El-Molla directs EGPC, Ganope, EGAS to intensify oil exploration - DAILY NEWS EGYPT

1 October 2017

Mohamed Adel

Minister of Petroleum Tarek El-Molla directed the Egyptian General Petroleum Corporation (EGPC), South Valley Egyptian Petroleum Holding Company (Ganope), and the Egyptian Natural Gas Holding Company (EGAS) to focus on offering areas for research and drilling for oil in the coming tenders, as to increase production rates and curb reliance on imports.

A source in the sector told Daily News Egypt that EGPC has been tasked with collecting data and information about the untapped concession areas in the Western Desert and the Gulf of Suez.

He explained that Egypt needs to increase crude oil output, having been fixed for several years at an average of 650,000-700,000 barrels, against a growing demand.

Results from Block 11 will determine ENI’s next targets - CYPRUS MAIL

AUGUST 10TH, 2017

Italian energy giant ENI expects the results of exploratory drilling in Cyprus’ offshore Block 11, to determine its next drilling target within the island’s exclusive economic zone (EEZ).

Sources told Cyprus News Agency that ENI was preparing for two drillings, which should be completed by the first quarter of 2018, but the targets had not yet been determined. The company wants first to evaluate the results of drilling by Total /ENI Consortium in Block 11.

The company has applied to secure all permits for drilling for three blocks, 8, 6 and 3 which include an environmental study, the offshore protocol and a licence from the department of labour for the safety of the drilling.

President Sisi underlines importance of developing Egypt’s petroleum sector - ENERGY EGYPT / STATE INFORMATION SERVICE

April 23, 2017

President Abdel Fattah El Sisi highlighted on Thursday 20/04/2017 the importance of developing the petroleum and mineral wealth sector in Egypt, as a cornerstone of national economy.

During a meeting with Prime Minister Sherif Ismail and Petroleum Minister Tarek el-Molla, the president urged attracting more foreign investments in this field.

He also highlighted the necessity of accelerating efforts for starting production of natural gas in recently discovered fields and removing all obstacles facing developers and investors in these fields, Presidential Spokesman Alaa Youssef said.

Energean signs terms for offshore Montenegro blocks - OFFSHORE MAGAZINE

Offshore Montenegro blocks 4219-26 and 4218-30
(Source: Energean Oil & Gas)

03/15/2017

Offshore staff

ATHENS, Greece – Energean Oil & Gas has signed an exploration and production concession contract with the State of Montenegro covering offshore blocks 4219-26 and 4218-30, following parliamentary approval.

Total investment over the initial seven-year exploration period will be $19 million, including funding for a new 3D seismic survey, geophysical and geological studies, and drilling of one well.

The two blocks are in a water depth of 50-100 m (164-328 ft) and close to the Montenegrin coast near the town of Bar. Energean plans to start 3D seismic acquisition during 1Q 2018.

Eni’s offshore drilling gamble looks set to pay off - FINANCIAL TIMES

28.02.2017
Andrew Ward

Position of energy group’s chief is mired in uncertainty because of corruption probeEni chief denies wrongdoing in corruption case

Over a lunch of locally caught Mediterranean seafood, Claudio Descalzi delivers a pep talk to managers around a large dining table in the offices of a petroleum plant near Port Said, Egypt.

“We need to do more, more, more every day,” says the chief executive of Eni, the Italian oil and gas group.

Eni Adopts Unconventional Focus On Conventionals - E&P HART ENERGY

The Saipem 10000 drillship has been used at the Zohr gas field
 offshore Egypt in the Mediterranean Sea.

Tuesday, November 15, 2016 - 12:17pm Mark Thomas

LONDON—Italian major Eni has taken an unconventional approach to the ongoing “lower for longer” industry downturn, achieving outstanding results by focusing on conventional oil and gas.

While many upstream companies have pulled back from conventional offshore exploration and development activity due to traditionally longer project cycles in order to focus on shorter-cycle, faster return unconventional projects, Eni has stuck to what it knows best, according to Luca Bertelli, the company’s chief exploration officer.

Speaking in London on Nov. 15 during the exploration-focused PETEX exhibition and conference, organized by the Petroleum Exploration Society of Great Britain, Bertelli told a crowd that Eni decided “to stay conventional. We did not want to follow the pack, but stay with what we know. We see many opportunities remaining.”

