In its 16th voluntary sustainability report “Eni for 2021 - A just transition”, Eni outlined its pivotal role in supporting Egyptian local and youth entrepreneurship, in addition to promoting education and professional training in Egypt as well as Angola, Iraq, Mexico, and Mozambique.
Prime Minister Mostafa Madbouly held a meeting with CEO of the Norwegian renewable energy company Scatec Terry Belskog to discuss the first issuance of green bonds to refinance the company's plants in the "Benban Solar Complex".
Egypt, which is one of Argentina's 23 listed producers and traders, is set to ship two rare cargoes of LNG, the first since 2013, reflecting how a tight global market is influencing supply routes.
The company's working interest output in Egypt for 2022 is expected to average between 1,500-1,650 barrels of oil equivalent per day (boe/d) net; including production from current wells, which have historical decline rates applied, as well as the output from two other planned development wells.
A meeting was held to discuss cooperation between the petroleum sector and the global company General Electric, as this cooperation came within the framework of the Cop27 global climate summit, which Egypt will host in Sharm El Sheikh, and this joint cooperation will be in the field of sustainability and emissions reduction. This meeting was chaired by Tarek El Molla, Minister of Petroleum and Mineral Resources, and Roger Martella, Head of Sustainability Sector at the international company.
A meeting was held in light of the great desire of Honeywell International to expand its business portfolio in Egypt and participate in strategic projects, especially in the fields of green fuels and the provision of advanced technologies to reduce emissions and benefit from them, in addition to contributing to the initiatives that are being prepared to be launched during the Global Climate Summit COP27 hosted by Egypt late this year. Where this meeting took place in the presence of Tarek El-Molla, Minister of Petroleum and Mineral Resources, with Khaled Hashem, President of Honey Well International for North Africa, and Mohamed Muhaisen, President of the company for the Middle East.
SD-12 East began spudding on 16 April 2022, and is expected to reach TD within three weeks. In both the Ibn Yunus and Sobhi reservoirs, the main target is the base Kafr El Sheikh Sand at around 6,480 feet TVDSS. The well targets an estimated gross unrisked production of 7 Bcf and has a 80% success rate. It is expected that SD-12 East will be on production by mid-July 2022 if SD-12 East is successful in its connection to the CPF through the existing SD-12X flow-line.
On Tuesday, United Oil & Gas PLC announced a quarterly production update for the first quarter (Q1) of 2022.
On Tuesday, a memorandum of understanding (MoU) was signed for joint cooperation between the Port Said Company for Marine Engineering and Construction, and the Alexandria Petroleum Maintenance Company (Petromaint).
According to El-Molla, the number of cars running on natural gas has reached 440,000 so far, and that the project brings many economic and environmental benefits to the citizenry, as a meter of gas is equivalent to half the price of a liter of gasoline. In addition to its high octane number, it is a clean and environmentally friendly fuel.
