In February, the results of the geophysical data analysis in the Red Sea, carried out by Schlumberger in cooperation with Ganope, pointed out that there is a 70% chance for new natural gas discoveries.
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Incentives in new oil agreements to encourage partners, according to industry sources
Importance of providing necessary data to start exploration activity in region, allow international companies to better assess opportunities, prospects of oil, gas reserves
The Ministry of Petroleum and Mineral Resources intends to put forward a global bid to explore the oil resources of the Red Sea in the first quarter of 2018, in light of the results of 2D and 3D seismic surveys currently being conducted in the Red Sea. According to ministry sources, companies currently conducting surveys …
The Ministry of Petroleum aims to increase oil production to reduce reliance on imports
The deals include investment of about $81.4m
Egypt intends to import 80 shipments of LNG in 2017-2018, says Minister of Petroleum