks on the Egyptian pipeline delivering natural gas to Israel cost the Jewish state an average of 10 million shekels (US$2.67 million) a day over the summer months, Israel's Ministry of National Infrastructure (MNI) said this week, according to Israel's Globes business daily.
TransGlobe Energy Corporation provided a mid-quarter production and operations update for the West Gharib, West Bakr, East Ghazalat and South Alamein blocks during the third quarter of 2011.
Workers at Arab Petroleum Pipelines Company (SUMED), operator of the Suez to Mediterranean pipeline, have resumed their campaign for equal employment rights after months of calm.
''Egypt is not legally obligated to export gas to Israel, nor is it committed to any financial penalties in case of interruption or discontinuation of gas exports to Israel,'' said Joseph Paritzky, Israel's former Energy and Infrastructure minister.
Rashid Petroleum Company (Rashpetco) completed the drilling of a new development well, Saffron DO, in the West Delta Deep Marine block, in the area of the Mediterranean Sea.
UAE energy firm Dana Gas said on Monday that its overdue receivables from Egypt for the gas delivered there has risen to around $200 million from $180 million previously and added that it was optimistic payments were coming.
Maridive & Oil Services SAE (MOIL), an Egyptian marine and oil support services company, tumbled to the lowest level in more than two years after the price of oil declined.
Apache Corporation reported results from two new wells in Egypt's Western Desert that signal continued drilling success in the Faghur Basin and on concessions acquired in 2010.
Badr El-Din Ptroleum Company (Bapetco) and Khalda Petroleum Company (KPC) drilled recently two new wells in their concession areas in the Western desert.
Turkey intends to cooperate with Egypt in searching for natural gas in the Mediterranean, given the latter's experience in deep-water drilling, Turkish Energy Minister Taner Yıldız says on an official visit to Egypt.
Energean Oil & Gas announces that its subsidiary Aegean Energy Egypt Limited commences the 2nd Exploration Phase of West Kom Ombo Block Concession License ending September 2014..
Egypt is negotiating with Jordan over increasing the price of Egyptian natural gas it exports to the fellow Arab state, an official Egypt's Oil Ministry said on Monday.
Circle Oil Plc, the international oil and gas exploration, development and production company, is pleased to announce the following update regarding the Geyad-5X water injection well drilled to support production in the Geyad Field.
Jordan will sign an agreement with Egypt next month to resume natural gas supplies, the Associated Press reported, quoting Minister of Energy and Mineral Resources Khaled Toukan.
Qarun Petroleum Co., an Egyptian company partly owned by Apache Corp., will drill eight development wells in the Fayum concession southwest of Cairo in the fiscal year ending June 2012, the Oil Ministry said.
Premier Oil is still awaiting ratification from the Egyptian authorities for the award of the South Darag block in the northern Gulf of Suez. The award process is delayed until after Egypt's parliamentary elections, scheduled for later this year.
Private equity firm Citadel Capital won a contract from Iraq's government to build an oil refinery in the country with capacity of 150,000 tonnes per day, the company said on Thursday.
Kuwait Energy Company KSCC, one of the fastest growing independent oil and gas exploration and production companies in the Middle East, announces it has encountered hydrocarbons in the GPZZ-4 and Al Ahmadi-1 wells located in the Abu Sennan concession in the Western Desert, Egypt.
Egypt's Maridive and Oil Services posted a 37 percent increase in first-half profit and analysts said it had secured more construction contracts than in the same period of 2010.
MENA Hydrocarbons Inc. is pleased to announce that it has received co-venturer approval for the acquisition of a 55 percent participating interest in the West Mediterranean, Block 1, Segment A block located 60 km off the Mediterranean coast of Egypt.
Egypt's natural-gas exports to Jordan are due to start within 10 days after repairs on the network that will take at least a week following sabotage yesterday, Energy Minister Khalid Touqan said.
The Egyptian Prime Minister HE Essam Sharaf and Eni CEO Paolo Scaroni met in Cairo confirming the commitment of Eni to Egypt, following the recent agreements.
