IOCs

Petroleum Ministry Postpones Closing Date of 2021 E&P Bid Round

The Minister of Petroleum and Mineral Resources, Tarek El Molla, announced the postpone of the closing date of the first bid round in 2021 for petroleum exploration and production to the end of September 2021 according to the desire of several international oil companies (IOCs).

ADNOC Launches Initiative to Level Up Tendering Process

The Abu Dhabi National Oil Company (ADNOC) has implemented an initiative to drive efficiencies in its tendering process to improve its approach to procurement and maximize value for ADNOC and its community of suppliers and service providers, according to ADNOC’s press release.

Consortium of Total, Eni, Novatech Continues Oil Activities in Lebanon

The Caretaker Minister of Energy and Water, Raymond Ghajar, stated that the consortium made up of Total, Eni and Novatech Companies, is continuing its oil activities in Lebanon under the leadership of the operating company, Total, especially in implementing the amended law 160/2020 (suspension of deadlines) with the first exploration period being extended in Blocks 4 and 9 of Lebanese territorial waters until August 13, 2022.

El Molla Signs 9 New Oil and Gas Agreements Worth More than $1B

The Minister of Petroleum and Mineral Resources, Tarek El Molla, has signed 9 new agreements worth more than $1 billion for drilling 17 new exploration wells to search for petroleum and natural gas in Mediterranean, and the Red Sea with six international and Egyptian companies.

Petroleum Investments Surpass EGP 1.2 T in 6 Years

The petroleum sector’s investment rate over the past six years has surpassed EGP 1.2 trillion in addition to attracting about 90% of foreign investment to Egypt.

El Molla: Cooperation Essential to Secure Energy’s Future

Cooperation between countries is a must to overcome the Covid-19 pandemic and its repercussions on the energy future to secure energy needs, Tarek El Molla, Minister of Petroleum and Mineral Resources, stated during the Abu Dhabi International Petroleum Exhibition Conference (ADIPEC).

El Molla Highlights O&G Achievements During BEBA Webinar

The Minister of Petroleum and Mineral Resources, Tarek El Molla, shared the petroleum sector’s achievements  and challenges in the past period stating that “the oil and gas sector has been moving forward with all its activities and plans steadily despite the volatile circumstances which have proven the efficiency and sustainability of the sector’s strategic plans and bold reforms.” This came during a British Egyptian Business Association’s (BEBA) Egypt’s Green Economy webinar under the title “Future of Oil and Gas: Challenges and Opportunities,” which was held on November 9.

El Molla: EUG to Transform Egypt’s E&P Investments  

The Minister of Petroleum and Mineral Resources, Tarek El Molla, referred to the Egypt Upstream Gateway (EUG) and how it will reflect positively on the exploration and production (E&P) investments in Egypt.

Norway Receives Large Number of Applications for Next Bid

The Norwegian Ministry of Petroleum and Energy has received a large number of applications from 33 oil companies in the licensing round Awards in Predefined Areas (APA) 2020.

Petroleum Sector Receives Investments of EGP 60.6 B in FY 2020/21

The Minister of Planning and Economic Development, Hala Al Saeed said that they will invest EGP 60.6 billion in updating the petroleum and mineral resources sector during the fiscal year 2021/2020 representing 8.2% form the total investments.

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