According to Egypt’s official Gazette, President Abdel Fattah Al-Sisi ratified law no. 167 of 2019, allowing the Minister of Petroleum and Mineral Resources to contract with the Egyptian General Petroleum Corporation (EGPC) and Apache West Kanayes Corporation LDC to amend the commitment agreement to search for oil in West Kanayes concession in the Western Desert, Al Shorouk Reported.
This law was issued according to the law no. 20 of 2005, which was updated by the law no. 121 of 2014.
Ministry of Petroleum and Mineral Resources (MoP) convened the joint coordination cooperation platform with the Ministry of International Cooperation (MOIC), under the title “Egypt as a Regional Energy Hub: Reforms and Prospects in the Oil and Gas Sector".
TransGlobe Egypt production averaged around 11,009 barrels of oil per day (bbl/d) in April and recorded 10,238 bbl/d throughout Q1 2021.
Prime Minister Mostafa Madbouly witnessed the signature of land allocation contract for establishing the largest refinery and petrochemical complex in Ail Al-Sokhna at the Suez Canal economic zone (SCZONE) with investments worth $7.5 billion.
The ASD-1X Well has been successfully tested from both the Lower Bahariya and Abu Roash C (ARC) reservoirs and reached a Total Depth (TD) of 3,750 meters on March 30, several days ahead of schedule and under budget.
Loading ...| Commodity CMDTY | Units | Price | Change |
| Crude Oil (WTI) WTI | USD/bbl | 65.13 | +0.35% |
| Crude Oil (Brent) Brent | USD/bbl | 68.55 | +0.40% |
| NYMEX Natural Gas | USD/MMBtu | 2.93 | -0.81% |
| OPEC Basket Price | USD/bbl | 68.20 | +2.29% |
Last Modified May 10, 2021
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