Egypt | Egypt Oil & Gas - Part 363
Merlon to Invest $54m in Fayoum Concession
US Merlon International Oil Company decided to invest $54m in the development and production operations at its Fayum concession in Egypt.
El Sisi Met with Eni’s CEO
Egyptian President, Abd El Fattah El Sisi, met with Eni's CEO, Claudio Descalzi, and discussed Zohr field's production
Egypt Reviewed Fuel Subsidy Budget Allocations
The Egyptian Ministry of Petroleum and Mineral Resources is reviewing fuel subsidy allocations for fiscal year 2016/2017 to decide on the amount it will be requested to increase the budget allocation.
Egypt Reimbursed Firms Withdrawing from FiT
The Egyptian Ministry of Electricity and Mineral Resource reimbursed 10 companies that withdrew from the energy purchasing Feed-in-Tariff (FiT) projects in the city of Benban, Aswan.
Egypt Reduced Oil, Gas Arrears to $3.5b
Egypt's arrears to international oil companies (IOC) decreased from $3.6b in September to reach $3.5b by the end of December 2016.
Egypt Produced 4.5bcf/d of Gas
Egypt's natural gas production increased from 4.45bcf/d in November 2016 to 4.5bcf/d.
Sino Tharwa Bids Over a Rig in Algeria
Sino Tharwa Drilling Company had entered a bid in Algeria, through Italian ENI, over renting rig (ST-16) with a capacity of 200 HP.
Ministry of Electricity Asked for Extra Budget
The Egyptian Ministry of Electricity presented a memorandum to the Cabinet asking to increase allocations after the EGP devaluation.
