Oil & Gas News
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Twenty oil wells drilled in the Zohr field, daily production at 2.2 billion cubic feet of gas
The decrease in gas production at the Zohr field is normal as all gas fields experience a natural decrease in order to maintain the reservoir.
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SDX Energy sells off Egyptian assets, aims expand operations in Morocco
The sale will support the company in positioning itself for “upcoming diversification into Morocco's energy transition sector”.
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Eni, partners pledge $7.7 bln investment in Egypt over four years
Eni's most notable discovery in Egypt was the Zohr Gas Field in 2015, which allowed the country to achieve self-sufficiency in gas by 2018.
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Egypt’s gas exports under threat
The country’s hopes for becoming a regional gas production powerhouse and LNG export hub are thwarted by question marks.
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Egypt hedges 35% of its petroleum until mid-2024
The hedging contracts that were agreed to be executed ranged between 75 and 80 dollars per barrel, and about 35 percent of the total oil needs.
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British, Ugandan investors buy 11.4 percent of Egypt's TAQA Arabia
British and Ugandan investors have bought 154.8 million shares of local Egyptian energy company TAQA Arabia, which accounts for 11.45 percent.
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Eni to invest $7.7B in Egypt over 4 years
Sisi said he looks forward to more cooperation with Eni to achieve optimal utilization of Egypt's resources from the energy sector.
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Egypt scores successes in petroleum sector, boom in gas exports: Maat Report
This comes in light of the huge projects implemented by the state in this sector, as the oil sector continues to be a great success.
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Latest news of the Egyptian oil industry
Egypt sees major oil sector growth with new discoveries by Cheiron and investments by Shell and Dragon Oil. Exploration deals valued at $319 M signed.
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Egypt plans to drill 45 exploratory gas wells in Mediterranean, Delta until mid-2025
The Egyptian government announced a plan to drill 45 natural exploratory gas wells in the Mediterranean and the Nile Delta with $1.9 billion.
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TAQA Arabia offers to buy military-owned Wataniya's fuel stations
Egypt energy company TAQA Arabia has submitted a non-binding agreement to acquire fuel stations owned by Wataniya Petroleum.
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Egypt to drill 35 gas wells by 2025 as BP invests
The energy giant pledged $3.5 billion in investment into gas exploration in Egypt over the next three years.
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British oil major BP to invest $3.5 bln in Egypt in 3 years: CEO
The company is also keen to provide scholarships to young Egyptian people to study in major British universities, Looney noted.
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Nigeria, Algeria, and Egypt to dominate Africa’s gas supply market from 2023 to 2027
This is according to data from the African Energy Chamber in its August 2023 State of African Energy report.
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Egypt announces new oil discovery in Gulf of Suez
The new discovery was made by Egypt's Cheiron through exploration well GNN-11, currently producing more than 2,500 barrels a day, the ministry said.
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Oil minister confers with Apache officials on exploration activities in Med. Sea
Molla said Apache has recently achieved many successes as part of a promising program for digging oil wells in the Western Desert.
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Egypt: a leading natural gas producer in the Eastern Mediterranean
Egypt has emerged as Africa's second-largest gas producer with proven reserves of 75.5 trillion cubic feet (tcf) of natural gas.
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Lower natural gas exports widen Egypt's trade deficit by 4.3 percent in May
Egypt's trade deficit grew by 4.3 percent to $3.74 billion in May 2023, compared to $3.57 billion in the same month last year.
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Shell to begin drilling oil exploration wells in Egypt in September
This is part of Shell’s plans to be an energy hub in the region amid the ongoing power cuts for the shortage of gas supply needed for power stations.
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Egypt received its first shipment of mazut
The shipment is the first of the government’s planned imports of Mazut to meet the increasing demand for electricity.