The Egyptian Ministry of Petroleum and Mineral Resources has paid EGP 1b to Italian Eni, as part of the outstanding dues for for the company's equity production.
Egypt Gas Company has incurred total losses of EGP 50.4m for the first 9 months of 2016. This comes to over 14% increase when compared to EGP 43.9 losses for the same period during 2015.
Egypt Gas Lost EGP 50m
Independent Resources and Nostra Terra Company said that their joint venture (JV) in Egypt, Sahara Resources GOS Incorporation, was officially issued with a commercial registration and tax ID.
A committee from the Egyptian Ministries of Electricity and Environment will present to the Egyptian Cabinet a proposal to increase power purchasing tariffs for producing electricity from biofuel.
Shell has sustained its investments in Egypt through the past period, and is currently in early stages of evaluating WDDM results for future exploration prospects.