Egyptian Minister of Petroleum Sameh Fahmy said the Egyptian petrochemical industry has quickly ridden out the fallout from the global financial crisis.
Dana Gas of Sharjah has made another gas strike in Egypt's Nile Delta, the latest in a string of discoveries that have already lifted its Egyptian oil and gas output by 20 per cent this year.
Ukrainian Journal reported that Naftogaz Ukrayiny extracted its first 100,000 barrels of crude oil from Gharadig oil deposit at the Alam El-Shawish East block in Egypt.
IPR, and its partner, Sojitz Oil and Gas, have discovered another oil bearing structure in the underlying Alam El Bueib sands in the Yidma-Alamein License in Egypt's Western Desert.
Despite a rise in discoveries of oil and natural gas, authorities in Cairo said they need to pursue nuclear power as their country runs out of fossil fuels.
During the first half of 2010, Melrose continued its active exploration and development work programme on its Egyptian acreage comprising the Mansoura, South East Mansoura and Qantara concessions onshore in the Nile Delta and the frontier Mesaha exploration concession in southern Egypt.
Apache Corporation won the endorsement of the Egyptian General Petroleum Corporation (EGPC) to originate a pipeline with the capacity of 24 inch, from Abu Al Gharadiq to Dahshur 220 km along and $550 million total cost.
Italian Edison entered negotiations with the Egyptian authorities to sell its share of the gas produced from the North Abu Qir field, which Edison won with a Signature Bonus of $1.4 billion.
Citadel Capital Corp. may sell at least one investment by year-end and list one of its oldest energy units by June, the chief financial officer of Egypt’s largest publicly traded private equity firm said.
KBR has been selected by BP to undertake the second stage of concept selection and definition for the onshore terminal and export pipelines for BP's West Nile Delta Development in Egypt.
Univar, a leading global chemical distributor, announced today that Univar Egypt LLC, based in Cairo, Egypt is now fully operational. The new entity includes office and warehouse space and will be headed by Ahmed Fakhr El-Deen.
Petrogulf is awaiting the Egyptian General Petroleum Corporation (EGPC) approval on the drilling plan for the year 2010-2011. The company is planning to drill an exploratory well in its acquisition area in Gebel El Zeit with investments of $9 million.
RWE Dea drilled two new wells in its acquisition area in North Edko, which showed low economical gas reserves and poor quality, as the gas contains more than 8% of CO2.
The Egyptian daily Al-Shaab reports that the Egyptian government, pressed by widespread popular unrest over power shortages caused by an insufficient domestic gas supply to power stations, is mulling the possibility of re-buying approximately 1.5 billion cubic meters of natural gas already supplied to Israel.
Egyptian Petroleum Minister, Eng. Sameh Fahmi said the international successive developments showed how important is the oil refining industry as it is one of the most important strategic industries to secure the needs of the local market of oil products and the export of the surplus.
Apache reported two new oil discoveries and a significant appraisal in the Faghur Basin in the far southwest of Egypt's Western Desert oil and gas province.
UAE-based Dana Gas posted a net profit of 33 million dirhams ($8.98 million) in the second quarter, as its Egypt and Kurdistan operations delivered high output, but the results fell short of analysts estimates.
Some oil companies grow through the drillbit, risking it all on wildcat wells. Not so Apache Corp., which has instead chosen to grow via the pocketbook, for decades grabbing and rehabbing Big Oil's castoffs. Apache's $7 billion purchase of oil and gas fields from BP in July is the biggest the company has ever pulled off. The key to getting first shot at good deals? Make sure the sellers know you're a buyer.
Countries in the MENA region with little or no oil and gas deposits are endowed with abundant sunlight and sparsely occupied land - resources that could make the region a renewable energy powerhouse.
The chief executive of Melrose Resources has said its majority shareholder would be open minded about a bid for the firm, and noted that assets in places like Egypt, where the company operates, are in demand.
North Bahariya Petroleum Company (NORPETCO) is preparing for the second stage of the Water Injection project in the Bahariya layer, to convert two producing fields to work on the Water Injection operation.
North Sinai Petroleum Company (NOSPCO) concluded its installation operations and geological studies, according to the company's schedule for the month of July 2010.
Egypt's proven reserves of oil and gas rose to 18.3 billion barrels equivalent in the year to end-June, and the country expects to boost them to 20 billion over the next two years, said the state news agency.
North Bahariya Petroleum Company (NORPETCO) started on carrying out its agreement with Qarun petroleum company which necessitates working on the facilities of refining the crude oil by receiving and refining 2500 barrels of oil each day.
North Bahariya Petroleum Company (NORPETCO) finalized the drilling operation of "Ferdaus 12" well in the middle and bottom layers of Abu Roash sands, located in the company's acquisition area in Western Desert.
Australian-listed Beach Energy is stepping up its exploration work in Egypt, saying today it plans to spend up to US$33 million in the country's onshore play over the next two years.
