Wednesday, June 19, 2024

Gulf Of Suez News

Opinion: Egypt Banks on Renewables to Meet Expected Energy Demand Surge

Photo courtesy: Wärtsilä Energy Business

To meet its soaring demand for energy, Egypt is turning to renewable sources. Its targets, if accomplished, will see it become a pioneer in the African energy landscape. But are the plans realistic?Egypt’s population has now passed 100 million. As one of the most populous and fastest-growing nations on the African continent, providing…

EGPC Leads Oil, Gas Discoveries in Q3 2019

Egyptian General Petroleum Corporation (EGPC) led globally among companies in the third quarter (Q3) 2019 in terms of the highest number of oil and gas discoveries, said GlobalData.Of the total 38 discoveries made worldwide, EGPC had four, all being onshore discoveries. Of these, three were conventional oil discoveries while the remaining was a conventional gas discovery…

BP Exits Alaska in $5.6 Bln Sale

(Image: BP)

British oil major BP Plc on Tuesday agreed to sell all its Alaskan properties for $5.6 billion to privately held Hilcorp Energy Co, exiting a region where it operated for 60 years.The deal, which includes interests in the most prolific oil field in U.S. history at Prudhoe Bay, and the 800-mile (1,300-km) Trans Alaska Pipeline,…

BP Sells Egypt Assets to Dragon Oil

BP chief executive Bob Dudley (Photo: BP)

BP said on Monday it has agreed to sell its interests in Gulf of Suez oil concessions in Egypt to Dubai-based Dragon Oil, as part of the supermajor’s plan to divest more than $10 billion in global assets over the next two years.Under the terms of the deal, Dragon Oil, a wholly-owned subsidiary of the Emirates National Oil Company (ENOC)…

DEA Extends Concessions in Egypt

German oil company DEA Deutsche Erdoel AG has said it has extended its concessions for the Ras Budran and Zeit Bay oil fields in the Gulf of Suez, offshore Egypt. DEA’s General Manager Sameh Sabry signed the new concession agreement. The new agreement extends the concession for five years ending mid-2022. It includes an optional extension of another five years until 2027…

Shell, Eni, Exxon Win Concessions in Egypt

© Tom Carpenter / Adobe Stock

Royal Dutch Shell, Eni, BP and Exxon Mobil were among winners of Egypt's international tender for oil and gas exploration on Tuesday, with 12 concessions awarded in total.It marks Exxon Mobil's entry into gas exploration in Egypt, while Shell was awarded the most concessions in the tender - three for oil and two for gas.Neptune Energy, Merlon, Shell, Eni and state-controlled Egyptian General Petroleum Corpo

Petrobel Contracts Shelf Rig

UAE-headquartered offshore drilling contractor Shelf Drilling has received a contract award for one of its jack-up rigs with Belayim Petroleum Company (Petrobel) for operations in the Gulf of Suez, offshore Egypt.According to a press release from the shallow water offshore drilling contractor,  the Trident 16 jack-up drilling rig…

Egypt Sets Deadlines for O&G Exploration Bids

Egypt has set October 1 and October 8 deadlines for two major international tenders for oil and gas exploration spanning 27 onshore and offshore blocks, the oil ministry said on Tuesday.Bids for 11 blocs offered by the Egyptian General Petroleum Corp (EPGC) must be submitted by October 1, the ministry said in an advertisement published in the state-run al-Ahram newspaper.Companies interested in 16 concessio

Aquaterra Names Hawkes Financial Director

Nick Hawkes (Photo: Aquaterra Energy)

Offshore engineering solutions provider Aquaterra Energy has appointed Nick Hawkes as Financial Director based at the company’s headquarters in Norwich. Hawkes has more than four years’ experience in the oil and gas industry and joins Aquaterra having spent nearly 20 years with Babcock International Group where he latterly held the position as Financial Director for 15 years.

Aquaterra Signs Investment Deal with EV

Photo: Aquaterra

Aquaterra Energy, a  global offshore engineering solutions provider, has secured a multi-million pound investment from EV Private Equity as the company gears up for service expansion and new technology launches. The deal is the first to be agreed following EV’s pledge last year to invest $200 million in North Sea businesses with new technologies and high growth potential.

