Tharwa Petroleum Company has recorded a rise in proven reserves amounting to 3.5 million barrels (mmbbl) in the West Kalabsha area, located in Egypt’s southern desert, opening new horizons for development operations to boost production rates, stated Mahmoud Abdel Hamid Mahmoud, Board Chairman and Managing Director of the company, while reviewing the company’s key achievements in fiscal year (FY) 2024 in the general assembly meeting.
The Chairman of the Egyptian Drilling Company (EDC), Osama Kamel, revealed that the company was able to drill 200 new wells and repair over 600 in 2024. He showcased the company's performance, noting that it added two new rigs using the latest technologies in drilling and safety performance maintenance. This was reported during the company's general assembly meeting, headed by Minister of Petroleum and Mineral Resources Karim Badawi.
Chairman of Petroleum Air Services Company (PAS), Ihab Abd Al-Maksoud, reviewed the most significant results achieved by the company during 2024. He explained that along with the company's existing contracts with its oil and gas clients for both helicopters and fixed-wing aircraft, this year also saw the signing of new contracts, as well as the renewal and extension of other ones using the company's fleet of 39 aircraft (31 helicopters of various models and eight fixed-wing aircraft).
The deposits in Sukari Gold mine (SGM) are expected to exceed the initial estimates as shown by recent prospecting studies, Prime Minister Mostafa Madbouly stated following his two-day field visit to the mine in Marsa Alam, Red Sea governorate. The total investment in Sukari over the past decade exceeded $2 billion, with mining equipment alone valued at $235 million, including cranes, crushers, heavy machinery, and mobile facilities, according to Madbouly.
Representatives of the Egyptian petroleum sector participated in the Africa Energies Summit, held in London from May 13 to 15. They showcased the investment opportunities the sector offers together with incentives the government grants to investors in the oil and gas deals
Prime Minister, Mostafa Madbouly conducted a site visit to Sukari Gold Mine (SGM) in Marsa Alam, where he met with executives from AngloGold Ashanti,co-owner of SGM, alongside Minister of Petroleum and Mineral Resources Karim Badawi, geological experts, and parliamentary representatives. The visit aimed to follow up work in the mine and review future expansions, and investment opportunities in Egypt’s mining sector.
Modern Gas, an Egytian joint stock company with operations in both Saudi Arabia and the United Arab Emirates (UAE), announced the successful completion and operation of its integrated natural gas project in Al Jubail Island in Abu Dhabi, UAE.
The Cabinet approved five petroleum concession agreements between the Egyptian General Petroleum Corporation (EGPC), the Egyptian Natural Gas Holding Company (EGAS), and a number of international companies. These agreements cover oil exploration and exploitation in the Northwest El-Maghara in the Western Desert, East El-Hamd and East Gemsa offshore Gulf of Suez, as well as exploration and exploitation of gas and crude oil in the North Damietta offshore area in the Mediterranean.
The Egyptian Natural Gas Holding Company (EGAS) and Harbour Energy have signed an agreement to expand exploration and production operations onshore Disouq gas field in the Nile Delta concession area. The agreement would secure an additional acreage of the concession under improved commercial terms, noted a Harbour Energy press release.
Being the operator of the field, Disouq Petroleum Company (DISOUCO), a joint venture between Harbour Energy and EGAS, gains the right to produce natural gas under the revised conditions while committing to increased drilling activities within the existing Disouq concessions and the newly awarded acreage.
United Energy Group (UEG), a global leader in renewable energy, has signed a Memorandum of Understanding (MoU) with Alexandria Fertilizers Company (AlexFert), one of Egypt's largest fertilizer producers, to develop a project to produce green ammonia from green hydrogen. Using renewable energy in the production of green ammonia, the project replaces traditional fossil fuels-based production methods with cleaner alternatives.
