Egypt

Wintershall Dea Divests its Interest in Suez Gulf Concession

As of 1st January 2022, after 38 years of economic and efficient production from the Gulf of Suez, Wintershall Dea is closing this chapter of its long oil production history in Egypt.

Egypt 2021 petroleum exports revenue increase by 84.3% to $12.9 billion

Egyptian petroleum sector export revenue increased by 84.3% to $12.9 billion in 2021, Petroleum Minister Tarek El-Molla told Reuters on Wednesday, as the value of crude oil, natural gas, petroleum products and petrochemicals exports all rose.

Petrobel targets 248k bpd with total investments of $807 mln

Petrobel Chairman, Khaled Mowafi, reviewed the amended budget items for the current fiscal year. He points out that the investments amounted to $842 million to intensify research, exploration and development operations after re-evaluating the already producing areas, as it is planned to drill the exploration well, Al Qar’a South-1, and drill 4 additional wells in the areas of Belayim and Baltim, southwest, in order to maintain and increase production rates.

Netherlands receives first-ever LNG shipment from Egypt

The Netherlands has received its first ever liquefied natural gas (LNG) shipment from Egypt since the beginning of operations at its sole LNG terminal in 2011, Al-Ahram reported on Monday.

TAQA Arabia, Aman establish new company for payments with EGP 300m investment

Medhat Khalil, Chairperson of Raya Holding Company, which owns the Aman Group, revealed the establishment of a new company, 49% owned by TAQA Arabia, one of the Qalaa Group companies, and 51% owned by Aman for non-banking financial services, with the aim of facilitating the acceptance of payments.

EGYPS 2022 begins a year of strategic energy dialogue

​The 5th annual edition of the Egypt Petroleum Show (EGYPS) held under the patronage of His Excellency Abdel Fattah El Sisi, President of the Arab Republic of Egypt and with the support of the Egyptian Ministry of Petroleum and Mineral Resources is taking place from 14 – 16 February.

Energean, INA get gas exploration licence in Egypt

UK-based natural-gas focused energy company Energean said its unit Energean Egypt, in 50:50 consortium with Croatian oil and gas company INA, was awarded an exploration licence in Egypt on January 3.

Egypt signs 2 new E&P agreements worth $506 mln investments

Minister of Petroleum and Mineral Resources, Tarek El Molla, signed two new agreements with the Canadian Transglobe and Pharos Energy companies to search for, develop and produce petroleum in several regions in the eastern and western deserts.