Shareholders of East Mediterranean Gas Co. will take legal action against Egypt, seeking more than $8 billion in damages for interruptions in natural gas supply through a cross-border pipeline, a company official said.
A short while ago, a huge explosion inside the natural gas inspection station near Al Arish City International Airport rocked the capital of Northern Sinai. The explosion has ignited a huge fire in the pipeline, which Egypt uses to export natural gas to both Israel and Jordan.
Misr Insurance estimated a pay out of LE28 million ($4.75m) to The Egyptian Natural Gas Co for first attack on the gas pipeline, which disrupted flow to Israel and Jordan.
The half dozen or so low-rise buildings that house Apache's Egypt headquarters don't stand out from the Cairo neighborhood. The fleet of SUVs parked under the trees on the narrow residential street are the only clue that dozens of geologists and engineers are working inside.
Natural-gas supplies from Egypt to Jordan will resume by the end of the week, following an explosion at a pipeline in the Sinai peninsula that halted the flow, the Cairo-based newspaper al-Ahram reported, citing Egyptian Oil Minister Abdalla Ghorab.
TransGlobe Energy Corporation announces the signing of a Sale and Purchase Agreement to acquire a 50% operated working interest in the South Alamein Concession in the Arab Republic of Egypt from Cepsa Egypt SA B.V.
The cuts in Egyptian natural-gas deliveries twice this year because of sabotage attacks will cost Jordan a total of $300 million, or 1 percent of gross domestic product, analysts at Citigroup said.
Egypt's Prime Minister Dr. Essam Sharaf met with BG Group Chief Executive Sir Frank Chapman. Also attending the meeting was BG Group Executive Vice President and Managing Director for Africa, Middle East and Asia Sami Iskander and BG Egypt President Arshad Sufi.
OAO Novatek, Russia's second-biggest gas producer, will decide on further exploration at its development in Egypt in September after writing off some wells, Chief Financial Officer Mark Gyetvay said.
Apache Corporation today reported five new oil discoveries in its Faghur Basin play in the far southwest of Egypt's Western Desert oil and gas province.
Circle Oil announced the 2011 update to Ultimate Recoverable Resources (''URR'')1 for the NW Gemsa Concession, Egypt, and the Sebou Permit, Morocco, which indicates a significant increase over the 2010 URR estimates for both permits.
The Egyptian Minister of Petroleum Abdallah Ghorab and Eni COO Claudio Descalzi met in Cairo to support the renewed commitment of Eni towards exploration and development activities in Egypt, highlighting the importance of such commitment for both Egpc and Eni.
Egyptian oil support provider Maridive saw profits grow 19 per cent year-on-year for the first quarter of 2011 but still sparked concern about the company's dip in profitability.
Egypt has resumed its gas supplies to Israel and Jordan after a 45-day gap caused by an attack on a pipeline in the Egyptian side of the Sinai desert, Egyptian officials said.
Kuwait Energy Company (Kuwait Energy), one of the fastest growing independent oil and gas exploration and production companies in the Middle East, announced two new oil discoveries in the East Ras Qattara (ERQ) concession located in Egypt's Western Desert, bringing the company's total number of discoveries in Egypt, since 2008, to 11.
Major oil cartel OPEC may consider increasing output for the first time in 4 years to ease prices and lessen the drag of high energy costs on global economic growth.
The Petroleum Marine Services Company (PMS) is installing offshore platforms and pipelines for the Amal Petroleum Company (Amapetco) and Abu Qir Petroleum Company, with total investments of $31 million and $20 million respectively.
Petroceltic is eyeing oil and gas deals in Egypt and Tunisia to take advantage of a funding gap brought about by unrest in the North African region, said its chief executive.
Egypt is reviewing the timetable for resuming gas exports to Israel and wants to negotiate more flexible contracts with foreign gas buyers, the Egyptian oil minister said.
Russia and Qatar are under growing pressure from Europe's biggest utilities to scrap a 40-year-old system that links natural-gas prices to oil after Brent crude's 23 percent surge this year.
