The reserve, which has a 95% recovery rate, has one of the highest rates of extraction, and with a total $1bn investment over the next 10 years.
Latest by Mohamed Adel
Energean will gain operations in Egypt, Italy, UK, Croatia and Malta , while Edison will keep its assets in Algeria and Norway
Project begins in Q4 of 2020
The two wells, Zohr 17 and Baltim South West 7, were put into operation with an average production of 390m cubic feet of gas per day (scf/day) and 1,300 barrels of condensate per day.
Decline proves market is not convinced by OPEC cuts, says former petroleum minister, US oil May delivery cratered by as much as -$37 a barrel.
Egypt imports 50% of its diesel and LPG needs, 25% of petrol
Procedures for purchasing Edison fields to be completed in 2020
International bidding interest in Eastern Desert’s gold stores: Source
Misr Petroleum has priced disinfectants as follows: The Misr Gel sanitizer containing 70% alcohols is priced at EGP 45, size 550 ml.
Price wars will destroy small international oil companies, Osama Kamal
Increase in Saudi oil exports leads to excess supply, says Medhat Youssef
The company’s production increased to 49,000 barrels of oil, 20m scf gas
Global trade war and Coronavirus threaten oil markets: former petroleum minister
Government’s review of gas prices encourages re-exploration in old fields, says Shell Egypt
Italian company raises its stake in liquefaction plant to 50%: source
Egyptian member of parliament believe fair gas prices for factories is $3.5-4.5 per million British Thermal units
Shell Egypt’s total natural gas production level is 350m cubic feet per day, says Moataz Darwish
El-Molla signs $8.5bn petrochemical complex project in new El Alamein
El-Molla, Somali counterpart sign bilateral cooperation MoU
According to the agreement, the ECHEM will conduct a detailed feasibility study for this giant project in cooperation with a global consultant. Bechtel will provide the necessary financing from banks and international financial institutions.
On the sidelines of the 2020 Egypt Petroleum Show (EGYPS), El-Molla said Egypt’s call for the establishment of the East Mediterranean Gas Forum aimed at transforming the country into a regional gas centre.
Egypt encourages foreign investments by opening channels for capital transfers, says CBE governor
Oil, gas sector contributes 27% of GDP in FY 2018/19, says El-Molla
Coronavirus outbreak threatens the oil market by falling global demand: Source
Previous price was $2.5/MMBtu, says source
El-Molla reviews crude oil production plans
Company is seeking to expand the search for oil and gas in offshore sites: Source
OPEC expedites its meeting to deal with falling global demand for crude oil
Power plants account for 78% of additional gas consumption: source
Linking Zohr’s full production to national network requires pipelines to operate 70 bar pressure: source