An end to flaring? Egyptian oil companies use associated gas for power - ENTERPRISE

Monday, 21 January 2019

Two Egyptian oil companies are bucking the industry trend of flaring associated gas by using it for power generation instead, an Oil Ministry source said, according to Youm7. 

Dana Petroleum-EGPC JV Petro Kareem and Vegas-EGPC JV Petro Amir began a project last March to process gas produced at oil fields either for on-site electricity or for the national grid. Fields operated by the companies produce 55 tonnes of gas and 112 tonnes of condensates, along with 10 mcf/d of gas worth around USD 27 mn. Egypt, which is the 11th biggest gas-flaring country in the world, is a signatory to a global initiative aimed at ending routine gas flaring by 2030.

Lebanon Set to Join East Mediterranean Race for Oil and Gasby - BLOOMBERG

4 January 2017, 3:20pmDana Khraiche

• Cabinet approved two bills setting up rules on tenders, blocks
• ExxonMobil, Chevron among companies qualified to be operators

Lebanon approved two measures allowing it to auction its first offshore oil and natural gas rights, ending three years of delays that kept the tiny country from joining a regional race to tap energy wealth in the eastern Mediterranean.

The newly formed government headed by Prime Minister Saad Hariri passed the two decrees on Wednesday, state-run National News Agency reported, citing Foreign Affairs Minister Gebran Bassil. The decrees demarcate energy blocks, establish production-sharing contracts and specify tender protocols. They take effect with no need for additional approval.

The cabinet formed ministerial committees to study a petroleum tax draft law and another proposed law governing onshore oil resources, Information Minister Melhem Riachi said in a televised news conference. The cabinet also discussed the establishment of a sovereign wealth fund to manage the oil and gas revenue.

Egypt's oil and gas sector rallies - ZAWYA / REUTERS / OXFORD BUSINESS GROUP

06 October, 2016
Reuters/Amr Abdallah Dalsh

Even amid a backdrop of low global commodity prices, new oil and gas discoveries are continuing to drive investment in Egypt's hydrocarbons sector.

27 September 2016

In late August Shell announced that it had discovered 142bn cu metres of natural gas at its Alam El Shawish concession in Egypt’s Western Desert, with the possibility of more reserves to be recovered, representing one of the largest finds in the region in recent years.

This follows another discovery by the Egyptian General Petroleum Corporation last year that could yield 2.2m barrels of oil and nearly 311.5m cu metres of gas in the Abu Sennan area of the Western Desert, which is already responsible for nearly half of Egypt’s total oil production of 723,000 barrels per day.