ONGC Videsh Ltd. (OVL) and its partner IPR Red Sea Inc. have made a significant new oilfield discovery in their first exploration well North Ramadan-1A in the North Ramadan Concession, Gulf of Suez, Egypt.
Perenco has completed the acquisition of a further 50% interest in the Offshore North Sinai Concession (ONS) in Egypt through the purchase of Burlington Resources Egypt Limited from ConocoPhillips.
CAIRO: A consortium of four banks, headed by Commercial International Bank (CIB), has finalized a deal with the Egyptian Propylene and Polypropylene Company (EPPC) to finance $450 million (LE 2.6 billion) for the establishment of a new processing plant in Port Said.
Eng. Sameh Fahmy, Egyptian Minister of Petroleum and Abdel Galil Al Khalifa, President of the World Society of Petroleum Engineers (SPE) for the Middle East region discussed mutual fields of cooperation between the Egyptian Petroleum society and SPE, particularly in the domain of exchanging expertise in the whole value chain of the oil and gas and petrochemicals.
Egypt expects its natural gas output to rise to 56 billion cubic meters in 2007, an 11% rise on 2006's production, the country's Minister of Petroleum Sameh Fahmy said today.
CROSCO Integrated Drilling & Well Services Co., Ltd. is to provide drilling and workover services for Khalda Petroleum Company, a Joint Venture of Apache Corporation and the Egyptian General Petroleum Corporation ("EGPC").
Enppi Co. and Petroleas de Venezuela Sociedad Anonima (PDVSA) signed a $4 million contract to train a group of Venezuelan workers in different fields of petroleum.
An official source in Kuwait-based Kharafi Group in Cairo announced the group was scheduled to launch works to build its chemicals and petrochemicals complex in Fayoum within six months, wired Al-Qabas.