Wood celebrates new partnership with ENPPI in Egypt - WOOD

London, UK, 01 October 2018

The British Ambassador in Egypt Sir Geoffrey Adams and His Excellency Minister of Petroleum Eng. Tarek El Molla celebrated a new signed subsea agreement between Egyptian Petroleum Company ENPPI and British company Wood. Both companies have been working together for the past two years on the Burullus project, providing subsea engineering and operations support services through an ENPPI/Wood Consortium Agreement.

The new agreement was signed by ENPPI Chairman Eng. Alaa Hegazy and Wood Technical Director Engineering Colin McKinnon. Together, both companies will continue to draw on a huge pool of talent and experience globally to provide the best independent technical solution for oil and gas projects as well as enable and facilitate subsea technology transfer and training through projects and training courses.

British Ambassador to Egypt Sir Geoffrey Adams said: “Today we celebrate a new chapter in the Egyptian- British partnership which brings together Egyptian talent and British expertise. New partnerships are the stepping stones for shared knowledge and benefit, new job opportunities for all Egyptians and fast track delivery for mutual economic success.”

Shell, Petronas to begin work on Borollos gas field 9B in 4Q2017 after delays - ENTERPRISE / AL SHOROUK

Wednesday, 19 July 2017

Royal Dutch Shell and Malaysia’s Petronas will begin work on phase 9B of the Borollos gas field in 4Q2017, after having suspended work last year over pricing disagreements with the government, Oil Minister Tarek El Molla said, according to Al Shorouk. 

The two sides eventually reached an agreement, but work on the field later stalled again as the state fell behind on payments to Shell and BG. 

The USD 950 mn project will produce between 350 and 400 mcf/d once operational.

AllSource Analysis: Shell’s Idku LNG Ramps Up Exports - ENERGY EGYPT

July 15, 2017

The liquefaction terminals at Idku represent the only currently operating facilities in Egypt for the export of LNG. Since fall 2016, Egypt’s Petroleum Ministry and Shell, the operator of the facility, have agreed to increase the number of LNG cargo ships (hereafter “cargoes”) leaving Idku, which has been at extremely low levels for the past three years. Setting a target of 22 shipments for 2017, it is hoped that the facility can export enough to balance expenses and revenues. Imagery analysis confirms 4 cargoes leaving the port so far in 2017, illustrating tentative progress towards the goal, as well as beginning to pay down outstanding debts to Shell. The target of 22 shipments in 2017 will likely be revised upwards in 2018 and 2019 as the terminal approaches maximum output by 2020 to coincide with the massive Zohr field coming online and changing the Egyptian gas landscape entirely.

Shell offers Rosetta concession for sale - DAILY NEWS EGYPT

Tuesday December 20, 2016

Mohamed Adel

The government owes Shell $1.3bn for their share of the gas field, says source

The Dutch Shell Company has offered the Rosetta concession in Rashid for sale to any foreign company.

A source close to the company told Daily News Egypt that Shell decided not to carry out any development operations in Rosetta. “Development will be expensive with almost no economic feasibility, considering the price of gas produced there,” he explained.

He said the Rosetta field currently produces 40 million cubic feet of gas per day and will stop producing by July as the natural decay of productivity is not offset by development.

3 gas shipments exported through Idku plant by Shell since September - DAILY NEWS EGYPT

14.12.2016, 02:00
Mohamed Adel

Supply from Burullus fields gradually being increased to 250m feet of gas

The Dutch oil company Shell has exported three liquefied gas shipments to international markets through its Idku plant for liquefaction since September, after it obtained 200m cubic feet of gas per day from production at the Burullus fields.

A senior source at the petroleum sector told Daily News Egypt that Shell targets to export liquefied gas shipments every 20 days according to Idku’s (EDCO) current supply rates.

Shell agreed with the Ministry of Petroleum on gradually increasing quantities specified for export to 250m cubic feet per day, to achieve a return that will help the company to repay loans due in instalments.

Production from Rosetta gas field to cease in July - DAILY NEWS EGYPT

December 11, 2016
Mohamed Adel
The company refused to pay for developments to offset the natural decline in production

The daily production of 40bn cubic feet of gas from the Rosetta field in Shell’s Rashid concession area will cease in July 2017, as the company refuses to pay for field development to offset the natural decline in production while dues owed by Egyptian government continue to accumulate.

A senior source at the Egyptian Natural Gas Holding Company (EGAS) told Daily News Egypt that development of Rosetta gas field requires huge funds but lacks economic feasibility to the foreign partner based on the current price of the gas produced from there.

BP acquired the Rosetta gas treatment plant in Rashid from Shell for $128m and received the field in April, then began preparing to link production of Fayoum and Giza fields to it.

Shell to boost deepwater investments, but is owed substantially by government - ENERGY EGYPT / ENTERPRISE PRESS

November 20, 2016

Shell will be increasing exploration and drilling at its deepwater concessions in Burullus and Rosetta concessions, according to statements by Aidan Murphy, Shell Egypt VP and country chairman.

The company plans to expand its investments there following promising data on the size of the concessions. Murphy also stated that the company is owed a substantial sum by the government, Al Shorouk reports, possibly tying these future investments to the government’s ability to payback its arrears.

Shell cuts Borollos, Rasheed investments to $158.9m in operating expenses - DAILY NEWS EGYPT

Daily decline rate 10m feet of gas at the company’s concession and there’s no production increase
Saturday October 8, 2016, Mohamed Adel 

Royal Dutch Shell reduced its investments for the current fiscal year (FY) in Borollos and Rasheed concessions to only $158.9m for maintenance and operating expenses.

A source within the petroleum sector told Daily News Egypt that the company allocated operating expenses valued at $96.7m to Borollos fields and $38m for periodical maintenance to the wells.

The source added that Shell allocated $22.7m for the operating expenses of Rosita field in Rasheed’s concession, and $1.4m for maintenance operations. There has been no increases in the performance of the natural gas production rates.

The source noted that Borollos and Rasheed fields’ production declines on a daily basis by 10m feet of gas.