Egypt-based private equity firm Citadel Capital said on Monday a company in which it is an investor had secured $2.6 billion in financing for a refinery project in the Cairo area.
Rwe Dea will be investing 3.6 billion US-Dollars in the field development in the North Alexandria and West Mediterranean Deep Water concessions- the biggest single investment for the company to date.
Dana Petroleum announced that the Fin-1X exploration well has discovered a new oil field, in the North Zeit Bay Production Sharing Contract ('PSC') area onshore in the Gulf of Suez, in Egypt. This follows the discovery of the Lorcan oil field, made just last month in the same PSC area.
Abu Qir Petroleum Company is preparing for the treatment of some its exploratory and development wells located its acquisition area in the Mediterranean during the current fiscal year of 2010 - 2011. The total budget of the project is expected to be declared soon.
London-listed explorer Circle Oil said it was currently performing production tests on the Al Amir 1-ST2 well in the onshore North West Gesma concession, Egypt.
BP Plc and RWE AG changed the terms of two natural-gas production contracts in Egypt, ending a requirement that the government invest in developing offshore fields, the companies and Oil Ministry said.
Al Fanar Petroleum is preparing to drill a new exploratory well, NGUP1 filed, in its acquisition area in North July concession during the current fiscal year of 2010-2011 after conducting the needed exploration studies.
Offshore Shukair Oil Company (OSUCO) is planning to drill a new development well in North Shukair field in the company's acquisition area in the Gulf of Suez, according to Moustafa Abdul Aziz, Assistant General Manager of Petroleum Engineering at the company.
Apache Corp has agreed to acquire all of BP's oil and gas operations, acreage and infrastructure in the Permian Basin of West Texas and New Mexico and Egypt's Western Desert.
Abu Qir Petroleum Company initiated its first steps towards the drilling of two new wells, exploratory and development wells in North Abu Qir-10 and Center of Abu Qir respectively.
Egypt Oil & Gas newspaper (EOG) learned that South Dabaa Petroleum Company (DAPETCO) is nearly finalizing its drilling plan for the year 2009-2010, as the company will drill an exploratory well "Zoom SD3" in Al Qattara Depression in its acquisition area in the Western Desert.
Rashid Petroleum Company (Rashpetco) is planning to conduct its development plan for the next year 2011, which includes drilling two new exploratory wells, in addition to a third well in the deep water with approximately depth of 4000 meter, in its acquisition area of West Delta.
Rashid Petroleum Company (Rashpetco) prepares for carrying out the "Hot Tap" operation, which is a unique operation that is considered to be the first of its kind to be accomplished in Egypt with Technip, the multinational company.
Egypt and Saudi state oil giant Aramco plan to launch an oil spill containment exercise in an Alexandria port in November, according to an Egyptian official.
Technip has been awarded a lump sum engineering, procurement, installation and construction (EPIC) contract by Burullus Gas Company SAE(1) for the West Delta Deep Marine (WDDM) Phase VIIIa development project.
The Egyptian General Petroleum Corporation (EGPC) has reissued a tender to sell up to 50% of the naphtha cargoes left over from its H2 2010 term cycle, according to trade sources.
BG Group's Egyptian subsidiary announced it would invest $2 billion to install a pipeline and drill new wells off Egypt's Mediterranean coast to help meet the country's growing demand for gas.
Eng. Sameh Fahmy, the Egyptian petroleum Minister, issued his orders to bring some movements to the head of Tharwa Petroleum Company and some other companies. Geologist Abu Bakr Ibrahim will head Tharwa Petroleum Company, instead of Eng. Atef Abdel-Sadeq, who became the head of the Mineral Resources department in the Ministry of Petroleum.
Citadel Capital, the leading private equity firm in the Middle East and Africa with $8.3bn in investments under control, announced today the International Finance Corporation (IFC) is investing $120m in the Egyptian Refining Company (ERC).
The Egyptian Oil Ministry said crude oil that washed ashore at a major Red Sea beach resort area was leaked by a passing tanker or may have seeped from the ground due to a heat wave, but was not from any of its rigs.
An oil spill off the Egyptian Red Sea coast of Hurghada threatening to damage marine life in the area has prompted environmental agencies to demand tighter regulation of offshore oil platforms.
It's as though oil drilling has reached a holding pattern off the Red Sea coast of Egypt as the media, investors, drilling companies, governments and NGOs work to establish or even decide on the cause of the oil spill off the coast of Egypt’s Red Sea last week.
Egypt Oil & Gas newspaper (EOG) learned that Qarun Petroleum Company (QPC) is in the process of drilling three new wells by the end of this year, in the two fields "Gharibon" and " Sohba" located in its acquisition area in the Eastern Desert. The total estimated investment of three wells expected to reach $13 million, after conducting the needed 3D seismic survey.
Apache Corporation announced that new production from its Faghur Basin fields has propelled its Egyptian gross-operated oil and gas production above 330,000 barrels of oil equivalent (boe) per day, surpassing the company's late-2005 goal of doubling output from Egypt's Western Desert within five years.
