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Eni starts production of Baltim South West field offshore Egypt

Eni starts production of Baltim South West field offshore Egypt

September 17, 2019 No Comments

Eni announces the successful commissioning and start-up of production of the offshore Baltim South West gas field in Egypt. Discovered by Eni in June 2016, the field goes on-stream in a record time, just 19 months after the final investment decision (FID) was approved in January 2018. This result further confirms the success of the […]

Egyptian Oil Industry Poised to Support South Sudan Growth

Egyptian Oil Industry Poised to Support South Sudan Growth

August 28, 2019 No Comments

Egypt’s Petroleum Minister H.E. Tarek El-Molla will speak at the South Sudan Oil and Power 2019 (SSOP) conference alongside South Sudan Minister of Petroleum Hon. Awow Daniel Chuang; South Sudan’s Ministry of Petroleum calls for oilfield technology companies from Egypt and globally to optimize oilfields, increase production and improve environmental performance; Together South Sudan and […]

Zohr gas production reaches 2.7 bcfd

Zohr gas production reaches 2.7 bcfd

August 21, 2019 No Comments

Eni announces that the production from Zohr field has now reached more than 2.7 billion cubic feet per day (bcfd), about 5 months ahead of the Plan of Development (PoD). This remarkable result has been achieved following the completion of all eight onshore treatment production units – the last one commissioned in April 2019 – […]

Israel To Begin Exporting Natural Gas To Egypt Soon

Israel To Begin Exporting Natural Gas To Egypt Soon

July 31, 2019 No Comments

Israel is set to start natural gas exports to Egypt within four months, Israeli Energy Minister Yuval Steinitz told Reuters on Wednesday. Israel and Egypt, which mark this year 40 years since signing a peace treaty in 1979, have made meaningful advances in their natural gas industries in recent years and are competing to become Eastern Mediterranean’s next […]

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Egypt-IMF Executive Board Completes Fifth Review

Egypt-IMF Executive Board Completes Fifth Review

July 25, 2019 No Comments

On July 24, 2019, the Executive Board of the International Monetary Fund (IMF) completed the fifth and final review of Egypt’s economic reform program supported by an arrangement under the Extended Fund Facility (EFF). The completion of the review allows the authorities to draw the equivalent of SDR 1,432.76 million (about US$2 billion). This brings […]

Eni announces new production from the Western Desert

Eni announces new production from the Western Desert

July 23, 2019 No Comments

Eni announced that production from South West Meleiha Development Lease, located in the Egyptian Western Desert, some 130 Km North of the oasis of Siwa, has started. The current production, delivered through two oil producer wells, is around 5.000 barrel of oil per day (BOPD) and is expected to reach 7.000 BOPD within September 2019. […]

Dana Gas received $48 million from Egypt in June

Dana Gas received $48 million from Egypt in June

July 3, 2019 No Comments

Dana Gas PJSC (“Company”), the Middle East’s largest regional private sector natural gas company, has received payments of $48 million (AED 177 million) from its operations in Egypt in June. These collections comprise $38 million in payments from the government (of which $30 million as Dana Gas’ share of the industry payment) and $10 million […]

BP divests mature oil assets in Egypt to Dragon Oil

BP divests mature oil assets in Egypt to Dragon Oil

June 5, 2019 No Comments

BP has agreed to sell its interests in Gulf of Suez oil concessions in Egypt to Dragon Oil, the Dubai-based oil and gas company. Under the terms of the agreement, Dragon Oil will purchase producing and exploration concessions, including BP’s interest in the Gulf of Suez Petroleum Company (GUPCO). Dragon Oil is a wholly-owned subsidiary […]

DANA GAS SPUDS WELL IN EGYPT CONCESSION AREA

DANA GAS SPUDS WELL IN EGYPT CONCESSION AREA

May 22, 2019 No Comments

Dana Gas PJSC (“Company”), the Middle East’s largest regional private sector natural gas company, today announced it has commenced drilling operations on 20 May at its Merak-1 well, offshore Egypt. The location is in 755 meters of water in the North El Arish concession, also known as Block 6. This block is in the Eastern […]

Egypt’s Extended Fund Facility

Egypt’s Extended Fund Facility

May 17, 2019 No Comments

The IMF mission reached a staff-level agreement with the Egyptian authorities for the completion of the fifth and the final review of Extended Fund Facility. •           Prudent monetary and fiscal policies and a flexible exchange rate have underpinned macroeconomic stabilization and strengthened Egypt’s resilience to external shocks, while social protection measures have helped ease the burden […]

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