United Arab Emirates-based Dana Gas announced a gas and condensate discovery in Egypt's Qawasim formation, its third find in the North African country this year.
RWE Dea, a subsidiary of German utility RWE, said on Thursday it planned to begin gas production in Egypt and Algeria within five years and would double its overall oil and gas output during the period.
Egypt has increased its oil output by 55,000 barrels per day (bpd), bringing the country's daily oil production to 700,000 barrels for the first time in 14 years, the official MENA news agency reported.
GE Oil & Gas is launching its innovative "Power Crystal" technology for an upgrade project that will increase the power output and performance of gas turbines at an LNG plant owned by the Egyptian Operating Company for Natural Gas Liquefaction Projects (Egyptian LNG).
RWE Dea has made a new gas discovery in the Egyptian Nile Delta. In the onshore part of the Disouq concession, the South Sidi-Ghazy 1x-well found the Messinian formation gas bearing for the second time.
A recent government report ranked Egypt as the ninth fuel subsidies provider in the world, failing however to consider the controversial energy prices hikes implemented last May.