The New Pricing Indexation Mechanism Boosts Electricity Investments
Applying the power pricing indexation mechanism will boost the energy investments and increase the production in Egypt.
News / Egypt
Ministry of Petroleum Announces 10 New Exploration Wells in Western Desert
The Ministry of Petroleum and Mineral Resources announced 10 new exploration wells in the Western Desert in the East Bahareya Extended Area 3, with an average daily production of 5,000 barrels of oil equivalent per day (boe/d).
Revolta to Establish Egypt’s First EV Manufacturing Factory
The electric vehicle (EV) factory will be located in 6th of October City and will be set up in collaboration with Ukrainian firm Eco Factory, an engineering company that specialises in manufacturing commercial vehicles as well as storage devices and control systems for EVs.
Egypt Kuwait Holding’s NSCO Completes Drilling Second Well in North Sinai, Producing 75 mcf/d
NSCO Investments Limited, a subsidiary of Egypt Kuwait Holding (EKH) has completed drilling its second natural gas field at Kamos concession (KM-1) in North Sinai of Egypt at a depth of 2,664 meters, with a production capacity of 20 mcf/d, raising the company’s average daily output to 75 mcf/d, compared to 25 mcf/d during the first six months of 2019.
Electricity Sector to Receive EGP 111.9 B Investments
The Ministry of Planning, Monitoring and Administrative Reform announced that the total investments targeted for the electricity sector during the year 2019/2020 is about EGP 111.9 billion, which is 9.6% of the country’s total investments.
Khalda Petroleum Records Highest Production
Khaleda Petroleum Company has achieved unprecedented record numbers in its history during the last fiscal year, where the company recorded the highest daily crude oil production rate of more than 141,000 barrels and the highest annual crude oil production rate of more than 49 million barrels,
EGAS Calls Off Three LNG Cargo Tenders
The cancellation was due to the low value of the offers.
Petroleum Sector to Achieve Self-Sufficiency Ahead of Time
The government is currently working on finishing all petroleum projects on time, if not earlier, to achieve its plans of self-sufficiency and be an exporter instead of an importer.
Egypt to Turn 27 MM Electricity Meters into Prepaid Ones
Mohamed Shaker, the Minister of Electricity and Renewable energy handed a massive operation that aims to turn around 27 million electricity meters into prepaid ones, to the Arab Organization for Industrialization (AOI), El Sewedy Electric, Iskraemeco, Electro Meter Corporation (EMC), El Maasara Company and Global Company.
Zohr Total Investments Reach $10.6 B
Zohr field’s total investments reached $10.6 billion, of which $3 billion were injected in fiscal year (FY) 2018/2019 after the field reached a production level of 2.7 billion cubic feet per day (bcf/d).
