Egyptian Petroleum Minister Tarek El Molla, inaugurated the 'Egypt Energy Hub in the Era of Digital Transformation' seminar, which was hosted by Raya IT Company.
Egypt and Jordan signed amendment agreement for the agreements and memoranda of understanding (MoU) between the natural gas companies in the two countries.
Revising the price is based on the development agreement, which states the revision of prices two years following production start.
The increase will be achieved according to the company's plan to drill 38 exploratory and development wells, and to complete 13 other wells in its concessions. The company further seeks drilling 19 exploratory and development wells and maintain 15 wells in the concessions in which it is working with international oil companies (IOCs) as per exploration and production (E&P) agreements.
Rashpetco and Burullus Gas plan to pump investments totaling $500 million to execute different project, including the 9B phase project, and the construction of a pipeline connecting the West Delta Deep Marine (WDDM) gas fields.
Apex International Energy and Neptune Energy are among companies considering bids to purchase up to $2 billion of Edison's exploration and production (E&P) assets in Egypt and Italy.
The increase is aimed to be reached through drilling 71 new exploratory and development wells in 2019/20.
The recent discoveries in the Western Desert confirms that this region still has undiscovered resources, which will encourage international oil companies (IOCs) to increase their exploration and production (E&P) investments in the deep layers in sedimentary basins, the minister noted.
APRC plans to produce 1.3 million tons of kerosene and diesel, 1.1 million tons of mazut, 341,700 tons of naphtha for export, 143,500 tons of jet fuel, 90,300 tons of asphalt and bitumen, and 80,300 tons of butane.
The company is aiming to produce 1.3 million tons of mazut, 1.3 million tons of naphtha, 1.2 million tons of diesel, 485,000 of jet fuel, 99,100 tons of butane, 37,000 metric tons ofs solvents, and 6,600 tons of neutral lubricant prepared from 10,000 tons of used lubricants.
