The Ministry of Petroleum and Mineral Resources signed four agreements for oil and natural gas exploration and production (E&P) operations in the Western Desert, Gulf of Suez, and Nile Valley with minimum investment costs of $155 million, in addition to a signature bonus for drilling 30 wells estimated with $10.5 million.
The signatures ceremony was attended by the Chinese Ambassador in Egypt, Liao Liqiang, Khaled Al Ghazaly the head of Phosphate Misr company and several number of Egyptian and Chinese officials, in the presence of the Minister of Petroleum and Mineral Resources, Tarek El Molla.
The state-owned Russian company Zarubezhneft announced that it has joined two offshore blocks in Egypt under a production sharing agreement (PSA).
The Minister of the Petroleum and Mineral Resources, Tarek El Molla participated in the Organization of Arab Petroleum Exporting Countries (OAPEC) meeting, held in Kuwait on Sunday 22 December, to discuss the petroleum issues.
The President Abdel Fattah Al-Sisi directed the Minister of the Petroleum and Mineral resources toward the continuation expansion of the research, exploration and production plans through his meeting with the cabinet
Rockhopper Exploration plc is currently producing 340 barrels per day (b/d) of oil from its existing ASH-1ST2 well at Abu Sennan concession.
Egypt's diesel consumption has increased to 1.1 million tons per month, a 0.1 million tons year-on-year increase, Abed Ezz El Regal, CEO of the Egyptian General Petroleum Corporation (EGPC), announced.
The Egyptian cabinet agreed upon two new petroleum commitment agreement projects for the Egyptian Natural Gas holding company (EGAS), and several numbers of the national and international companies.
The Borg El-Arab Petroleum Company has made a new petroleum discovery in the ASH-2 area of Abu Senan concession in the Western Desert, with a production rate of 7,000 barrel of crude oil per day and 10 million cubic feet per day (mcf/d) of natural gas.
The Minister of Investment and International Cooperation, Sahar Nasr, met the delegation of the Emirati Mubadala Investment company in Egypt, headed by the Chief executive officer of development of Mubadala Petroleum, Mansoor Al Hamed