T.D. Williamson SA (TDW) announced that it has completed a subsea hot tap intervention operation to facilitate the successful tie-in of a new gas pipeline to an existing pipeline. The new pipeline forms part of the Burullus Gas Company's West Delta Deep Marine (WDDM) Phase VII development project in the Mediterranean Sea.
Israel has rejected Egypt's plan to reconsider the price of gas and has threatened to resort to international arbitration, an official source in the Petroleum sector told Ahram Online.
Despite weeks of negotiations, Amman and Cairo have yet to reach an agreement on resuming natural gas supplies to Jordan, a senior energy official has said.
King Abdullah of Jordan and Field Marshal Mohamed Tantawi, Chief of Egypt's Ruling Military Council exchanged views to boost bilateral cooperation and other issues of mutual concern between the two countries, in a meeting held in Cairo.
BG Group Plc plans to invest $250 million in drilling three exploratory wells in offshore concessions this year and in 2012, Egypt's Petroleum Ministry said in a faxed statement today, citing a company manager.
Plexus Holdings PLC, the AIM quoted oil and gas engineering services business and owner of the proprietary POS-GRIP friction-grip method of wellhead engineering, has agreed a contract with BG International Limited (Egypt Branch - 'BG Egypt'), a division of BG Group plc, to supply its POS-GRIP High Pressure High Temperature ('HP/HT') wellhead system for exploration activities offshore Egypt on its Notus well.
Egypt's Minister of Petroleum, Abdallah Ghorab, has highlighted a difficulty in the negotiations due to start within days to amend the prices for the country's natural gas exports to Israel.
Circle Oil Plc, the AIM listed international oil and gas exploration, development and production company, announces an update regarding the Geyad-3 appraisal-development well together with details on the future development of the NW Gemsa Concession.
Ukraine's national oil and gas company Naftogaz Ukrayiny plans to produce about 600,000 barrels of crude oil from deposits in Egypt in 2011, Naftogaz said in a statement Wednesday.
Apache Corp plans to explore deeply buried rock formations, including shales, in Egypt's Western Desert for oil and natural gas beginning later this year, the head of the company's Egyptian unit said.
South Africa's PetroSA is selling its stake in the concession area in the Gulf of Suez, as the company decided to withdraw its investments from Egypt, top official told Egypt Oil & Gas.
Khalda Petroleum Company is planning to intensify its E&P operations in its concession areas after the achievement of positive results following the drilling of a development well in the Abu Gharadiq concession.
Petrobel commenced the drilling of an exploratory well in its concession area in the Gulf of Suez, according to the Q4 plan of the fiscal year of 2010-2011.
As an attempt to intensify its E&P operations, the Egyptian Natural Gas Holding Company (Egas) received its new onshore rig Qaher-1 and is expecting the delivery of a second rig Qaher-2 in the coming month.
Though being new in the Egyptian Petroleum sector, the International Drilling Material Manufacturing Co (IDM) for Casing and Tubing, fulfilled requests from top companies, such as Qarun, Agiba, Badr El-Din and the General Petroleum Company to provide drilling equipments over the past three months.
Egypt has a great potential for exporting gas and could increase its production up to 27.66 percent over the next 10 years, said a report by the Business Monitor International (BMI).
Egypt may extend the ban of fuel oil imports beyond June 30 and rely instead on domestic supplies of natural gas for its power stations, an official at the state-run Egyptian General Petroleum Corp. said.
Dana Gas, the Middle East's first and largest regional private sector Natural gas Company has announced its latest gas discovery in the Nile Delta, Egypt.
Jordan's energy minister said on Sunday he has asked Iraq to increase oil supplies to 30,000 barrels a day to meet its needs after Egyptian gas stopped flowing when a Sinai pipeline was attacked.
Apache President and Chief Corporate Officer Roger Plank said that Apache in two weeks will send the last of its employees back into Egypt after evacuating them earlier this year amid the African nation's civil unrest.
Investors have until May 6 to file binding offers for the purchase of shares in Polish telecoms operator Polkomtel. One player that's eagerly waiting for that transaction to be wrapped up is Polish refining giant Orlen.
