News / Egypt
Dana Gas unlocks 86 Billion cubic feet of gas onshore Egypt
Dana Gas, the Middle East's first and largest regional private sector natural gas company, has announced two more significant gas discoveries -- Faraskur-1 and Marzouk-2 -- in one of its concessions in the Egyptian Nile Delta. Together, the two wells are expected to add 86 billion cubic feet (bcf) of gas to the company's Egypt reserves. Jordan OKs Gas Field deal between BP, NPC
In the session held Oct. 7, chaired by Jordan's Prime Minister Nadir al-Dhahabi, the Council of Ministers approved the partnership agreements between the National Petroleum Company (NPC) and the British company British Petroleum (BP) for the concession of the Al-Rishah gas field, including the agreements for amending the concession, execution, share remittance, and operation. PGNiG begins exploration for oil in Egypt
PGNiG opens its branch office in Egypt, which will search for oil in the country at a cost of $200-300 million. Egypt gets USD174.5m for energy and water projects
Egypt is receiving two loans worth a combined EUR120m from the European Investment Bank to develop renewable energy and water projects. The first loan of EUR50m (USD72.7m) will support the development of the Gabal el Zait offshore wind farm Aminex drills ahead at South Malak-1 onshore Egypt
Aminex has provided an update on the South Malak-1 well in the West esh el Mellaha concession, onshore Egypt. Egypt to raise energy prices for non-intensive industries
Egypt will decrease subsidies on natural gas and electricity to non-energy intensive industries, the local press reported, raising prices 26 percent by the beginning of 2010, announced Amr Assal, chairman of the Industrial Development Authority. Beach Updates Drilling in North Shadwan Concession
Beach Petroleum provides an operational update on its drilling Egypt. In the Gulf of Suez’s North Shadwan Concession, The NS 394-3 [Burtocal North] oil exploration well (Beach 20%) is drilling ahead at a depth of 2117 metres in the South Gharib Formation. The primary reservoir target is the Nubia Formation. Oil price fall could derail Mideast rebound: IMF
The Middle East can look forward to solid growth this year and next, but a fall in crude prices could undermine prospects for oil exporters and importers alike, the IMF warned on Thursday. 
