Oil Exploration | Egypt Oil & Gas - Part 2
BP, Kuwait Petroleum Corp. Sign New Framework Agreement
UK’s oil and gas major BP and the state-run Kuwait Petroleum Corporation (KPC) have signed a framework agreement to explore possible joint opportunities for investment and cooperation in future oil, gas, trading...
Cyprus Extends Exploratory Drilling Licenses to ENI
The Cyprus government has approved a two-year extension for the licenses of Italy’s ENI and its South Korean partner KOGAS to explore oil and gas reservoirs off the southern coast of the Mediterranean island, He...
Iran Drills New Wells, Moves into LNG Carrier Construction
Iran’s South Yaran Oilfield plans to drill 22 wells by March 2016, reported Trade Arabia, citing Mohammadreza Takayedi, deputy head of National Iranian Drilling Company (NIDC). He added that up to 60,000 b/d of crude ...
South Africa Benefits from Oil Price Drop with Statoil’s Help
South Africa’s trade deficit narrowed to $65m in September as lower oil prices curbed imports, according to the Pretoria-based South African Revenue Service, reported Bloomberg. The trade gap had been declining since ...
Russian Company Begins Ethiopia Oil Exploration
Russian oil and gas company GPB Global Resources is embarking on an oil exploration project in the Afar Regional State of Ethiopia. The country’s Ministry of Mines, Petroleum and Natural Gas, and GPB Global Resources ...
Kenya Grants Offshore Production Sharing Extension
Erin Energy Corporation obtained an 18-month extension of its Initial Exploration Period (IEP) of its offshore blocks in Kenya, L27 and L28, reported Rigzone. The IEP will expire now in February 2017. “We are delighte...
Kuwait Foreign Petroleum Accumulating Underwritten Debt
Kuwait Foreign Petroleum Exploration Company (Kufpec), a wholly-owned subsidiary of Kuwait Petroleum Corp, said on Saturday it had received an additional $1.5 billion loan, raising a previous debt it took last Novembe...
Egypt’s EGPC to Invest for First Time Outside Country in Iraq/Kuwait Deal
Egypt’s state oil company signed an agreement to join Kuwait Energy in developing an oil field in southern Iraq, the company’s first foray into upstream work outside of Egypt, the Egyptian oil minister sai...
