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.
Prime Minister, Moustafa Madbouly, witnesses the signing ceremony of two new memoranda of understanding (MoUs) to cooperate in the development of green hydrogen production plants in Egypt, with the participation of the UAE's Masdar and Hassan Allam Utilities Company.
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.
El-Molla stressed the importance of the role played by the union in supporting the petroleum sector’s workers, who play a role in supporting the national economy and meeting the needs of the local market for petroleum products and natural gas.
As a part of the Hayah Karima (decent life) presidential initiative, Egypt has connected 86 villages to natural gas grid. Additionally, the main gas networks are currently being extended to serve about 476,000 customers in 180 villages.