Egyptian Minister of Electricity and Energy, Dr. Hassan Younis has allocated $ 1.7 billion (EGP 10 billion) to generate an additional 2,680 megawatts of electricity to meet high summer demand.
To complaints that Egypt is losing $ 13 million a day on natural gas exports to Israel, Petroleum Minister Abdallah Ghorab responded: There is no global gas price.
Plexus Holdings PLC, an AIM quoted oil and gas engineering services business and owner of the proprietary POS-GRIP friction-grip method of wellhead engineering, said it has signed a GBP200,000 agreement with BG Egypt.
Egypt's Citadel Capital has postponed plans for the initial public offering (IPO) of its electricity and natural gas distributor Taqa Arabia because of lower valuation prospects, according to a senior executive.
Lebanon's caretaker Prime Minister Saad Hariri will discuss the resumption of natural-gas imports from Egypt during talks in Cairo, according to Mohammad Shatah, his economic adviser.
Gross production from Al Baraka field on the Kom Ombo block in upper Egypt is averaging an estimated 900 b/d of oil, said Sea Dragon Energy Inc., Calgary, cooperator of the concession with Dana Gas Egypt.
The Egyptian General Petroleum Corporation raised its stake in Egyptian Refining Company, upping overall public stake to 49.5 per cent in a new oil refinery, says company's chairman.
An oil tanker carrying 80,000 tons of crude from rebel-held east Libya entered Egypt's Suez Canal on April 9 heading towards the Red Sea, a canal official told Reuters.
Circle Oil announced an update regarding the Al Amir SE-7X water injector well located to the west of the Al Amir SE-4X well in the Al Amir Development Lease. Al Amir SE-7X, which started drilling on 27 November 2010, has been successfully sidetracked and has now reached target depth ("TD") at 15,600 ft measured depth ("MD") in the Lower Rudeis.
The Egyptian Natural Gas Holding Co. (EGAS) signed an agreement allowing it to increase the price of natural gas sold to Union Fenosa SA, to reflect soaring global crude prices, according to an official for the Egyptian company.
Egypt has a great potential for exporting gas and could increase its production up to 27.66 percent over the next 10 years, said a report by the Business Monitor International.
Tanmia Petroleum Company is currently working on expanding its operations in the petroleum services sector, especially in the early production process and also the its constant eager to provide latest rigs for the Egyptian market.
Abu Qir Petroleum Company is currently preparing to finalize the second stage of North Abu Qir-3 field (NAQP_II) in the company acquisition area in the Mediterranean Sea.
Pharaonic Petroleum Company is preparing to drill an exploratory well in its concession area of Port Said during the middle of the current year of 2011, according to the company's drilling plan.
Wadi El Sahl Petroleum Company (WASPETCO) gained the approval of the Egyptian General Petroleum Corporation (EGPC) to go through with its current fiscal plan of the year 2010-2011 in the area of Hurghada.
El Hamra Oil Company decided to reduce its crude oil production rate, which was previously planned for in the production plan of the current fiscal year of 2010-2011, from the company's concession area of the Western Desert.
''Saudi Arabia must stop digging for oil in the Red Sea until impact assessments on marine life have been made,'' diving and environment officials say.
Agiba Petroleum Company is reaching the final phase of drilling four new exploratory wells in the company's concession area in the Western Desert, according to its drilling plan of the fiscal year of 2010-2011.
Gas exports to Israel have not returned to their pre-revolution levels, according to one official, as legal experts scramble to find ways to renegotiate a deal that was agreed under the previous regime.
TransGlobe West Bakr Inc (TGWB), a wholly owned subsidiary of TransGlobe Energy Corporation, has entered into a Sale and Purchase Agreement (SPA) to acquire all the Egyptian assets of The Egyptian Petroleum Development Co. Ltd. (of Japan) (EPEDECO) for $60 million plus or minus adjustments.
Norwegian oil and gas firm Statoil has drilled a dry well in the El Dabaa license in the Mediterranean Sea west of the Nile in Egypt, the firm said on March 28.
