Ganoub El Wadi Petroleum Holding Company has moved the deadline for receiving offers for its international bid for oil and gas exploration in the Red Sea from August to September to allow more companies to submit ...
The meeting reviewed the work progress of the new techniques used in seismic data collection in Gulf of Suez, aimed for preparing a study of new geological concepts and increasing production and reserve rates.
Investments in the new project are expected to reach around EGP 4 billion.
The Egyptian General Petroleum Corporation aims to increase its production of crude oil and condensates by 50,000 barrels per day (b/d), bringing its total production to nearly 710,000 b/d by mid-2020.
French energy giant Total looks to increase its exploration and production (E&P) activities in the West Mediterranean and the Red Sea, as well as raising its overall investments in Egypt.
The Ministry of Petroleum and Mineral Resources is planning to launch a new bid round in Q3 2019 for natural gas exploration in the West Mediterranean region.
Egypt plans to double its exports of liquefied natural gas (LNG) by the end of 2019 to reach 2 bcf/d.
El Molla and Al-Falih met on the sidelines of the World Economic Forum on the Middle East and North Africa that is taking place in Jordan on April 6-7.
Ganope announced that the companies that have been awarded Red Sea 10 exploration blocks will have the right to sell its production shares locally or export it with the Ministry of Petroleum’s approval.
El Molla pointed out that the ministry’s commitment to secure an investment attractive climate will encourage big international oil companies (IOCs) to invest in Egypt.
