Egypt | Egypt Oil & Gas - Part 402
Power Prices to Remain Stable
As a result of the EGP devaluation, the Egyptian Ministry of Electricity will incur about EGP 100b yearly, EGP 50b came due to the repricing of fuel used in power generation. Yet, there will be no increase in the sel ...
Aramco Halted Oil Cargos Indefinitely
Saudi Arabia’s Aramco has informed Egypt that shipments of oil products expected under a $23b deal would be halted indefinitely.
Egypt to Build Port for Coal-Fired Plant
Chinese Dongfang started studying the establishment of a private port for the construction of a coal-fired plant in Hamraween area in the Red Sea governorate.
FiT Challenged with Devaluation Backlash
Construction companies and solar firms withdrew from new and renewable energy projects due to increased costs as a result of EGP devaluation.
Eni Drills 7th Well in Zohr Field
Eni is developing Zohr field as the drilling of the 6th well had ended with promising results. In addition, the drilling operations of the 7th well has started as the final stage of the accelerated development project.
Egypt Pushed Back Third FSRU
Egypt will postpone contracting a third floating and storage regasification unit (FSRU) for one month. This delay is pending the Egyptian Ministry of Electricity to decide on its needs of liquefied natural gas (LNG ...
Fuel Subsides to Reach EGP 64b
The Egyptian Minister of Petroleum and Mineral Resources, Tarek El Molla, stated that the cost of fuel subsidy will increase to EGP 64b during fiscal year 2016/2017 after the current devaluation.
Van Ord Won Subsea Contract
Subsea 7 awarded Van Oord contracts to establish landfall and execute subsea rock installation works BP’s West Nile Delta project. This includes the development of gas fields located 65km from Egypt's North Coast.