Unknown attackers attempted to blow up an Egyptian gas pipeline to Israel and Jordan on March 27, but the explosives failed to detonate, a security official said.
The big news on the horizon at Premier Oil Plc will come out of Egypt.''We continue to look forward to results from the Cherry prospect in 20 to 30 days (4% upside, 0.5% downside),'' says the analyst team.
Caretaker Finance Minister Raya Hassan refuted the claims of caretaker Energy and Water Minister Jibran Bassil that she had refused to pay the bills of Egyptian gas which Lebanon receives.
Jordan and Egypt agreed to strengthen their commercial ties, through turning Jordan into a logistic hub making use of its location, according to Egyptian Cabinet spokesman, Magdi Radi.
Gas deliveries from Egypt to Israel have reached 90% of volumes prior to the cutoff on February 5 and will continue to ramp up this week, said Israeli energy industry sources.
East Mediterranean Gas (EMG), which supplies Egyptian natural gas to Israel and other Middle East countries, does not see any justification for amending the terms of its contract with the Egyptian government to negotiate a higher price, said an EMG stakeholder.
Eng. Abdallah Ghorab, Minister of Petroleum, appointed Eng. Hany Dahy, former Chairman of Enppi, as the Chairman of the Egyptian General Petroleum Corporation (EGPC).
Egyptian natural gas supplies to Jordan reached 200 million cubic feet a day, Egypt's state-run Middle East News Agency reported, citing Jordanian Energy Minister Khalid Touqan.
Egypt will review the price of natural gas exports, Minister of Oil Abdallah Ghorab was quoted by the official Middle East News Agency (MENA) as saying.
Ampal-American Israel Corporation, which holds 12.5 per cent of the East Mediterranean Gas Company (EMG) that owns the pipeline, said the initial supply would be less than normal but would be ramped up 'on a daily basis' to reach the full supply.
The supply of natural gas from Egypt to Israel has resumed after a number of delays, said an Israeli partner in the East Mediterranean Gas (EMG) consortium.
The breakdown in the gas pipeline that extends from Egypt to Israel and Jordan was repaired, and the gas flow was renewed, the Egyptian Gas Company announced. It noted that the commercial gas supply will be renewed in 15 March.
Natural gas supply from Egypt to Israel and neighbouring countries has been halted again due to discovery of a leak, said an Israeli partner in the East Mediterranean Gas (EMG) consortium.
Jordan's natural gas supplies from Egypt are set to resume this weekend, ending a nearly five-week disruption in the country's main source of electricity generation, said a senior energy official.
Natural gas supply from Egypt to Israeli customers is expected to resume on Monday after the pipeline was damaged five weeks ago, an Israeli partner in the East Mediterranean Gas (EMG) consortium said on Sunday.
Egypt's Electricity Minister said the country would go ahead with a tender for the construction of its first nuclear power plant despite recent political unrest, a government Facebook page reported.
Energean provided an update on the drilling of the WKO-3X in the West Kom Ombo Block covering a total area of 31,520 km2 and located in Upper Egypt. The WKO-3X was spud.
AFP quoted a Western diplomat in Jordan as saying that Egypt could already resume the supply of natural to Israel and Jordan, but that Bedouin in the Sinai object to gas deliveries to Israel, which is delaying their resumption.
The Ministry of Petroleum oversees four holding companies that manage all elements of the oil and gas business and form joint ventures with international partners: EGAS, ECHEM, GANOPE, and EGPC.
Yosef Maimon, one of the leading shareholders in East Mediterranean Gas Company (EMG), is the Israeli face of the Egyptian-Israeli venture. Instead of putting all his cards on the table, and explaining to his customers what exactly is going on, or what he thinks is happening, his company, Ampal-American Israel Corporation sends repeated notices to the TASE, quoting EMG as saying that natural gas deliveries will resume within days.
The Israeli Ministry of Environment announced that Egypt's supply of gas to Israel will not be resumed as anticipated following an attack on an oil pipeline in Northern Sinai on 5 February.
