News / Egypt
Electricity Ministry Negotiates Benban Projects
Egypt’s Ministry of Electricity and Renewable Energy is currently negotiating, with four consulting firms, the construction reports of four energy substations in Benban, Aswan.
EGAS Completes Drilling 4th Well in Zohr Field
The Egyptian Natural Gas Holding Company (EGAS) Chairman, Mohamed El Masry, has announced that his company has completed drilling the fourth well in Zohr natural gas field, in the Mediterranean Sea.
Egypt Marks $7.7b Investments in New Oil Industry Projects
Egypt's Ministry of Petroleum and Mineral Resources stated in a report that the current investments in new oil industry projects amount to roughly $7.7b.
TAQA Arabia Considers Constructing New 50MW Power Plant
Egypt’s largest private sector energy distribution company, TAQA Arabia, is considering establishing a new 50MW-capacity solar power plant. It will come in addition to the existing 50 MW solar plant project that the company seeks to implement in Aswan at cost of $75m.
EGAS Delivered Natural Gas to Homes in 25 Governorates
According to a report issued by the Egyptian Natural Gas Holding Company (EGAS), Vice Chairman for Planning and Gas Projects, Gamal Hegazy, stated that the total gas aggregation for homes in the fiscal year (FY) 2015/2016 in 25 governorates in the country reached 715,000 housing units
Saipem Wins EPCI Contract to Develop Zohr
Italy’s offshore contractor Saipem has won an engineering, procurement, construction, and installation (EPCI) contract in the Zohr gas field in the Mediterranean Sea. The contract, that is worth more than $1.77b, states that the operations will begin in July 2016 and are set to be completed by the end of 2017.
CBE Notes $3.7b Decrease in Egypt’s Export Proceeds
As a result of the declining oil prices that are witnessed on a global scope, Egypt’s export proceeds have decreased by $3.7b during the first nine months of fiscal year (FY) 2015/2016.
Egypt Reduces Debts to IOCs to $3.4b
Egypt has reduced the arrears it owes to foreign oil companies by $100m to $3.4b in 2015/2016, compared to the previous year, declared the Petroleum Minister, Tarek El Molla.
