The Gulf of Suez Petroleum Company (GUPCO) has approved a budget of around $543 million to achieve a production rate of around 77,000 barrels per day of crude oil (bbl/d) in Fiscal Year (FY) 2020\21, GUPCO Chairman, Mohamed El Meligy said.
SDX Energy Plc, the Middle East and North Africa (MENA)-focused oil and gas company, announced on February 14 the commencement of drilling operations in Salah and Sobhi wells at South Disouq.
The Emirati on demand petroleum product supplier, CAFU Company has signed memorandum of understanding (MOU) with the Egyptian General Petroleum Corporation (EGPC) to provide fuel delivery service under the regulation and safety standards.
The signing took place on the sidelines of EGYPS 2020 Conference and was attended by ECHEM Chairman Saad Helal, EGAS Chairman Osama el-Bakly, and members of Egypt’s PSM Steering Committee.
Wintershall Dea and Egyptian Minister of Petroleum H.E. Tarek El Molla have signed the concession agreement for the East Damanhour block.
The Minister of Petroleum and Mineral Resources, Tarek El Molla, said that the petroleum sector has finished up linking 724,000 housing units to natural gas grid throughout the period from July 2019 to January 2020, to bring the total number of linked houses to 10.750 million.
Tarek El Molla, Minister of Petroleum and Mineral Resources, reviewed the production rates of crude oil in the fiscal year (FY) 2019/20 and plans for the production increase.
The President Abdel Fattah El Sisi, has stressed on continuing the modernization of the oil and gas sector through developing the petrochemicals industry to cope up with the international market variables.
SDX Energy Plc announced on January 28 that it will start drilling three new wells at South Disouq and West Gharib concessions.
The Minister of Petroleum and Mineral Resources, Tarek El Molla, agreed with the Minister of Electricity and Renewable Energy, Mohamed Shaker, to sign a protocol that aims at settling both ministries' debts and adopting a method for future transactions in a manner that ensures avoiding any financial accumulations or new arrears.
