The SRM-3 well is located in South Ramadan. the well reached a 15,635-feet depth, encountering around 75 feet of net conventional oil pay in its Matulla section, in addition to 20 feet of the new conventional oil pay in the brown limestone formation and around 15 feet in the Sudr section.
Egypt's petroleum trade deficit dropped by 29% year-on-year (YOY) in Q1 of fiscal year (FY) 2018/19, recording -$688.1 million, compared to -$970.4 million in same period of 2017/18.
EMGF kicked-off from Cairo on January 14, hosting the Greek, Cypriot, Italian, Israeli, Jordanian and Palestinian Ministers of Energy, who came to Egypt upon the invitation of Egyptian Minister of Petroleum Tarek El Molla.
A summary of the week’s important macroeconomic updates and indicators brought to you on one page for your convenience.
Halting the imports will be achievable as Egypt is conducted several expansion projects in refineries, including Middle East Oil Refinery (Midor) and Egyptian Refining Company (ERC).
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.
