With a proven track record of 10 years, the sixth term of this strategic conference was held in a very critical period of time for the Egyptian petroleum sector. Over nearly the past three months, specifically after the eruption of political and social unrests since January 25th, the Egyptian petroleum sector has been exposed to a wide public attack that has resulted in various administration changes.
Opening the 6th term of Intergas witnessed the participation of key figures of the petroleum industry on the national and international level. The opening session was inaugurated by Eng. Hassan Mahdy, Chairman of the Egyptian Natural Gas Holding Company (Egas), Eng. Ahmed Atallah, Chairman of Shell Egyupt, Eng. Mohammed Al-Howqal, Kuwait Energy Company Chief Operations Officer and Niveen El-Shafie, Vice Chairman of the General Authority for Investment and Free Zones (Gafi).
Eng. Hassan Mahdy, Chairman of the Egyptian Natural Gas Holding Company (Egas) denied that there are foreign companies that withdraw their investments from Egypt. “Some companies are in fact selling their stake in some concessions, however, this does not mean that they are withdrawing their investments from the country,” Mahdy told Egypt Oil & Gas.
He further added that, “all companies are now working on increasing their production rates through the drilling of more exploratory wells in various concessions that cover all Egypt.”
“Most of companies are implementing their annual plan and efforts are focusing on completing most of their operations in a short time of period.”
Asked about the review of all gas contracts, Eng. Mahdy clarified that the Ministry of Petroleum is honoring all contracts signed with any other countries, but the current target is protect the national economy from any possible losses caused by the exportation of the Egyptian natural gas, specifically to Israel.
Mahdy revealed that Egas is planning to release a new bid round over the coming period of time, as an attempt to lure more foreign investments into the country.
On the sideline of the conference, Eng. Ahmed Atallah, Shell Egypt President told Egypt Oil & Gas, “there will be a new plan during this fiscal year, which aims at increasing the production and boosting the volume of reserves“.
Atallah added, “We are now waiting for the approval of the budget to implement the plan.”
As usual, Intergas VI played its role in founding the connection between all parties by addressing the unsolved topics, such as
Promising potentials and development opportunities in Egypt
Status of current oil and gas exploration and production activities
Egypt’s future in terms of crude oil and natural gas production
New governmental policies that would lure more investments
Financing of the hydrocarbon sector; evolving structures and new sources of liquidity
Technological breakthroughs in the oil and gas sectors
Petrochemicals in Egypt; challenges and expansion news
Techniques and solutions for natural gas monetization
Expansions and future plans for refineries
LNG and Egypt – future possibilities and current challenges
Local content initiatives in Egypt
Moreover, the Intergas VI seized the opportunity to shed light on business opportunities, best practice and industry updates throughout the Middle East and North Africa (MENA) region.
Intergas has always attracted the key figures of the petroleum industry, not only from Egypt, but also from all over the world.
Through the conference technical sessions, various critical and vital topics were discussed, which offered a large panel for the conference delegates to exchange views and expertise.
The conference agenda, characterized by its topics variety, tackled the following topics; Acquisition Technology, Asset Integrity, Deepwater Technology, Drilling Technologies, Economies, Gas Handling, Health, Safety & Environment, Improving Downstream Operations, IT & Artificial Intelligence, LNG Technology, Offshore Technology, Petrochemicals Industry, Production Engineering, Project Management, Reservoir Evaluation, Risk & Uncertainty, Surface Facilities and Well Construction.
As for Intergas VI Exhibition, Each term of Intergas witnesses a remarkable participation increase. Representing the different sectors of the oil and gas industry, each exhibitor seizes the opportunity of Intergas to display his latest and unique products/services and serves a place among the industry players.