Oil minister Tarek El Molla has signed three new exploration contracts to drill 15 wells in the Mediterranean and the Western Desert with an investment budget of $139.2 million and a $55 million signing grant.
Alexandria National Refining and Petrochemicals Company (ANRPC) is starting the pilot operation of its refining project and will start production next month.
The oil and finance ministries have chosen a firm to sign fuel hedging contracts with the government.
A summary of the week’s important macroeconomic updates and indicators brought to you on one page for your convenience.
Oil minister Tarek El Molla and his Jordanian counterpart Hala Zawati renewed an agreement that will allow Jordan to receive 10% of its gas needs from Egypt.
The government is encouraging citizens to complete the required papers in order to connect their houses to the natural gas grid.
Oil minister Tarek El Molla discussed mutual cooperation with his Jordanian counterpart Hala Adel Zawati.
The national company Belayim Petroleum Company (Petrobel) is planning to produce 500 million cubic feet per day (mcf/d) of natural gas from its south west Balteem project by mid-2019, according to the company’s head Atef Hasan.
Oil minister Tarek El Molla asserted the importance of the sector’s modernization program in transforming Egypt into an energy hub.
The Ministry of Petroleum and the Egyptian Exchange have begun negotiations regarding the creation of a natural gas exchange market.
