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2007 ready to grant its fortune of successful attainments to 2008
With 2008 just around the corner, the oil and gas industry makers should first evaluate and assess the achievements attained and goals fulfilled during 2007 before going ahead with their plans for the new year. One of the more obvious features of this year is the tremendous increase in volume of discoveries, investments and profit. Yet, there have been some drawbacks and controversies which have had some negative affects on the sector.
Corruption and the fall of an Empire
With recent high profile cases of corruption emerging in the Egyptian oil and gas industry; the idea of how corruption and its varying symptoms, including a lack of transparency, can effect the growth of this sector is something which undoubtedly needs to be tackled.
Brownfield: Is it Farewell for Now?
The pressing issue of aging fields in Egypt is finally discussed and debated.
On September 9-10, Egypt Oil & Gas held its first independent event entitled “The Brownfield Development and Production Optimization Conference and Exhibition.” The event was in essence a comprehensive sequel to a workshop held the prior year. The workshop’s success encouraged the continuation of, what was seen through the outcome of the workshop as, an increasing significant topic in the oil and gas industry in not just Egypt but world over.
The Present May Be Brown, but the Future is Green
Several operators have taken it upon themselves to rejuvenate the production rates of aging wells across the world and have managed to succeed without a loss of revenue, transforming their stories into leading examples of accomplishment for the world to follow.
The Gulf of Suez: What a Difference a Month Can Do
The Gulf of Suez has played an important role in Egypt’s oil and gas sector over the past few decades; however, more recently the area has witnessed a surge of activities reviving once again the glory of the country’s top oil producing area.
Germany: The “Hidden Champions” of the Global Market
A look at German investment in the Egyptian oil and gas sector reveals a tale of global encouragement for Egypt and untapped opportunities for Germany
Falling Off Hubbert’s Peak: A Tale of Earth, Wind and Fire
Peak oil has become the term of the century. Governments deny it, producers await it, citizens fear it and economists do little to prove or disprove it.
Turning brown into gold, making new out of old
Egypt's domestic oil consumption is increasing while production is declining. In order for Egypt to avoid becoming a net importer of oil within the coming 10-20 years, new discoveries need to be found in addition to optimizing its production from existing aging oil wells. Most of Egypt's existing oil wells are considered brownfields, which are defined as mature oil fields in a state of declining production or reaching the end of their productive lives; they are typically over 30 years old. This feature explores the potential gains of optimzing production from mature wells
The Far East and Near East are Meeting Somewhere in the Middle: an In-Depth Look at the Recent Sino-Egyptian Rig Agreement
On October 16, 2006 Egypt signed an agreement with China whereby the latter would produce three oil rigs for Egypt in 2007, seven in 2008 and 20 a year in 2010. This feature explores the motivation behind the agreement based on recent Chinese relation-building efforts with Egypt and its surrounding neighbors.