Sea Dragon Energy Inc., the international exploration and development company that focuses on missions in the Middle East, recently provided update on its drilling operations in Egypt.
Egypt Oil & Gas learned that Gebel El Zeit Petroleum Company (Petrozeit) will issue a bid for hiring a rig in order to accomplish its new drilling plan next year, in the field of Ras El Ush within the company’s concession area in Gebel El Zeit in the Gulf of Suez.
Aegean Energy and Groundstar Resources carried out a technical review of the seismic data over the West Kom Ombo Block to extensively evaluate the potential of the 31,500 square kilometer Block, seismic data acquisitions will take place in the current exploration phase until September 16th of 2011.
Egypt Oil & Gas knew about a deal finalized between the Egyptian Drilling Company (EDC) and the Egyptian-Chinese Petroleum Co for Manufacturing Drilling Rigs.
Egypt Oil & Gas learned that TransGlobe Energy Corporation is about to issue a bid round to hire a drilling 1500hp rig. The International oil and gas explorer will use the rig in drilling within its concession area in El-Nokkra in order to accomplish its drilling plan.
Egypt Oil & Gas learned that Esh El Mallaha Petroleum Company (Eshpetco) asked the Egyptian General Petroleum Corporation (EGPC) for lending it a rig from one of the other sister companies which is close to its concession area or even through issuing a bid round.
Coordination is underway between Petzed and Enap Sipetrol to hire a drilling rig in their side-by-side concession areas located in El Romana in North Sinai. The shared rig will be 1500hp.
Egypt Oil and Gas newspaper (EOG) learned that PetroShahd Company submitted its production plan of crude oil for the fiscal year 2010-2011, in its acquisition area in the Western Desert. It also aims to boost its crude oil output of 6000 barrels.
Zafrana Oil Co. is planning to attach two new exploratory wells to the drilling plan in its acquisition area of Rodis in the North of Gulf of Suez and another development well.
GEMSA Petroleum Company (GEMPETCO) is studying the possibility of renting a new rig to start initiating its drilling plan for this year in the Gemsa oilfield in its acquisition area in the Gulf of Suez.
Operator Vegas Oil & Gas announced that oil was recovered on test from Safwa NW-1, its latest exploration well in the East Ghazalat concession in the Eastern Desert of Egypt. Wireline logs across the Lower Bahariya Formation confirmed approximately 30ft of net producible oil-bearing reservoir with an average porosity exceeding 20 per cent.
Circle Oil Plc, the international oil and gas exploration, development and production company, announced that the Al-Amir SE-6X down-dip flank appraisal well has completed coring and logging the oil-bearing Upper Shagar and Lower Rahmi Kareem Sandstones and has now reached a target depth of 13,900ft in the Lower Rudeis.
Apache Corporation reported that its second discovery of the year in Egypt's Matruh Basin - the Samaa-1X - tested 44 million cubic feet (MMcf) of natural gas and 2,910 barrels of condensate per day from two zones.
Kenyan Prime Minister Raila Amollo Odinga, accompanied by Minister of Petroleum Sameh Fahmy, visited a centre for compressed natural gas conversion and fuelling of cars.
Due to the fact that Egypt's Nile Delta is one of the most important area in the world that holds rich natural gas reserves, the Egyptian Oil Ministry cited a report issued by the American Geological Association on May 18, saying that Egypt's Nile Delta (north of Cairo) holds undiscovered natural gas estimated with 223 trillion cubic feet (about 6.3 trillion cubic meters).
Enel, represented by Massimo Sciancalepore, Head of Business Development, Upstream Gas Division, and the Ministry of Petroleum of Egypt, represented by H.E. Ashraf Rashed, Ambassador of Egypt in Rome, signed a cooperation agreement aimed at strengthening the long-standing strategic relationship between Enel and the Egyptian Natural Gas Holding Company (EGAS), dating back to 2008.
''We are preparing to drill three exploratory wells and another for development in Gebel El Zeit, with estimate investments of $25 million,'' AlShenawy Badr, Drilling Operation Manager at Petrogulf Misr, told Egypt Oil & Gas newspaper (EOG
"The government aims a stimulating BP into more drilling and exploration activities", Dr. Ramadan Abul Ella, Head of Petroleum Department at Suez Canal University told Al Youm Al Sabea newspaper, commenting on the Ministry's new agreement with BP.
''The Egyptian service companies' total volume of investments reached up to $7.4 billion, thanks to recent contracts signed to hold operations in 14 different countries,'' announced Eng. Sameh Fahmy, the Egyptian Minister of Petroleum.
The traffic of oil and gas tankers passing through the Suez Canal in April have dropped, compared to the previous number recorded in March, said officials at the Suez Canal Authority.