Sea Swift: New Platform Operational in Egypt

The 385 tonne topside of the Aquaterra Sea Swift being installed. It features a helideck and emergency accommodation with provision for six wells (Photo: Aquaterra Energy)

Global offshore engineering solutions provider Aquaterra Energy has designed, fabricated and installed a new Sea Swift platform for PICO Petroleum Integrated Services, the lead contractor for Amal Petroleum Company’s (AMAPETCO) Amal field in the Gulf of Suez, offshore Egypt. The Sea Swift is a Conductor Supported Platform (CSP) and is installed in 23 meters water depth.

Egypt Accepts Six Bids for O&G Exploration

Egypt has accepted six bids for oil and gas exploration worth a total investment of up to $200 million, the Ministry of Petroleum said on Friday. In May, the General Authority for Petroleum announced an international tender for 11 oil and natural gas blocks in the Western Desert and Gulf of Suez as Egypt looks to boost oil and gas production to meet growing energy demand.

Egypt to Launch New Oil Exploration Round Next Week

Egypt plans to launch a new oil exploration round next week, offering 11 blocks in the Western desert and the Gulf of Suez, Petroleum Minister Tarek al-Molla said on Tuesday. He said that Egypt also plans to launch two gas exploration rounds this year. Egypt, which used to be a net energy exporter, has become a net importer in recent years as consumption has increased while production has fallen.

Radwitz Appointed GM of DEA Egypt

As of February 1st, Dr Thomas Radwitz has been appointed General Manager of the Egyptian subsidiary of DEA Deutsche Erdoel AG. Egypt is one of the core countries for the German upstream company. Dr Thomas Radwitz, who is well experienced in Egypt‘s and the North African upstream industry, succeeds Dr Hans-Hermann Ecke, who has been General Manager of DEA Egypt since March 2015.

Egyptian President Approves $2.2 bln O&G Exploration Contracts

Egypt's president Abdel Fattah al-Sisi approved six new oil and gas exploration contracts for investments worth at least $2.2 billion, the Oil Ministry said in a statement on Tuesday. The agreements include the search for oil and gas in the Mediterranean, Nile Delta, Western Desert and the Gulf of Suez. The deals were initially mooted at an investment conference in Sharm El Sheikh earlier this year.

DEA to Go-ahead with West Nile Delta project

The final agreements to develop the West Nile Delta which will make available 5 trillion cubic feet of gas resources has been signed by DEA Deutsche Erdoel AG. DEA contributes significantly to Egypt’s security of energy supply and this deal is considered being of prime importance for Egypt’s energy sector and is currently the largest project in DEA’s portfolio.

BP To Develop West Nile Delta Gas Fields

BP today signed the final agreements of the West Nile Delta project to develop 5 trillion cubic feet (tcf) of gas resources and 55 million barrels (mmbbls) of condensates with an estimated investment of around $12 billion by BP and its partner. The project underlines BP’s commitment to the Egyptian market and is a vote of confidence in Egypt’s investment climate and economic potential.

Egypt Signs 6 New O&G Exploration Deals

Egypt has signed six new oil and gas exploration contracts worth hundreds of millions of dollars with foreign and Egyptian companies, the oil ministry said on Friday. The agreements provide for the drilling of some 41 discovery wells in the western desert and Gulf of Suez, the ministry said in a statement via the official news agency.

RWE Dea to Expand in Egypt

RWE Dea doubled its oil and gas production in Egypt and drawn up expansion plans. North Africa is a strategic core region for Dea. The company is one of the leading foreign investors in Egypt and produces oil and gas in the country for 30 years by now. RWE Dea is presenting applied technology highlights and recent projects at the MOC 2014 in Alexandria.

Total Wins Egypt Gas Exploration License

French oil company Total has been awarded a licence to explore for natural gas in the Nile Delta, a source in the state-run Egyptian Natural Gas Holding company (EGAS) said on Monday. "France's Total won the bid to explore in Sector 2 in the Delta region," the source told Reuters on condition of anonymity. In December, Egypt's…