The meeting reviewed the work progress of the new techniques used in seismic data collection in Gulf of Suez, aimed for preparing a study of new geological concepts and increasing production and reserve rates.
Egypt plans to apply an oil hedging mechanism in fiscal year (FY) 2019/20 that starts in July after its efforts to lock-in oil prices in the FY 2018/19.
Dana Gas PJSC has received around $48 million from its operations in Egypt in June 2019; of which $38 million from the Egyptian government and the remaining $10 million from selling the second El Wastani condensate shipment in 2019.
The Ministry of Petroleum and Mineral Resources has announced linking around 3.9 million households, 7,801 commercial units, and 266 factories to the national natural gas grid during the past five years.
The Faculty of Engineering at the British University in Egypt (BUE) discussed graduation projects by students of the Petroleum Engineering and Gas Technology department (PEGT), led by the use of nanotechnology in improving oil production.
The Egyptian Electricity Transmission Company (EETC) signed two contracts with Siemens Egypt at a cost of EGP 21 million.
The production capacity of the new well is estimated at 415 barrels per day (b/d).
The total production of oil and natural gas reached 6.8 million tons during April 2019, compared to 6.1 million tons during the same month in 2018.
Town Gas aims to deliver natural gas to approximately 35,000 commercial customers and bakeries by the end of December 2019
Egyptian Prime Minister Mostafa Madbouly discussed areas of cooperation with Siemens in the fields of transportation, renewable energy and technology.