Aegean Energy, the only operator of Oil and Gas in Greece; after obtaining its first international exploration license in Egypt in December 2009 (East Magawish Block in the Gulf of Suez); is pleased to announce a farm in agreement with Groundstar Resources Egypt (Barbados) Limited for a 70% working interest and operatorship of the West Kom Ombo (WKO) Block, located in South Central Dessert of Upper Egypt approximately 100km west of Aswan.
Eng Sameh Fahmy, the Minister of Petroleum, announced that the ministry is doing its best to give the support to the Egyptian companies in conduct projects outside Egypt.
"We are preparing to implement our drilling plan in the deep water in the Mediterranean," said Eng. Taher Abdu Al Rihim, Operation Manager in Rashid Petroleum Company (Rashpetco).
North Sinai Co. For Petroleum said that it's preparing to implement the second phase of the new drilling plan in the middle of this year and to finalize it by the end of 2016.
Sea Dragon Energy Inc. announced that it has now paid Dana Gas Egypt Ltd. the sum of US$28.48 million for its purchase of a fifty (50%) percent participating interest in the Kom Ombo (Block-2) Concession, located approximately 1,000 km south of Cairo on the West Bank of the Nile River (the "Kom Ombo Concession").
Egypt announced that it's planning to build an oil refinery with Chinese investment estimated by $2 billion to supply the domestic market as well as export to China, according to the Egyptian Ministry of Petroleum's release to state news agency Mena.
The Kuwait Energy Company announced a new discovery in Ras Qattarah block in the Egyptian Western desert. The find is considered the seventh for the company.
The Arabian Oil Company (AOC) is currently testing the productivity of the Northwest October-2 (NWO-2) well in the northern Gulf of Suez. The primal results indicate promising figures of oil and gas, which confirms the reserves estimated earlier at the Northwest October-1 (NWO-1) well.
The Egyptian Drilling Company (EDC) bought a brand new offshore rig, which is one of the latest offshore rigs in the drilling market. EDC said it will use this rig to begin working and developing in Qatar early next month.
INA - Industrija nafte, the national oil company of Croatia, is preparing to drill two new wells in its acquisition area in Western Desert. The drilling will be 5000 meters depth after the company updated its geological research and reached new data that will help in operations.
Egypt Oil & Gas newspaper (EOG) learned that North Sinai Co. For Petroleum - Nospco investments in the Mediterranean reached $ 400 million after drilling four wells Tao-1, 2, 3 and 4. The four wells are producing 180 million cubic feet of gas since the developing operations ended.
North Sinai Co. For Petroleum - Nospco is in the second stage of development process of the North Sinai fields to maintain its gas production at a level of 180 million cubic feet.
The Fields Development Company (FDC) bought Mubarak-4 rig from the Egyptian-Chinese Company for Manufacturing Onshore Oil Rigs. Mubarak-4 was sold for $12.5 million, and said EOG learnt that it will be used in drilling Badr El Din Petroleum Company's wells (BAPETCO), which is a joint venture company between Egyptian General Petroleum Corporation (EGPC) and Shell.
Hill International, the global leader in managing construction risk, announced that an affiliate company, Hill International Petrol Egypt, E.S.C. (Hill Petrol), has entered into a contract with the Egyptian Natural Gas Holding Company (EGAS) to provide project management services for a new $200 million natural gas compression station in Dahshur, Egypt.
Eng. Sameh Fahmy, the Egyptian minister of Petroleum, issued his orders to bring some movements to the head of General Petroleum Company (GPC) and some other companies. Eng. Sherif Sousa was promoted to be the chairman of the GPC instead of Eng. Reda Moustafa.
The West Delta Deep Marine (WDDM) & Rosetta concessions, offshore Nile Delta, have seen prolific exploration and development projects since the Mid 1990's. a significant proportion of Egypt's domestic gas supply is produced from these concessions, operated by Rashpetco/Burullus on behalf of the partners EGAS, BG, Petronas and Edison.
Burullus Gas Company said that the Sapphire field in the West Delta Deep Marine concession (WDDM) has been on production since 2005 and has entered a new phase of development. The WDDM Phase 8A drilling development campaign has already delivered three successful satellite wells, and two further wells will be drilled in the main field area and tied back during 2010 and 2011.
Al Hamra Oil company resumed its drilling activities in its acquisition areas of "Ydma" and "El Alamein", after holding its work last year due to the global recession.
Hess is preparing to successfully end all the bids' procedures necessary for drilling its first exploratory wells in its Red Sea acquisition area. The bids include a bid for leasing an offshore rig with an estimated cost by nearly $400,000.
Khalda Petroleum Company is continuously drilling the effective exploratory wells in its acquisition area in West Kalabsha Concession. Moreover, Egypt Oil & Gas knew that the company has successfully completed drilling and examining the exploratory Phiops-6 field which produces a rate of 5500 barrel of oil per day.
Schlumberger Wireline organized their New Technology seminar for 2010 in the Fairmont Towers Hotel - Heliopolis, last month. The yearly-event, prepared by the Paris headquarters and the Wireline team in Egypt, is held to introduce Schlumberger's latest technologies related to electrical wireline logging with cases studies from the region and worldwide.
