APA Corporation announced that the Egyptian Parliament has approved the agreement to modernize and consolidate its current Production Sharing Contracts (PSCs) with the government.
The Egyptian Parliament, chaired by, Ahmed Saad El-Din, First Undersecretary of the Parliament, approved a draft law submitted by the government licensing the Minister of Petroleum and Mineral Resources, Tarek El Molla, to contract with EGPC and partners for oil exploration.
Alexandria Petroleum Maintenance Company (Petromaint) has signed a joint cooperation agreement with Alkhorayef Petroleum Company (APC).
Fuel and mineral oils came on top of the list of Egyptian exports in the first nine months of 2021 with $8.3 billion compared to $4.2 billion in the same period last year, according to the Central Agency for Public Mobilization and Statistics (CAPMAS).
A summary of last week’s major macroeconomic updates and indicators brought to you on one page for your convenience.
The amendment agreement with North Amriya Offshore Concession Agreement will contribute to the development of a number of discoveries through an integrated project which includes drilling 4 wells and connecting them to the facilities of Abu Qir Company.
During the meeting, El Molla pointed out the launch of an ambitious plan to start early production of commercial gold detection in the Iqat area in the eastern desert of Egypt during the coming period in light of the high possibilities of the gold extraction rate of discovery, where the average concentration of gold is 1.5 grams per ton.
During the meeting the two ministers discussed a number of issues of joint cooperation within the framework of the EMGF.
The energy ministers participating in the EMGF showcased the outcomes of the first phase of the Forum's long-term strategy, which reflects the basic objectives presented in the charter. Furthermore, the ministers confirmed the importance of natural gas during the energy transition as the least carbon-intensive fossil fuel.
On the sidelines of the Sixth Ministerial Meeting of the Eastern Mediterranean Gas Forum (EMGF), Minister of Petroleum and Mineral Resources Tarek El Molla held bilateral talks with his Greek counterpart Costas Skrekas, during which they discussed ways to expand cooperation in the field of oil and gas to achieve mutual benefits for both sides.
