The company has produced 18,150 barrels of oil equivalent per day (boe/d) during Q1 2024, divided into 88 million standard cubic feet (MMscf) of gas; 1,800 barrels per day (bbl/d) of condensate and 140 metric tons per day (mtpd) of liquified petroleum gas (LPG). This production is 25% lower than output in Q1 2023 as a result of natural field declines and absence of meaningful investments.
The Egyptian Refining Company (ERC) has contributed c.90% to Qalaa Holding’s total revenue during the financial year ending 31 December 2023 (FY 2023).
World-leading oil and gas drilling services provider, ADES Holding Company (ADES), has secured a Direct Award of Contract (DAC) from Suez Oil Company (SUCO) in Egypt. The 21-month jackup drilling contract for the Gulf of Suez is expected to begin in the coming weeks.
Prime Minister Mostafa Madbouly has issued a decree to appoint Mohamed Abdel Aziz as Chairman of Egypt’s Gas Regulatory Authority (GASREG), given the endorsement of Minister of Petroleum and Mineral Resources Tarek El Molla, to succeed Karem Mahmoud, whose term as GASREG head ended in February 2024.
The Egyptian Natural Gas Holding Company (EGAS) announced a contract with the Norwegian Höegh LNG Company to rent the Höegh Galleon floating unit for liquefied natural gas (LNG).
The Ministry addressed the reasons for and responded to 1,986 complaints and reports, with a completion rate of 90% of the total complaints and reports received in April 2024
Minister of Petroleum and Mineral Resources, Tarek El Molla, mourned with great sadness the late Honorable Abdel-Khaleq Ayad, Chairman of the Senate Energy Committee and former Chairman of the Egyptian General Petroleum Corporation (EGPC), who passed away today, May 2nd.
Abu Qir Fertilizers Company's (AFC) Board of Directors has approved the financial statements for the financial period that has ended on March 31st, 2024.
Under the high patronage of the Minister of Petroleum and Mineral Resources Tarek El Molla, Egypt Oil & Group has launched "Digital Transformation: Accelerating Efficiency in Oil & Gas Operations," a two-day workshop aimed at exploring the potential of digital solutions in optimizing the performance of Egypt's oil and gas industry.
Minister of Planning and Economic Development, Hala Al-Saeed, said that the Integrated Sustainable Energy Strategy (ISES 2035) represents the cornerstone of the plan to diversify energy sources in Egypt.