Naftogaz is planning to rent a third rig for its concession area of Abo Senan field, located in the Western Desert, in addition to speeding up placing the wells on the production line, according to the company's drilling plan for this year.
Dana Petroleum (Egypt) is seeking partner(s) to farm-in to the Ras Abu Darag Block, Egypt, to join them in their 2010/11 exploration drilling program in the Ras Abu Darag Concession, situated in the northern offshore part of the Gulf of Suez. This lies immediately on-trend and north of the proven producing part of the Gulf.
Aegean Energy, the only operator of Oil & Gas in Greece, announced the Farming‐in of its first international exploration license in the Gulf of Suez in Egypt.
AGIBA Petroleum Company said that it's planning to drill a new exploratory well, Arcada-1x, located in its acquisition area " Melehia Field" in the Western Desert. The initial stages of the drilling is expected to start within this month, and the volume of production will be announced later after the evaluation period to estimate the reserves of the well.
Egypt's Maridive and Oil Services approved a dividend of one bonus share for every five held, a move that will boost its capital 20 percent to finance expansion, officials said on Monday.
The Egyptian Petroleum Ministry entered intensive negotiations with BP to reach an agreement to amend the price of gas in the North Alexandria concession, for the second time in three years, in order to speed up the process of pumping up investments estimated by $8.5 billion to develop the field.
Sea Dragon Energy provided this year's work program and budget for both NW Gemsa and Kom Ombo concessions, and considering 11 new projects with Tanmia Petroleum Company.
Sea Dragon Energy Inc. announced that it has entered into an agreement with a syndicate of underwriters, co-led by GMP Securities L.P. and Thomas Weisel Partners Canada Inc. and including Genuity Capital Markets, FirstEnergy Capital Corp. and Maison Placements Canada Inc.
Apache Corporation announced the West Kalabsha I-1X discovery in the Faghur Basin of Egypt's Western desert. The well, located approximately 10 miles southwest of Apache's Phiops Field, test-flowed at a rate of 4,554 barrels of oil and 10.1 million cubic feet (MMcf) of natural gas per day from 105 feet of net pay in the Jurassic Safa formation.
Circle Oil Plc, the international oil and gas exploration, development and production company, is pleased to announce that the Al-Amir SE-5 appraisal well has been successfully connected and has commenced production in the Al-Amir Development Lease in the onshore North West Gemsa Concession in Egypt.
General Petroleum Company (GPC) decided to extend both contracts of "Amer" and "Bakr" oilfields, located in its acquisition area in Ras Gharib, one of the leading centers of petroleum production in Egypt, in the Red Sea. Earlier, GPC said it would offer both fields to foreign partners.
Egypt Oil & Gas learned that South Dabaa Petroleum Company is on the verge of announcing the implantation of a new gas station in Al Qattara Depression, with an estimated cost by $35 million.
The African Development Bank (AfDB) Group has approved a USD 200-million senior loan and a US$ 25-million Subordinated Convertible Loan to the Egyptian Refining Company (ERC). In addition, the Bank will if requested by the Borrower consider providing a B-loan of up to USD 80 million.
GL Noble Denton Egypt held its first technical Seminar on the 15th of March at JW Marriot Cairo, on the occasion of the new merge. As from January 2010, GL Industrial services and Noble Denton have emerged to one company with trading name GL Noble Denton.
The Egyptian private owned company, Citadel Capital will be raising $2.25 billion for an oil refinery, according to the company's Managing Director, Ahmed El Houssieny.
Egypt Oil & Gas learned that Petrozeit Petroleum Company is planning to drill for a new exploratory well in its acquisition area in Gebel El Zeit. Drilling will start during this year.
The state news agency MENA reported that Egypt is set to secure a $430 million loan from Japan to fund a 220-megawatt wind farm as it tries to boost its renewable energy output.
The Sixth International conference "People and Banks 2010" will be held in Egypt in April, Under the supervision of Dr. Farouk El Okda, Governor of the Central Bank of Egypt.
Egypt's energy services provider Taqa Arabia is considering eight natural gas and power generation projects and plans a public offering on the stock market after it secures one of these projects, Al Bayan daily reports citing a company official.
The Egyptian General Petroleum Corporation (EGPC) announced that it inked a 2 billion Egyptian pounds loan with 17 public and private banks, aiming to fund its own ongoing operations.
Sea Dragon Energy Inc. is pleased to announce that the Al-Amir SE-5 appraisal well has been successfully drilled and production tested in the Al-Amir Development Lease in the onshore North West Gemsa Concession in Egypt.
Sea Dragon Energy Inc. is pleased to announce it has entered into an Alliance Agreement with Tanmia Petroleum Company (TPC), an company incorporated in Egypt and owned one hundred percent by the Egyptian General Petroleum Corporation (EGPC).
