Abu Sennan Production Reaches 12,347 bbloe/d during H1 - EGYPT OIL & GAS

Tuesday, 29th September 2020

United Oil and Gas (UOG) Company announced that Abu Sennan Concession gross production increased to 12,347 barrels of equivalents per day (bbloe/d) representing net production of 2,716 bbloe/d during H1 2020, according to a statement by the company.

The company added that net the production has reached to 1,709 bbloe/d in the first of March and jumped to a high of 3,142 bbloe/d in early June during the testing of El Salmiyah-5 (ES-5 ) well. Liekwise, the performance of Abu Sennan Concession have achieved exceptional results since the beginning of 2020.

UOG noted that after completion of ES-5 well’s testing program, the well was producing 2,900 barrels of oil per day (bbl/d) and 9 million standard cubic feet (mmscf/d) on a controlled rate at the end of June. Regarding ASH 2 well, its net production reached 660 bbl/d.

Libya says it's yet to approve Total's deal for Marathon assets - WORLD OIL

4/23/2018

SALMA EL WARDANY

CAIRO (Bloomberg) -- French oil giant Total SA said last month it had acquired Marathon Oil Corp.’s assets in Libya in a $450-million deal.

Not so fast, says the country’s state energy company.

Libya’s National Oil Corp. hasn’t yet approved the transaction and is “discussing arrangements” for the proposed sale with the country’s presidency council, Chairman Mustafa Sanalla said Monday. His assertion suggests the purchase -- which would more than double Total’s production in the North African nation -- won’t necessarily proceed as planned.

“Any transaction of this nature must have the approval of NOC and the Libyan authorities,” Sanalla said in a statement. “Any attempt to conclude the sale prior to this approval would be in breach of the concession’s contractual agreement.”

Total didn’t immediately respond to a request for comment.

Dana Gas completes first international condensate sale in Egypt - DANA GAS PJSC

Sharjah, UAE; 26 April 2017

Company set to receive full payment in US dollars for export cargo

Dana Gas PJSC ("Company"), the Middle East's largest regional natural gas company, has today achieved an important milestone with the first international sale of condensate in Egypt under the Gas Production Enhancement Agreement (GPEA).

The first cargo is approximately 150,000 barrels of Wastani condensate and was loaded on 15 April 2017. The buyer has issued a letter of credit and payment amounting US$ 7.2 million will be made to Dana Gas directly in USD. The cargo is the first to be directly exported by Dana Gas under the GPEA signed with the Egyptian government in August 2014. The cash proceeds generated from the Government's share of the incremental condensate sales will be used to start paying-down the outstanding receivables owed to Dana Gas by the Egyptian Government.

Eni discovers gas, condensate offshore Libya - WORLD OIL

4/5/2017

SAN DONATO MILANESE, Milan -- Eni has made a new discovery of gas and condensates offshore Libya in the ‘Gamma Prospect‘, in the Contract Area D, 140 km offshore from Tripoli, in Libya. The discovery, made through the well B1 16/3, is located 15 km south west of the Bouri field and 5 km north of the Bahr Essalam field. The drilling of the Gamma prospect is part of the “near-field” exploration strategy of Eni, targeting opportunities, that in case of success can exploit synergies with existing infrastructures reducing the time to market and providing additional gas to the local market and export.

The well, drilled in 150 m of water depth, reached a total depth of 2,981 m and encountered gas and condensates in the Metlaoui Group of Eocene age. The well has the capacity to deliver, in production configuration, in ecxess of 7,000 boepd and represents a further discovery made by Eni in Libyan offshore Area D, following the discoveries made in 2015.

Egypt's Bapetco produces 500M ft3 of gas daily: Chairman - ZAWYA / AMWAL AL GHAD

09 January, 2017

The total natural gas production of Egypt's Badr El Din Petroleum Company- Bapetco is estimated at around 500 million cubic feet daily, Chairman Emad Hamdy stated Saturday.

Hamdy told Amwal Al Ghad that firm's production of natural gas covers massive part of local market's needs of natural gas.

Bapetco -the local partner of Royal Dutch Shell- raised the total production within the last three years from 98,000 barrels of oil equivalent (BOE) to 140,000 BOE.

SDX Energy buys oil assets in Egypt and Morocco for $30 million - AMWAL AL GHAD

Saturday, 28 January 2017 11:02

London-based Oil and gas explorer SDX Energy has bought Circle Oil's subsidiaries in Egypt and Morocco for about $30 million.

The acquisitions are expected to increase working production by 247% to about 4,705 barrel of oil equivalent per day and its net working interest 2P reserves will grow by 64% to 12.03m barrels of oil equivalent.

The company funded the acquisitions by raising about $40m (32.1 million) from a placing of 107.05 million shares at 30p each, which were admitted to trade on AIM on Friday. An application has also been made for the shares to trade on the TSX Venture Exchange in Canada. The shares represent 57.28% of the company's total issued share capital.

Italy's Eni signs 2 new gas exploration deals with Egypt - AHRAM ONLINE

Tuesday 27 Dec 2016

Italy’s Eni, one of the leading global oil and gas companies, signed on Tuesday two new concession agreements with the Egyptian government for gas exploration in two fields of “North El-Hammad and North Ras El-Esh, located in the shallow waters of the Egyptian Mediterranean Sea,” according to the group’s website.

For the North El-Hammad block, Eni has a stake of 37.5 percent, while the remaining equities are owned by BP and Total, the Italian company said.

However, Eni has a 50 percent participation stake in the North Ras El-Esh block, which is operated by BP with an equity of 50 percent.