PetroShorouk Company is continuously intensifying its exploration activities at Shorouk Concession in order to confirm the discovered reserves in line with the construction works in the onshore and offshore facilities of the project.
The Egyptian natural gas production increased by around 14.11% year-on-year (Y.o.Y.), rising to 3.12 million tons in November 2017, compared to 2.734 million tons in November 2016.
Gulf of Suez Petroleum Company (GUPCO) plans to drill 4 new wells, including one exploratory well and three development wells, during fiscal year (FY) 2018/2019.
The Egyptian Natural Gas Holding Company (EGAS) will launch a bid round within few days for nine areas, including six areas offshore the East Mediterranean Sea and three areas onshore the Nile Delta.
Egypt intends to stop importing liquefied natural gas (LNG) by the end of fiscal year (FY) 2017/2018, which ends late June 2018, according to Minister of Petroleum, Tarek El Molla.
South Valley Egyptian Petroleum Holding Company (Ganope) plans to produce 8.9 million barrels of oil during FY 2018/2019.
The International Monetary Fund (IMF) believes that gas subsidies benefit mainly the rich, advising the Egyptian government to allow fuel prices to change in line with costs.
South Valley Egyptian Petroleum Holding Company (Ganope) surveyed 4,200 km of Red Sea water out of 10,000 km, in addition to other areas in Upper Egypt.
Egypt will receive 12 million barrels of Iraqi crude oil throughout 2018, starting this January.
EGAS plans to drill and develop natural gas fields in the Mediterranean Sea in order to boost production to around 6 billion cubic feet per day (bcf/d) by the end of fiscal year (FY) 2017/2018, which will gradually increase to 7 bcf/d of natural gas by the end of FY 2018/2019.
