- Crude Oil (WTI) 101.52 USD/bbl 0.33%
- Crude Oil (Brent) 114.10 USD/bbl -0.52%
- NYMEX Natural Gas 3.03 USD/MMBtu 10.99%
- OPEC Basket Price 115.21 USD/bbl -1.74%
UEE
East Zeit Hosts Third Technical Workshop Ahead of EOGC 2026
The development of oil fields in the Eastern Desert and Gulf of Suez was the focus of the third technical workshop organized by the Egypt Oil & Gas Group ahead of the 12th Egypt Oil & Gas Convention (EOGC 2026). Held on October 28 -29 at the East Zeit area of the Offshore Shukheir Oil Company (OSOCO), the workshop brought together representatives from Egypt’s public and private petroleum sectors to discuss field development and share technical and operational experience. The workshop was attended by Tamer Edrees, Deputy CEO for Production at EGPC, Mohamed Ali, Chairman of OSOCO, and Mohamed Farouk, Egypt Vice President at Dragon Oil, alongside other leaders from the public and private sectors.
gas production
Bapetco Prepares Egypt’s Largest Multistage Fracturing Operation at Obaiyed Gas Well
Badr El Din Petroleum (Bapetco) is preparing to carry out Egypt’s largest multistage hydraulic fracturing operation at the Obaiyed H18 horizontal gas well in the Western Desert, aiming to revive production from a well experiencing natural decline and support domestic gas output, according to a Ministry of Petroleum and Mineral Resources statement. Halliburton, the service provider carrying out the operation, has confirmed the availability of the required equipment and technical preparations. These include 18 high-pressure pumps with a combined hydraulic horsepower exceeding 40,000. Execution is expected to begin in the coming days.
Capital increase
Qalaa Holding Approves Capital Increase, Higher Stakes in ERC and TAQA Arabia
Qalaa Holding’s extraordinary general meeting (EGM) approved an increase in the company’s issued capital, alongside the allocation of proceeds amounting to EGP 3.868 billion. The meeting also reviewed agreements to raise Qalaa’s indirect ownership in the Egyptian Refining Company (ERC) from 13% to 27.1%, while bolstering its stake in TAQA Arabia by approximately 5%, according to a disclosure on the Egyptian Exchange (EGX).
installation works
PMS Completes Installation of Two Offshore Platforms at Kamose Gas Field
Petroleum Marine Services (PMS) has completed the installation of two offshore production platforms, Hoor-1/2 and KSE-1, under Phase Four of the Kamose offshore gas field development project in North Sinai, the company said in a statement.
energy security
EU Energy Ministers to Discuss Winter Energy Security as Gas Prices Surge
EU energy ministers will discuss winter energy security and affordability as escalating conflicts drive oil and natural gas prices higher and European gas storage levels fall to 75% of capacity.
wind power
Cabinet Grants Golden Licenses for Two 900-MW Wind Power Projects
The Cabinet has approved granting golden licenses to two companies developing wind power projects with a combined capacity of 1.8 gigawatt (GW) in the Gulf of Suez and Ras Shukeir areas, as part of efforts to expand renewable energy capacity and attract private investment.
offshore exploration blocks
TotalEnergies Acquires Stakes in 26 Chevron-Operated US Offshore Exploration Blocks
TotalEnergies has acquired a 25% working interest in 26 Chevron-operated offshore exploration leases in the United States, expanding its Gulf of Mexico exploration portfolio and strengthening its partnership with Chevron, according to an October 28 company announcement. The leases are located 150 to 250 kilometers offshore and comprise 24 blocks in the Green Canyon area and two in Walker Ridge. The blocks target established geological plays, while the companies did not disclose the financial terms of the transaction.
Egypt Aluminium
Scatec Secures $217 Mn Financing for Egypt’s Dandara Solar Project
Scatec, a leading renewable energy solutions provider, has secured $217 million in financing for the first phase of Dandara solar and battery storage project in Egypt and is starting construction of the power plant. The first phase includes a 569-megawatt (MW) solar plant and 100-megawatt-hour (MWh) battery system that will supply renewable electricity to Egyptalum. Commercial operations are expected to begin in the first half of (H1) 2028.
