Bechtel is committed to achieving net zero emissions by 2050, and we are currently in the process of setting interim targets that align with the findings of the UN Intergovernmental Panel on Climate Change.
I am pleased to say that with the kind support of the Ministry, EGPC, Bapetco, Shell, and Capricorn (our Partner in the acquisition) the transition period was managed very successfully. The highlights included the establishment of a new Cheiron team of secondees within the Bapetco organization (including many ex-Shell employees who we are pleased to welcome to our company); building new relationships with Bapetco and our Partners; achieving alignment on the planned work program; the novation of numerous commercial agreements and; the setting up new financial and management systems.
Our Neptune Energy portfolio in Egypt includes the Northwest El Amal exploration concession offshore in the Gulf of Suez, which is a 100% Neptune-operated block and where we are preparing to drill our first exploration well, Yakoot-1X. We also hold a non-operated interest in the producing asset, Alam El Shawish South West (AESW) in the western desert.
The Middle East is a very interesting region for us. Business tends to be driven by one client only, the local national oil company. We’ve been involved in converting some of these from metal to spoolable composite pipe. Currently, Middle Eastern operators – and in particular Aramco and ADNOC – have not only standardized the use of spoolable composite pipe for all their fields but are also sponsoring research and driving development of the technology on a global level.
Since the early 1960s, we have been a main player in the Gulf of Suez which continues to be a major oil production area.
Building on the success we have achieved over the last 5 decades, bp has decided to focus on gas, going forward, particularly in the Nile Delta Basin. It is a world-class gas basin with a lot of growth potential, and we have already invested billions of dollars there building an extensive gas infrastructure. Today, together with our partners, bp currently produces around 60% of Egypt’s gas through a joint venture with the Pharaonic Petroleum Company (PhPC) and Petrobel (IEOC JV) in the East Nile Delta as well as through the bp-operated West Nile Delta gas development.
ENAP Board and its Management established in its strategic plan the definition of growing its operations and investments in Egypt besides our operations in the Western Desert in East Ras Qattara Concession. This is of course due to the excellent success that our branch has achieved during the past years and the great economic and institutional stability that Egypt provides for foreign investments in the country.
Despite the continuous efforts by oil companies to recruit more women and make the workplace more hospitable for female employees, still more efforts are needed to bridge the gender gap in the sector. In an interview with EOG, Abdelaziz Khlaifat, Professor & Associate Dean for Undergraduate Studies in the SSE, Petroleum and Energy Engineering, at The American University in Cairo (AUC), offers an insightful analysis of the roots and the potential solutions for the persisting problem.
With Egypt progressing towards its goal of becoming a regional energy hub, investments and production have become more essential than ever to realizing this dream. As the biggest US investor and oil producer in the country, Apache plays a pivotal role in helping Egypt achieve this objective. Egypt Oil & Gas had the opportunity to meet with Apache CEO John Christmann to learn more about the company’s role in Egypt and the region.
2021 was a year full of new challenges and promising opportunities. As Egypt’s petroleum sector powered through the pandemic, it worked toward its goal of becoming a regional energy hub. As new windows of opportunity are about to be opened this year, promising the sector a more prosperous future, Egypt Oil & Gas talks to Minister of Petroleum and Mineral Resources Tarek El Molla to learn more about the sector’s strategy in 2022.
Taking pride in working closely with Egypt’s oil and gas sector, Capricorn Energy is working hard to build on the success that the industry has enjoyed. Our interview with Capricorn Egypt’s Managing Director Eleanor Rowley reveals the company’s strategy to continue its work in enhancing the sector and unlocking the potential that the Egyptian market can use to become more globally competitive.
