Oil & Gas News
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Emirati Dragon Oil to boost oil production in Egypt by 27% within two months
Dragon Oil will start production within two months from the North Safa field in the Gulf of Suez, with a capacity of 15,000 barrels of oil per day.
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Egypt, a key US ally in the energy war against China and Russia
The Western alliance of the US and Europe fights dependence on Russian gas through its alliances with Cairo.
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Egypt signs 3 oil & gas exploration agreements worth $320 mln
Egypt has signed three new agreements worth $319.5 million to dig 13 wells.
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NSPO acquires 20% share of TAQA Arabia
The National Service Projects Organization (NSPO) has acquired a 20 percent share of TAQA Arabia at LE 1.6 billion.
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Egypt expects Zohr field’s investments to hit $15bln in 3 years
Current investments into the giant offshore natural gas field are estimated at $12 billion so far.
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Egypt aims to resume gas exports by October, minister says
Egypt is targeting a resumption of liquefied natural gas exports by October at the start of autumn, petroleum minister Tarek El Molla told reporters.
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Why are gas and oil discoveries in Egypt so important for the region?
A crucial development has been the announcement of new oil and gas fields discoveries by western companies.
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United Oil & Gas H1 Revenues Fall on Egypt Challenges
The average realized oil price per barrel from Egypt for the first half was approximately $78, compared with $105 in the first half of 2022.
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EKHO announces new factory and production lines operation in Egypt worth $48 M in investment
Managing Director of EHKO, Sherif El Zayat, stated that the production capacity of the new factory is approximately 165,00 tons yearly.
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Chinese oil company eyes expanding petroleum cooperation with Egypt
The two sides discussed ways to increase cooperation between the NPIC and the Egyptian petroleum sector.
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First oil rig manufactured in Egypt now at Egyptian-Chinese Drilling Company
Minister of Petroleum Tarek al-Molla witnessed the delivery of the first oil rig manufactured at the Egyptian-Chinese Drilling Company in Ain Sokhna.
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TAQA Arabia’s stock surge by 3900% after first day puzzle
TAQA Arabia’s stock surged by a whopping 3,900 percent to close at a value of EGP 20 per share, up from EGP 0.5, ending a two-day havoc.
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El Molla, US DOE’s Crabtree discuss methane and Carbon reduction co-op
The meeting examined the current efforts between the two countries within international initiatives.
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Shell, partners sign agreement to develop 10th phase of Egyptian Mediterranean gas concession
Shell's Egypt unit, BG Delta Limited, and its partners signed an agreement with two Egyptian state-owned energy companies and Malaysia's Petronas.
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Shell to begin drilling offshore Egypt this year
Subject to regulatory approvals, drilling activities are expected to commence in late 2023 when the rig arrives at the location.
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Egypt to dig 35 new natural gas wells, investing $1.8 billion
Over the past five years Egypt has successfully dug 576 new exploratory natural gas wells and made 289 gas and petroleum discoveries.
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Egypt starts $1.8 billion gas exploration wells programme -minister
The programme is in cooperation with Eni (ENI.MI), Chevron (CVX.N), ExxonMobil (XOM.N), Shell (SHEL.L) and BP (BP.L).
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Egypt executes 8 new projects valued at $5bn to expand petroleum sector
This falls in line with the ministry’s bid to develop and propel the performance of the petroleum refining industry in the North African country.
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Israel to build third line to supply Egypt with gas from Leviathan field
The project currently supplies gas to Israel, Egypt and Jordan, and there are plans to sell gas to Europe as well.
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Egypt’s Petroleum Ministry launches digital platform to attract investments
It will also provide the geological data required by current and potential investors and promote bids in the North African country’s gas exploration.