EGPC, Kuwait Energy sign agreement on Iraq's Siba gas field - NATURAL GAS WORLD

October 28th, 2016 8:35amShardul Sharma

Egyptian General Petroleum Corporation has inked an agreement with Kuwait Energy to buy stake in Siba gas field in Iraq’s Basra region, the Egyptian oil ministry said October 26. The field has reserves of 555bn ft³ of natural gas and 37mn barrels of condensate.

The ministry stated that EGPC will have a 15% interest in the field. It expects production to be 70mn ft³/d by 2017 which is likely to rise to 100-150mn ft³/d. Egyptian Petrojet will be the general contractor of the field development project through carrying out all the executive and engineering works of the project at costs of $200mn.

This is the second partnership between the two sides outside Egypt. Kuwait Energy farmed out a10% working interest in Block 9 in southern Iraq to EGPC and now has 60%.

Shell, BP bidding for three E&P blocks in Western Desert and Gulf of Suez - ENERGY EGYPT / ENTERPRISE

October 4, 2016

Royal Dutch Shell and BP are reportedly competing for E&P licenses in three blocks in the Western Desert and the Gulf of Suez as part of a tender by the EGPC, an unnamed source told Al Mal.

Shell has reportedly already sent offers for two blocks in the Western Desert, while BP is bidding for one block in the Gulf of Suez.

Shell plans drilling of 33 wells in BAPETCO concessions in 2016/2017 - 4-TRADERS / ENERGY EGYPT

June 26, 2016

Dutch company Shell targets drilling 33 wells in its concession areas that are operated by Badr El Din Petroleum Company (BAPETCO) during the next fiscal year (FY).

The plan includes 19 wells to develop gas production, 10 wells to inject water into, and 4 wells to explore for gas.

A senior source in the petroleum sector told Daily News Egypt that Shell has reduced the number of wells to explore for gas in its concession areas to four wells in its plan for FY 2016/2017, compared to seven wells during the current FY 2015/2016.

Shell drilled 25 developmental wells, 7 exploratory wells in its concession areas through BAPETCO during the current FY, and tied the production upon completing the drilling process according to the approved plan, he explained.

Tapping into new revenue streams - DAILY NEWS EGYPT

Patrick Allman-Ward, CEO, Dana Gas

Regional giant Dana Gas will commit millions to E&P in the next three years

February 18, 2016

To say the last 12 months have been hard on the hydrocarbons business undersells understatement. The price of a barrel of Brent, which already plummeted from over $100 to under $50 before the end of 2014, has continued to fall throughout the year, languishing at less than $40 as 2015 drew to an end. Natural gas fared little better, with the Million British Thermal Unit (mmBTU) value dropping to less than half its December 2014 peak by November 2015, although prices rallied in the last fortnight of the year.

Despite the state of global energy markets, Dana Gas, the Middle East’s leading privately owned gas company has faith enough in Egypt and the Al-Sisi administration to commit millions in exploration and production (E&P) in the country. Dana is based in the United Arab Emirates, but hasassets in Egypt and the Kurdistan Region of Iraq. Via its subsidiary, Dana Gas Egypt, it holds 100% E&P and development rights on fields in the Nile Delta and has a minority share in an LPG plant on the Gulf of Suez.

SDX Energy Hits Oil Pay in Egypt - E&P

Monday, February 8, 2016

The Al Amir SE 23 (AASE-23) development well in North West Gemsa in Egypt has encountered oil-bearing reservoir sections in the Kareem Rahmi and Shagar formations and will be completed as a producer in the Shagar, according to SDX Energy Inc.

The well was drilled to a depth of 3,018 m (9,900 ft) where both the Shagar and Rahmi oil reservoirs were encountered. Log analysis indicates 7 m (23 ft) of net Shagar oil pay and 9 m (28 ft) of net Rahmi oil pay, the release said. The well has been completed as an oil producer in the Shagar and has flowed on test light 42.2 degree API oil at a rate of 3,860 barrels of oil per day (bbl/d) with 2.55 million standard cubic feet of associated gas per day (MMscf/d).

The well will be placed in production in the coming days as soon as the completion rig has moved off location, the release said.