Sector Reforms Contribute to Rising Reserves, Economic Growth: El-Molla
Reforms within the Petroleum Sector helped raise the Egypt's economic growth rate from 2% to 5.5% and increase foreign exchange inflows to about $163.6 billion since 2015.
News / Egypt
Egypt to Amend Oil Hedging Mechanism
The petroleum and finance ministries are adjusting the hedging mechanism for fiscal year (FY) 2019/2020 in line with recent global oil prices.
Total to Pump Investments in Egypt
French energy giant Total looks to increase its exploration and production (E&P) activities in the West Mediterranean and the Red Sea, as well as raising its overall investments in Egypt.
Scatec Solar Operates Third Plant in Benban
The commercial operation announcement is the second out of six plants in Benban.
Ministry of Petroleum to Build $8.5 B Petrochemicals Complex
The Ministry of Petroleum and Mineral Resources is studying the construction of a new refinery and petrochemicals complex in the Al-Alamein region with investments of about $8.5 billion.
Ministry of Petroleum to Implement 11 New Projects with $15 B Investments
This comes as result of achieving self-sufficiency and increasing natural gas production after the implementation of 27 projects to develop natural gas fields.
Egypt’s Oil, Gas Production Hits Record Level at 1.9 M boe/d
Minister of Petroleum Tarek El Molla announced that the Egyptian petroleum sector has recorded its highest ever production rate at 1.9 million barrel of oil equivalent per day (boe/d) of oil, gas, and condensates.
Ministry of Petroleum to Launch Bid Rounds in West Mediterranean
The Ministry of Petroleum and Mineral Resources is planning to launch a new bid round in Q3 2019 for natural gas exploration in the West Mediterranean region.
EETC, Siemens to Provide Egypt with First Digital Power Transformer
The Egyptian Electricity Transmission Company (EETC) has signed an agreement with Siemens to supply Egypt with the first digital power transformer, Sensformer.
Wild Well Brings New Response Equipment to Egypt
The equipment arrived to Egypt on April 22 and is now available for local operators, providing them with both response and preventative measures during critical well operations.