Eng. Sameh Fahmy, the minister of petroleum, stressed on the importance of the continuous work to increase the financial profit from oil resources industry, and he encouraged the Egyptian companies to invest more in the search and exploration for oil and gas
Kuwait Energy announced that it discovered a new oilfield in the Egyptian western desert, Borg El Arab field is considered the company's fifth consecutive discovery since last year.
Dana Gas PJSC, the Middle East's first and largest regional private sector natural gas company, has announced two gas discoveries in the Nile Delta, Egypt .
Banks alliances, which submitted offers to win the Egyptian General Petroleum Corporation's bid for the $ 2 billion loan, said it will soon announce the winning coalition during this month, according to a source close to the banks.
Egypt Oil and Gas (EOG) knew that there will be another movement of promotions within the Egyptian Petroleum sector in the coming week. The movement will witness interchanges for figures inside the domestic petroleum sector as well as promotions for others.
"Egypt's oil and gas sector is full of many promising investment opportunities, which is one of the most important factors for attracting international companies," said the Egyptian Minister of Petroleum, Eng. Sameh Fahmy.
The Egyptian government told Union Fenosa, the Spanish-Italian company involved in the liquefaction of natural gas, to consider importing gas from abroad to meet the needs of the Damietta liquefaction unit located on the Egyptian Mediterranean coast, after the company suffered from a set back in its supplies from the gas national network during the first half of the fiscal year 2009/2010.
Strong reports indicate that Maridive is searching for investment opportunities in the West African regions and targeting increasing its business volume in North Africa as it offered new marine unit for rent in Libya for the coming two years.
The Higher Administrative Court gave the Egyptian government legal clearance to allow natural gas exports to Israel yesterday, cancelling a lower court's previous verdict to stop exports.
DANA PETROLEUM PLC spudded the Bamboo well (Dana 50%) in the West El Burullus concession, offshore Nile Delta, Egypt on 19th February 2010. This drilling follows on from the recent success at Papyrus, which was the second gas field discovered in this concession by Dana and its partner Gaz de France with their first two wells.
Dominic Asquith, Britain's ambassador in Cairo, said that his country's investments in Egypt are estimated over than $20 billion, flowing into the Egyptian market through British companies operating in the energy sector such as BG and Shell.
Melrose Resources stated today that it met its production expectations for 2009, driven by the successful fast-track expansion of recent Egyptian discoveries.
Fields Development Company (FDC) will start operating in the HG34-3 well of the Ukrainian Company Naftogaz. FDC will provide the needed services to set the well on the early production system, it will also supply the block with "Site preparation for Early Production Facilities and The Early Production provision."
The Ministry of petroleum witnessed shocking movements yesterday. Eng. Abdllah Ghorab was promoted as the president of the Egyptian General Petroleum Corporation (EGPC) instead of Eng. Abdel Aleem Taha.
Apache Corporation announced that Egypt's Ministry of Petroleum has finalized extension of the Khalda Offset and East Bahariya concessions in the Western Desert. The extensions will permit Apache to continue its exploration program across approximately 1.5 million acres.
Beach Petroleum Limited, an oil and gas exploration and production company, announced that its project partner BP confirmed a gross oil-bearing column of 107 meters in the North Shadwan 377-5 well on the Gulf of Suez in Egypt.
The Egyptian Natural Gas Holding Company (EGAS) announced the results of its licensing round for gas-prone Mediterranean offshore acreage which is considered a sign of the growing interest in Egypt’s upstream potential.
Eng. Sameh Fahmy, the minister of petroleum announced that the government will increase investments in oil exploration in the next ten years to reach up to $ 25 billion, in addition to attracting more foreign investments to the local market.
AOC, Japan's Arabian Oil Company, announced its second delay for crude oil production from Egypt's offshore Northwest October block in the northern Gulf of Suez.
Managing Director of Egypt's Maridive & Oil Services, Issa Eleish announced that the company is planning to spend $200 million to expand its fleet of vessels and take advantage of the rise in oilfield services demand.
Sea Dragon Energy Inc. is pleased to announce that its current working interest share of production from the N.W. Gemsa and Kom Ombo Concessions has now reached 1,475 bopd.
Melrose Resources plc, the oil and gas exploration and production company, is pleased to announce a new exploration discovery and commencement of seismic data acquisition in Egypt.
Circle Oil has announced that theGeyad-2X ST1 well has commenced production in the onshore NW Gemsa Concession. Production has started from the upper of the two identified pay zones in the Kareem Shagar Sandstone. The lower untested pay zone, in the Kareem Rahmi Sandstone, will be further evaluated at a later date.
Abd El Alim Taha, chief executive of the Egyptian General Petroleum Corporation (EGPC), said that EGPC will announce the results for its latest oil and gas bid round within the coming two months.
Minister of Petroleum, Eng. Sameh Fahmy signed today two agreements between the state-owned Egyptian General Petroleum Corporation (EGPC) and Apache Corporation for exploring in the Western Desert.
