News / Egypt
Dana Gas Affirms Commitment to Egypt at March Summit
Dana Gas will invest $350 million (Dh1.28 billion) in Egypt over the next 30 months and expects to receive outstanding arrears from the government by the end of 2016, the company’s chief executive said on Saturday.
Egypt’s Ganoub El Wadi Announces Extension of Bid Round Until May
Ganoub El Wadi Petroleum Holding Company (Ganope) announces an extension for the deadline to submit proposals to compete in its 2014 International Bid Round to explore for oil and gas.
Solar Energy Firm Terra Sola to Invest $3.5 Billion in Egyptian Projects
Leading solar power project developers are flocking to Egypt’s solar power market, which is set for a massive expansion.
Egyptian Petroleum Ministry Announces Increased Production by Petrobel
Press Release, In light of the petroleum sector’s policy of speedy execution of new natural gas field development projects and linking them to production to meet the growing needs for domestic consumption, the fourth Decca deep water project in the Mediterranean Sea was put in place with an initial production rate of about 55 mct/d. This will increase initial production to 225 mct/d, and work is underway now on the fifth well. Drilling should be completed with production starting by end of next month. The Decca project is a major natural gas development project with an investment cost of about $578 million and aims to produce about 265 mct/d.
Go-ahead for West Nile Delta project
DEA Deutsche Erdoel AG is pleased to contribute significantly to Egypt’s security of energy supply. The final agreements to develop 5 trillion cubic feet of gas resources had been signed. The West Nile Delta development is considered as of prime importance for Egypt’s energy sector and is currently the largest project in DEA’s portfolio.
Agreement on Shale Price with Shell Egypt and Apache
Egypt has set the price of shale gas expected to be extracted from a recent concession to foreign firms at $5.45 per million British thermal units (mmBtu), an official at the oil ministry said on Monday.
BP Announces Second Major Natural Gas Discovery in Egypt’s East Mediterranean
PRESS RELEASE, BP Egypt announced today another important gas discovery in the North Damietta Offshore Concession in the East Nile Delta. The “Atoll-1” deepwater exploration well, currently being drilled using the 6th generation semi-submersible rig “Maersk Discoverer,” has reached 6,400 metres depth and penetrated approximately 50 metres of gas pay in high quality Oligocene sandstones. Expected to be the deepest well ever drilled in Egypt, the Atoll well still has another 1 kilometre to drill to test the same reservoir section found to be gas bearing in BP’s significant 2013 Salamat discovery, 15 kilometres to the south.
EGPC Owed EGP195 Billion; mainly by Ministries of Finance, Electricity, and Transport for Oil and Fuel Delivered.
The dues owed to EGPC from government agencies rose to EGP195 billion by the end of the month of January, compared to 170 billion at the end of October 2014.
