News / Egypt
Perenco Extends North Sinai Offshore Concession through 2035
Perenco North Sinai Petroleum, a subsidiary of Egypt Kuwait Holding (EKH), has signed a new agreement with the Ministry of Petroleum and Mineral Resources to extend its rights over the North Sinai Offshore concession. The agreement was signed by Raafat El-Beltagy, CEO and representative of Perenco companies, and Salah Abdel kerim, CEO of the Egyptian General Petroleum Corporation (EGPC), in the presence of Minister of Petroleum Karim Badawi, and Jon Rokk, EKH CEO.
Vaalco to Intensify Operations in Eastern Desert
Minister of Petroleum and Mineral Resources, Karim Badawi, has met with Iman Hill, Country Manager of Vaalco Energy in Egypt, to discuss the US-based company’s plans for expanding its operations in Egypt and to utilize renewable energy sources at its operational sites in the Eastern Desert by connecting its production facilities to these sources
Badawi, Shell Discuss Boosting Natural Gas Investments in Egypt
Karim Badawi, the Minister of Petroleum and Mineral Resources, met with Dalia El Gabry, Country Chair of Shell Egypt, to discuss the company’s upcoming investment plans in natural gas exploration and production from its concession areas in the Mediterranean.
Attended by Mahmoud Abdel Hamid, Egyptian Natural Gas Holding Company (EGAS) Chairman, the discussion focused on Shell’s programs to drill new wells, expand exploration activities, and build on recent output gains achieved through the 10th and 11th phases of the West Delta Deep Marine project.
El-Gamil Base Hosts Second Technical Workshop for EOG Convention
El-Gamil Base in Port Said hosted a technical workshop on September 23rd for field engineers from companies operating in Egypt’s Mediterranean offshore gas and oil sector. The event provided a platform for these field engineers to share experiences on best practices and technological innovations with the aim to enhance operational efficiency and safety in offshore exploration and production.
Shell Lubricants and EDC Enter Exclusive 5-Year Production Partnership
Shell Lubricants Egypt (SLE) and the Egyptian Drilling Company (EDC) have renewed their strategic partnership by signing a five-year agreement that places SLE as the exclusive supplier for EDC’s equipment and fleet of 70 active rigs. The renewal ceremony brought together leaders from both organizations, celebrating the seven-year-old partnership.
EGPC, ECS Join Forces to Promote Petroleum Exports, Attract Investments
The Egyptian General Petroleum Corporation (EGPC) and the Egyptian Commercial Service (ECS) are forming a joint action plan aimed at increasing the export of petroleum products and attracting new investments in research and exploration. This came during a meeting between Salah Abdel Kerim, Chairman of EGPC, and Abdel Aziz Elsherif, First Under-Secretary of State at the Ministry of Investments and Foreign Trade and Head of ECS. The joint plan is in line with the state’s directive to boost exports and draw investments.
KIMA to Sell Abu Qir Shares to Cover Liquidity Shortage
The Egyptian Chemical Industries Company (KIMA) reported to the Egyptian Stock Exchange that it will be holding an ordinary general assembly meeting to approve selling part or all of its 2.7% stake in Abu Qir Fertilizers and Chemical Industries Company to the Chemical Industries Holding Company (CIHC). The decision aims to resolve an issue with cash flow in KIMA’s nitric acid and ammonium nitrate project.
Egypt Reaps $295M from Sukari Gold Mine in 2024
Egypt received $295.2 million total from the Sukari Mine during 2024. This was divided into $15.42 million in taxes, $28.78 million in royalties, and $251 million in dividends, according to AngloGold Ashanti's disclosure to the United States Securities and Exchange Commission.
EGPC to Increase Crude Oil for Refining at Alexandria Petroleum Company
The Egyptian General Petroleum Corporation (EGPC) agreed to increase crude oil supplies to the Alexandria Petroleum Company (APC) refinery as well as accelerate the procedures needed to expand the production of petroleum solvents, which are used in a wide range of industries.
The agreement came during a field visit led by Salah Abdel Kerim, EGPC chairman, who highlighted the importance of preparing a feasibility study for the expansion of solvent production. He also affirmed the full commitment to developing the refining facilities and adding new production units to maximize the economic returns of this activity.