Dana Petroleum plc, the independent oil and gas exploration and production company focused on growth through international exploration and the development of production in the North Sea and Egypt, is pleased to provide the following operational update and outlook.
The minister of Petroleum, Eng. Sameh Fahmy declared that the petroleum sector will provide all the support to the educational system, focusing on divisions that will improve the level of oil production in Egypt.
Spectraseis, the leading provider of low frequency seismic solutions to the upstream oil & gas industry, today announced the completion of a Low Frequency (LF) seismic survey for Shell Egypt N.V in the North East Abu Gharadig (NEAG) Basin, Western Desert, Egypt.
Groundstar Resources is pleased to announce that the company has entered into an asset exchange agreement with Karl Thomson Energy Limited (KTE), its partner in its two Egyptian blocks.
Eng. Mahmoud Latif, Chairman of the Egyptian Natural Gas Holding Company (EGAS) announced that the company received four offers from international companies from Russia, Germany, Ukraine and the U.S.A to carry out projects to deliver natural gas to Upper Egypt.
The minister of Petroleum, Eng. Sameh Fahmy declared that the petroleum sector will provide all the support to the educational system, focusing on divisions that will improve the level of oil production in Egypt.
Sea Dragon Energy Inc completed the acquisition of all of the issued and outstanding shares of Premier Oil Egypt of Al Amir field in NW Gemsa Concession.
Egypt is considering the import of natural gas from Iraq through the pipeline that the country currently uses to export its own natural gas to Jordan, Lebanon and Syria, known as the Arab pipeline, the Daily News Egypt reported.
The Egyptian Minister of Petroleum, Eng. Sameh Fahmy denied rumors around the government's intention to import gas from any country, pointing out that any investment proposals with effective cost to support the Egyptian national security will be issued by specialties in the petroleum sector.
Egyptian General Petroleum Corporation (EGPC) is looking to secure a $2 billion; 58-month debt financing that will be used for export funding, bankers close to the deal reported.
UK oil explorer Premier Oil said it expects oil and gas production to be flat in 2010, compared to 2009, after a big achievement lifted 2009 output by 21 percent.
Sea Dragon Energy Inc. announces that its wholly owned subsidiary, Sea Dragon Energy (Kom Ombo) Ltd. has signed a Farm-out Agreement with Dana Gas Egypt Ltd.
Shell Egypt received ministerial approval to effect agreements signed with Vegas Oil & Gas and GDF SUEZ to acquire a 20% interest from each in the Alam El Shawish West Concession, in the Western Desert area.
Apache Corporation reported that its WKAL-A-2X discovery tested 5,085 barrels of oil and 130 thousand cubic feet (Mcf) of gas per day - the fourth successful exploration test in West Kalabsha Concession and the company's sixth discovery in the Faghur Basin play in Egypt's far Western Desert near the Libyan border.
Dana Gas, the Middle East's first and largest regional private sector natural gas company, is pleased to announce the Al Baraka-4 well, drilled as an appraisal of the Al Baraka Field in the Komombo Concession in southern Egypt
Egypt's petroleum products subsidy bill will reach 66 billion Egyptian pounds ($12.1 billion) by the end of the fiscal year 2009/10, the state news agency MENA said on Tuesday.
The Minister of Petroleum, Eng. Sameh Fahmy issued his directions to speed up the delivery of natural gas to households, adding that this year's plan includes 600 thousand households
Eng. Sherif Ismail, Chairman of Ganoub El Wadi Petroleum Holding Company (Ganope) revealed the establishment of a new investment company for oil refining in Upper Egypt.
The oil sector is attaching increasing importance to scientific research in order to develop the oil, gas and petrochemical industries in Egypt, said the Egyptian Petroleum Minister Eng. Sameh Fahmy.
Hany Soliman, President and chairman of the board of the Egyptian Petrochemicals Holding Company (Echem), announced that preparation are taking place for the inauguration of methanol production complex in Damietta, with investments reaching up to $950 million.
South Malak-1 in the West esh el Mellaha-2 concession in Egypt reached a revised total depth of 11,200 feet (3,415 meters) on 21st October 2009, reported Aminex PLC.
Dana Gas PJSC, the Middle East's first and largest regional private sector natural gas company, has announced that it has successfully achieved its end of year production target for Egypt operations
The Egyptian Minister of Petroleum Eng. Sameh Fahmy announced that Egypt is expected to have 520 exploratory and development wells for oil and 36 for natural gas to be drilled in 2010.
Interpipe in cooperation with the ARTOC Company, a partner of Interpipe in Egypt, together held a business meeting with potential customers in Cairo, last month, which is an attempt to strengthen its presence in the Egyptian market.
Iran has dismissed France's Total from investing in development of phase 11 of the country's South Pars gas field, state television reported. "Total has been dismissed from investing in the project to develop the phase 11," Hojjatollah Ghanimifard, deputy head of National Iranian Oil Co., told state television. A Total spokeswoman in Paris declined to comment.
