Minister of Petroleum and Mineral Resources Tarek El Molla gave the go-ahead for a digital customer service (DSC) pilot project, which Town Gas designed and implemented, the ministry said in a statement.
Abu Dhabi National Oil Company (ADNOC) declared that a new world record for the longest oil and gas well has been set at its Upper Zakum Concession.
The meeting emphasized Egypt's commitment and readiness to pump natural gas to Lebanon immediately upon completion of the procedures related to the start of exporting Egyptian gas and receiving it in Lebanese territory.
QatarEnergy declared the signing of a share sale and purchase agreement with Qatar Electricity and Water Company (QEWC) to acquire QEWC’s 49% interest in Siraj Energy, which will result in Siraj Energy becoming a wholly owned affiliate of QatarEnergy, subject to customary approvals.
I am pleased to say that with the kind support of the Ministry, EGPC, Bapetco, Shell, and Capricorn (our Partner in the acquisition) the transition period was managed very successfully. The highlights included the establishment of a new Cheiron team of secondees within the Bapetco organization (including many ex-Shell employees who we are pleased to welcome to our company); building new relationships with Bapetco and our Partners; achieving alignment on the planned work program; the novation of numerous commercial agreements and; the setting up new financial and management systems.
Our Neptune Energy portfolio in Egypt includes the Northwest El Amal exploration concession offshore in the Gulf of Suez, which is a 100% Neptune-operated block and where we are preparing to drill our first exploration well, Yakoot-1X. We also hold a non-operated interest in the producing asset, Alam El Shawish South West (AESW) in the western desert.
Have oil and gas companies finally been able to profit since the pandemic? The short answer: yes… but this does not come without a handful of complications. To begin with, it has become of high interest to know that, recently, major oil and gas corporations reported multi-billion figure earnings over the course of the 2nd quarter. Simultaneously, worldwide inflation has reached record levels over the course of the last half-century, and downturns are looming. The oil and gas sector's enormous profits are astonishing when juxtaposed with the many homes now having to pay for basic heat, conditioning, and nutritional demands.
In line with Egypt’s strategy towards expanding the use of clean energy, TAQA Power, a subsidiary of TAQA Arabia, the full-service energy and utility provider in Egypt, announced the commissioning of the largest solar power plant in Sharm El-Sheikh build on an area of 250,000 sqm and with a production capacity exceeding 42 GWh / year.
ExxonMobil and major hydrogen and nitrogen products producer CF Industries have reached the largest-ever commercial agreement to capture and permanently store up to 2 million metric tons of CO2 emissions annually from its Louisiana industrial complex. CF Industries, ExxonMobil, and EnLink Midstream will collaborate on a landmark emissions-reduction project in Louisiana.
Centamin has announced that the full commissioning of its solar plant located at Sukari Gold Mine is expected in Q4 2022.
