Petrobel’s Business Results for 2015/2016

• Tuesday, 30th August 2016
• by Sarah Samir

Petrobel invested $948m in oil and gas exploration and operations during the fiscal year 2015/2016, with $426m directed towards the development of wells, leading to a hike in reserves of around 5.8m barrels of crude oil, 835bcf of gas, 6.5m barrels of condensates, in addition to more than 1m tons of butane.

Egypt, World Bank to Connect 2.4m Households to Natural Gas

• Tuesday, 30th August 2016
• by Sarah Samir

Egypt and the World Bank reviewed the latest updates on a project to connect natural gas to 2.4m households, with total investments worth more than $650m.

Egypt to Finalize Gas Market Regulating Law

• Monday, 29th August 2016
• by Sarah Samir

Egypt's State Council will finalize a new law to regulate the gas market by the end of August to be submitted to the Egyptian Parliament for approval.

Egypt Paid $5.4b in Oil, Gas Arrears

• Monday, 29th August 2016
• by Egypt Oil & Gas

The Egyptian Minister of Petroleum and Mineral Resources, Tarek El Molla, stated that the ministry has paid off an amount of $5.4b to cover all arrears for the fiscal year 2015/2016 in regard to purchases of equity crude oil and natural gas from foreign contractors.

Dana Gas to Discuss $700m Debt Mix

• Monday, 29th August 2016
• by Egypt Oil & Gas

Dana Gas PJSC, a producer of natural gas in Egypt, Iraq and the United Arab Emirates, may seek to roll over part of the $700 million Islamic bonds maturing next year. The company’s CEO, Patrick Allman-Ward, said that the firm has $344m in cash, is in discussions with lenders about its future debt mix.

Adenium to Secure 85% Funding for Aswan Solar Plant

• Monday, 29th August 2016
• by Egypt Oil & Gas

The Adenium Energy coalition is close to sealing a deal with a British bank to fund 85% of the cost of a 50-MW solar power plant with feed-in tariff (FiT) contract in Aswan, southern Egypt. The deal in tails investments worth nearly $100m

Eversheds to Consult on Egypt-Emirate Power Company

• Sunday, 28th August 2016
• by Sarah Samir

Egypt's New and Renewable Energy Authority (NREA) enters into an agreement with UK's Eversheds Law Firm to be the legal consultant for the first Egyptian-Emirate energy producing company that will construct a 200 MW power facility in the Suez Gulf area.

Egypt’s Gas Outputs to Reach 6bcf/d by 2020

• Sunday, 28th August 2016
• by Sarah Samir

A recent report from Egyptian Natural Gas Holding Co (EGAS) stated that the Egyptian oil and gas sector is aiming to increase the country's production of natural gas gradually from 4bcf/d to reach 6bcf/d of gas by 2020.

El Molla Reviewed Agiba’s Fiscal Results

• Thursday, 25th August 2016
• by Egypt Oil & Gas

Egyptian Minister of Petroleum, Tarek El Molla, headed a general assembly of Agiba Petroleum Company to review fiscal results for 2015/2016.

Frames Awarded Design, Supply Contract for Zohr Field

• Thursday, 25th August 2016
• by Egypt Oil & Gas

ENPPI and Belayim Petroleum Company (Petrobel) have contracted Dutch company, Frames, to design and supply eight sour gas filter coalescers and eight shell and tube heat exchangers to be installed at the El-Gamil Plant which is connected with the ‘super giant’ natural gas field Zohr in Egypt.