U.S Apache Corporation Chairman and Chief Executive Officer, Steven Farris praised the ''fruitful mutual cooperation'' between the company and the Egyptian petroleum sector, which has contributed to the company's successes in Egypt, especially in the Western Desert.
Dana Petroleum, the independent oil and gas exploration and production company focused on growth through international exploration and the development of production in the North Sea and Egypt, has confirmed that it is currently drilling the Papyrus exploration well, on the West El Burullus concession, (Dana 50%) offshore Nile Delta, Egypt, targeting gas at a similar horizon to the West El Burullus-1 discovery made in 2008.
Oil Minister Sameh Fahmi signed Sunday 8/11/2009 two oil agreements on behalf of two Egyptian petroleum and natural gas companies with two UAE and British oil firms with minimum investment values worth $330.5 million.
Beach Petroleum Limited ("Beach") is pleased to advise the NS377-3 oil development well (North Shadwan Development Lease, Gulf of Suez, Egypt, Beach 20%) has reached its total depth of 2,873 metres MD (1,800 metres TVD RT) after intersecting a gross oil column of 144 metres in the Kareem Formation sandstone of Miocene age.
Egyptian LNG was awarded one of the five winners of the 2009 DuPont Safety Awards.
This year eighth edition’s award recognizes companies and organizations that have undertaken outstanding initiatives towards workplace safety enhancements and accident prevention in the region of Europe, Middle East and Africa (Emea).
Melrose Resources plc, the oil and gas exploration, development and production company provides an update on its operational activities in Egypt. Development activity on Melrose's fields in the Nile Delta has continued and the Company is pleased to announce that the South Khilala field, which contains estimated reserves of 36 Bcf, was successfully brought on stream on 16 October 2009.
Egypt's state-owned Egyptian Natural Gas Holding Co. (EGAS) has shelved plans for the construction of a second LNG train at Damietta until enough natural gas reserves are found, according to a company official.
Three foreign companies are negotiating with the Ministry of Petroleum plans to develop oilfields in the Red Sea over the next three years at expected investments worth 90 billion Egyptian pounds.
BP and Eni SpA have found 2 trillion cubic feet of gas, half of what is needed to start up a new liquefied natural gas train, an executive of State-owned Egyptian Natural Gas Holding Company (EGAS) said.
Aminex announced that the South Malak -1 well in the West Esh El Mellaha PSC area, onshore Gulf of Suez, Egypt, has now been drilled to a total depth of 11,200 feet. Oil shows were encountered in Pre-Miocene Matulla sand stringers from 10,858 to 10,900 feet and high gas readings were encountered from 10,300 feet through to total depth. The well has now been logged from the base of the last cased section, at 2,725 feet, down to total depth.
Circle Oil reported that the Al-Amir SE-4X appraisal well has been successfully drilled and tested in the onshore North West Gemsa Development Lease in Egypt.
PGNiG opened its branch in Cairo, Egypt, on October 14, 2009. This is directly related to the Company's plans and activities in this country. In Egypt, PGNiG SA will focus on primarily exploration for and subsequently the production of crude oil. The reserves of this raw material under the license awarded to the Polish company are estimated at 22 million tonnes.
Dana Gas, the Middle East's first and largest regional private sector natural gas company, has announced two more significant gas discoveries -- Faraskur-1 and Marzouk-2 -- in one of its concessions in the Egyptian Nile Delta. Together, the two wells are expected to add 86 billion cubic feet (bcf) of gas to the company's Egypt reserves.
Egypt is receiving two loans worth a combined EUR120m from the European Investment Bank to develop renewable energy and water projects. The first loan of EUR50m (USD72.7m) will support the development of the Gabal el Zait offshore wind farm
In the session held Oct. 7, chaired by Jordan's Prime Minister Nadir al-Dhahabi, the Council of Ministers approved the partnership agreements between the National Petroleum Company (NPC) and the British company British Petroleum (BP) for the concession of the Al-Rishah gas field, including the agreements for amending the concession, execution, share remittance, and operation.
An overview of the energy mix and how it will evolve mid-century, given the impacts of factors like population growth and economic prosperity, was the main issue discussed in the Future Energy Scenario forum hosted by Shell Egypt under the auspices of the Minister of Petroleum Eng. Sameh Fahmy, and in collaboration with the Egyptian Petroleum Association (EPA).
The Middle East can look forward to solid growth this year and next, but a fall in crude prices could undermine prospects for oil exporters and importers alike, the IMF warned on Thursday.
Beach Petroleum provides an operational update on its drilling Egypt. In the Gulf of Suez’s North Shadwan Concession, The NS 394-3 [Burtocal North] oil exploration well (Beach 20%) is drilling ahead at a depth of 2117 metres in the South Gharib Formation. The primary reservoir target is the Nubia Formation.
Egypt will decrease subsidies on natural gas and electricity to non-energy intensive industries, the local press reported, raising prices 26 percent by the beginning of 2010, announced Amr Assal, chairman of the Industrial Development Authority.
