EGPC signs 3 oil and gas exploration agreements worth USD 50 mn - ENTERPRISE / AL BORSA

Sunday, 10 December 2017

The EGPC has signed oil and gas exploration agreements with three international companies worth a combined USD 50 mn, an Oil Ministry official tells Al Borsa. These include a USD 20 mn oil and gas exploration agreement with our friends at Apex International in the West Badr El Din concession in the Western Desert, a USD 10 mn gas exploration agreement with Trident Petroleum for exploration in the Magawish block of the East Esh El Mallaha concession, and a USD 20 mn oil and gas exploration agreement with Apache-Khalda in the Alam El Shawish concession in the Western Desert.

Egypt signs $2.4 mln oil and gas deal with Trident Petroleum - AMWAL AL GHAD

Saturday, 11 November 2017 15:48

Mahmoud Shaaban

Egypt signed Saturday a new oil agreement with Trident Petroleum to explore oil and natural gas in the Gulf of Suez worth at least $2.4 billion worth at least $2.4 million.

The agreement was signed by Egypt’s Petroleum Minister Tarek el-Molla, Egyptian General Petroleum Corporation’s (EGPC) chairman Abed Ezz el-Regal and Trident’s president Ehab Awad.

The agreed investments included a signature bonus of $500,000 to drill four exploration wells in Magawish Block in the Gulf of Suez.

Once an energy exporter, Egypt has turned into a net importer because of declining oil and gas production and increasing consumption. It is trying to speed up production at recent discoveries to fill its energy gap as soon as possible.

UPDATE 1-Egypt government approves five oil and gas exploration deals - REUTERS

Wed Aug 10, 2016 1:51pm GMT

CAIRO Aug 10 (Reuters) - Egypt's government has approved five oil and gas drilling and exploration agreements with foreign companies, Petroleum Minister Tarek El Molla said on Wednesday.

Once an energy exporter, Egypt has turned into a net importer because of declining oil and gas production and increasing consumption. It is trying to speed up production at recent discoveries to fill its energy gap as soon as possible.

Four of the deals are offshore Mediterranean gas exploration and drilling agreements between Egypt's state gas board EGAS and BP, Eni, Total, and Edison.

The fifth deal, which is an oil drilling deal in the Gulf of Suez, is between state petroleum board EGPC and local company Trident Petroleum.

Trident Petroleum signs exploration agreement for Northwest Seabird concession in the Gulf of Suez - ENERGY EGYPT

January 31, 2016

Eng. Tarek El-Molla, Minister of Petroleum and Mineral Resources, signed a new oil and gas exploration agreement in the Gulf of Suez, between Ganoub El Wadi Petroleum Holding Co (Ganope) and Egypt’s Trident Petroleum Company. The exploration agreement for Block 6 Northwest Seabird (Tair al-Bahr) concession in the Gulf of Suez, covering a ​​191 square kilometer area, specifies a minimum investment obligation of $4.5 million, the drilling of six exploratory wells and a signing bonus of $500,000.