Egyptian Crude Reserves at 2.4B Barrels
Egypt possesses 2.4 billion barrels of oil and condensate reserves as of October 2017.
Egypt possesses 2.4 billion barrels of oil and condensate reserves as of October 2017.
Egyptian companies must prioritize exploration and drilling for oil, the Minister of Petroleum and Mineral Resources, Tarek El Molla, said.
The Egyptian General Petroleum Corporation (EGPC) is planning to launch a new exploration and production (E&P) tender before the end of 2017.
The Egyptian Minister of Petroleum and Mineral Resources, Tarek El Molla, announced new appointments and promotions.
Egypt produced an average of 626,000 barrels per day (b/d) of crude oil and condensates in fiscal year (FY) 2016/2017.
The Egyptian Petrochemicals Holding Company (ECHEM) is constructing a $3 billion petrochemical and refining complex in the Suez Canal Economic Zone.
The Egyptian Cabinet granted preliminary approval for the Egyptian Natural Petroleum Corporation (EGPC) to supervise the development of the Ras Fanar area.