Egypt’s oil and gas sector has managed to achieve several successes throughout 2019. These are some of the sector’s highlights:
Minister of Petroleum and Mineral Resources Tarek El Molla has praised the achievements that the Egyptian General Petroleum Corporation (EGPC) accomplished during the Fiscal Year (FY) 2018/19. It is especially important to acknowledge the achievement of four oil discoveries with production rates of 2,800 crude oil barrels per day (b/d) and 1.1 million cubic feet per day (mmcf/d) of natural gas.
El Molla also confirmed that the natural gas industry witnessed a breakthrough over the past two years. Reviewing the Egyptian Natural Gas Holding Company (EGAS) achievements during FY 2018/19, Osama El-Bakly, EGAS Chairman, said the natural gas production hit a record of 7.2 billion cubic feet per day (bcf/d) in September.
Eni plans to link well number 13 of offshore Zohr gas field, located at the Mediterranean, to production by next week, according to a source in the petroleum sector. The production rate at the rest of the wells will be reduced to a minimum level to test the 13th well, whose production rate ranges between 150 and 250 mmcf/d.
Egypt’s natural gas production has reached 7 bcf/d, up from 6.8 bcf/d at the end of June. The government is currently working on finishing all petroleum projects on time, if not earlier, to achieve its plans of self-sufficiency and become an exporter instead of an importer.
The Ministry of Petroleum and Mineral Resources announced 10 new exploration wells in the Western Desert in the East Bahareya Extended Area 3, with an average daily production of 5,000 barrels of oil equivalent per day (boe/d).
Ganoub El Wadi Petroleum Holding Company (Ganope) achieved three new oil discoveries at its oil fields, two of which were brought online at the oil fields of Eish Al Mallaha and Petro Mallaha during FY 2018/19.
SDX Energy has announced a new oil discovery in its West Gharib concession in Egypt. The company encountered a commercial oil accumulation of approximately 135 feet of net heavy oil at a depth of 4,665 feet. The well was brought online at a steady average of roughly 315 b/d (gross).
The Ministry of Petroleum and Mineral Resources connected the first well to the national grid at Southern-Western Baltim gas field, located 12 kilometers (km) away from the Nooros field in the Nile Delta. The new well is expected to produce 100 mmcf/d of gas after being linked to the onshore Abu Madi plant via a 44-km-long pipeline.
Khaleda Petroleum Company has achieved unprecedented record numbers in its history during the last fiscal year, where the company recorded the highest daily crude oil production rate of more than 141,000 barrels last April and the highest annual crude oil production rate of more than 49 million barrels.
Agiba Petroleum Company (APC) raised crude oil production rates to 44,000 b/d and around 18.4 mmcf/d of natural gas in the FY 2018/19. Moreover, the company has increased its crude oil production to nearly 45,000 b/d from its fields in the Western Desert and the Gulf of Suez.
Badr Eldin Petroleum Company (BAPETCO) has brought online 39 new oil wells for FY 2018/19, with a production rate estimated around 6700 b/d of crude oil and 23 million cubic meters per day (mmcm/d) of natural gas.
Rashid Petroleum (Rashpetco) and Burullus Gas Company have successfully completed drilling the remaining six wells within the 9B phase of the West Delta Deep Marine (WDDM).
Tarek El-Molla has signed two agreements with two state-run agencies. The trilateral agreement touches on exploring new petroleum and gas wells in the Western Desert, with minimum investments reaching $4 million.
El Molla discussed with Gerald Schotman, Executive VP Upstream JVs at Royal Dutch Shell, new ways to intensify Exploration and Production (E&P) activities and drive more investments.
Jordan’s National Electric Power Company (NEPCO) and the Jordanian-Egyptian FAJR for Natural Gas Transmission and Supply Company have signed two gas supply deals. Under the first agreement, 4 million standard cubic feet per day (mmscf/d) of natural gas will be provided to the Jordan Phosphate Mines Company (JPMC). The second agreement was signed with Nuqul Group, according to the Jordanian Ministry of Energy.
EGAS is due to sign a contract with the Jordanian-Egyptian Fajr for Natural Gas Transmission and Supply Company. Accordingly, Egypt will extend a natural gas pipeline to Amman-based JPMC.