News / Egypt
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.
New Chinese Investments Worth $250 Million for Petroleum Sector
PRESS RELEASE Sherif Ismail, Minister of Petroleum and Mineral Resources, received a delegation from Star Oil & Gas Limited (SOG), the Chinese partners in the International Drilling Material Manufacturing Co. (IDM) in which the petroleum sector contributes 50%.
$12 Billion for BP Egypt Gas Development Project
British oil company BP expects to invest around $12 billion with its partners as part of a finalised West Nile Delta concession deal to develop five trillion cu ft of gas resources and 55 million barrels of condensates.
Egypt Petroleum Ministry Announces 2015 Discoveries Adding 2350 b/d
GANOPE and Italian Eni’s total exploration production for the beginning of 2015 amounted to 2530 barrels of light crude oil per day.
Petroleum Ministry: Stabilizing Local Production and Import Programs for Butane
Hamdi Abdel Aziz, the Ministry of Petroleum's official spokesman confirmed the stabilisation of domestic production of butane from refineries and fields of production, in addition to the stabilisation of butane imports.
Petroleum and Mineral Projects for March Economic Summit
The Ministry of Petroleum and Mineral Resources announced in a press release the projects that will be presented in the Economic Summit taking place in Sharm el-Sheik on the 13th of March.
