Egypt, that currently imports ten cargoes of liquefied natural gas per month is set to cut its imports down to seven monthly deliveries by September. Continue reading
Earlier this week, Saudi Arabia, the UAE, Bahrain and Egypt cut diplomatic and economic ties with Qatar, accusing Qatar of supporting extremism. The measures are of unprecedented severity in modern GCC diplomacy with adverse consequences for Qatar, not least for its reputation as a business and international and regional transit hub and as host for international events, including the 2022 World Cup.
Egypt will make a debt payment of $750 million to international oil companies on June 1, Central Bank Governor Tarek Amer said on Tuesday. The country has outstanding dues of about $3.5 billion to international oil and gas companies. Continue reading
BP said May 10 it has started gas production from the first two fields, Taurus and Libra, of the West Nile Delta development in Egypt. Continue reading
One company pushing ahead with operations around Africa is Eni, which continues to make discoveries and sell down finds, writes Nicholas Newman.
WHAT: Eni is focused on African opportunities.
WHY: The continent remains under-explored and Eni has the skill, and interest, to push its exploration work forward.
WHAT NEXT: Selling off stakes in Egypt and Mozambique should provide the company with funds to sustain its grand exploration plans. Continue reading
Egypt hopes its gas market will be balanced in 2018 and expects to begin exporting gas by 2020, EGAS chief Mohamed Al-Masry said on Wednesday at an oil conference in Cairo. Continue reading
Eni’s investment in its activities in Egypt reached US$2.7 billion in 2017, the company’s CEO, Claudio Descalzi noted during his meeting with Egypt’s president Abdel Fattah el-Sisi.
Descalzi and el-Sisi discussed the ongoing development activities of the giant Zohr gas field that is progressing according to schedule and the production startup is confirmed for the end of 2017.
In addition to the Zohr gas field activities, the parties discussed the Nooros development, which will produce about 25 mscm/d (172,000 boepd) by the end of January 2017.
Descalzi and el-Sisi also discussed Eni’s future exploration activities in Egypt, including the two new concession agreements for the North El Hammad and the North Ras El Esh blocks, signed in December as a result of the EGAS 2015 international bid round.
Italian oil and gas company Eni on Tuesday said it has signed two new concession agreements for the North El Hammad and North Ras El Esh, located in the shallow waters in the Egyptian Mediterranean Sea, as a result of the EGAS 2015 international bid round. Continue reading
Daily News Egypt reports that Shell has offered the Rosetta concession, offshore Egypt, for sale. Daily News Egypt said a source close to the company told it that Shell decided not to carry out any development operations in Rosetta. Continue reading