Yosef Maiman, part owner of the Egyptian-Israeli natural-gas pipeline, said turmoil in the Middle East won't stop the joint venture's fuel sales from more than doubling to $1 billion by 2014.
Concerns have dominated the petroleum labor yesterday after spreading news that Eng. Abdallah Ghorab, the President of the Egyptian General Petroleum Corporation (EGPC) to move to his previous position at the Ministry.
North Sinai Petroleum Company (NOSPCO) is awaiting the response from the new ministry, led by Eng. Mahmoud Latif, on the workers' demands to appoint the temporary petroleum labor.
PetroAmir is preparing to cooperate with Suez Oil Company (SUCO) to implement a new project to extent the natural gas pipeline produced during the coming period. The procedure is a part of the company's new fiscal plan of the year 2010-2011.
Wadi El Sahl Petroleum Company (WASPETCO) denies any problem with the partner as some newspapers claimed that the company's operations were postponed due to the clashes, said an official to Egypt Oil & Gas Newspaper.
Gemsa Petroleum Company (GEMPETCO) is currently working on reassessing some of the data collected from the 3D seismic survey of some of the company's fields.
El Hamra Oil Company is preparing to drill a new exploratory well in the company's acquisition area in North East El Alamein, located in the Western Desert field.
Eng Mahmoud Latif, the new Egyptian Minister of Petroleum and Mineral Resources, declared a strategy for the coming period in which he stressed on the importance of stability in order to increase production rates, attract more investment to the petroleum sector and increase the national income.
Geneva-based Socar Trading S.A., a trade house founded by the State Oil Company of Azerbaijan, continues considering operations with Egypt attractive despite the recent political events in the latter.
Egyptian gas supplies to East Mediterranean Gas and its clients in Israel are expected to resume by March 4, Ampal-American Israel Corp said on Sunday.
Oil futures are up this morning on concerns that political unrest in Egypt could spread to other oil-producing countries in the Middle East and north Africa.
Oil Refineries Ltd. is exposed to millions of dollars in damages due to delays in the delivery of Egyptian natural gas, which was supposed to begin on March 1. Egypt's East Mediterranean Gas Company (EMG), which had promised to resume deliveries by the end of the month, following an explosion on a pipeline in Sinai, will probably announce another delay.
BGP is conducting a very complex 2D TZ seismic survey in the Red Sea. The complicated terrains include populous city and town, muddy beach, shallow water island, coral reef, offshore ports, and areas near offshore oilfield infrastructure.
Russia's No.2 oil producer, LUKOIL, hasn't decreased oil output in Egypt despite political unrest in the country, the company's head told reporters on Friday.
Protesters throughout the Middle East and northern Africa are pressing their governments for reforms. But the U.S. military is keeping an especially close watch on two countries: Egypt and Bahrain.
Mohamed Ibrahim Tawilla, head of the East Mediterranean Gas Company (EMG), which supplies natural gas from Egypt to Israel, denied rumors that he had resigned from the company.
Egypt's military rulers swore in a new Cabinet on Tuesday. Energy veteran Eng. Mahmoud Latif, formerly known as the head of the Egyptian Natural Gas Holding Company (EGAS), became the new Petroleum Minister.
Canadian oil and gas company TransGlobe Energy Corporation said its proved reserves at the end of last year rose 6%, helped by exploration and appraisal drilling at its leases in West Gharib, Egypt.
Some experts expect that the unrest in the Middle East could lead prices into the crisis zone.
Opinions are mixed on the issue, because even as the price of oil continues to drop, the price at the pump continues to rise, a paradoxical paradigm caused by the chaos in Egypt and other countries in that region.
''I have suffered a severe form of injustice and was dismissed for no apparent reason after my contract ended… We will not rest until we claim our right, they did it in 25th of January and we can do it again,'' these were some of the protesters' chants in their demonstration in front of the Ministry of Petroleum.
Against a backdrop of already rising inflation, the Middle East descends into chaos, sending the oil price surging and tipping the global economy into recession.
Events in Egypt may have taken a more favorable turn, but the underlying fundamentals are still shaky across much of the Maghreb with tensions rising in several countries.
