Parliament committee approves gas pipeline construction between Egypt, Cyprus - EGYPT INDEPENDENT / AL-MASRY AL-YOUM

January 27, 2019, 1:49 pm

The Energy and Environment Committee of the House of Representatives on Sunday approved a presidential decree on an agreement between Egypt and Cyprus to build a direct natural gas pipeline, which was signed in Nicosia on September 19, 2018.

The agreement aims to facilitate the export of natural gas from Cyprus to Egypt through the establishment and operation of a direct sea pipeline from the exclusive economic zone of Cyprus, to natural gas liquefaction plants in Idku or Damietta in Egypt.

Mohamed Samir, member of the technical bureau of the Petroleum Ministry, said during the committee’s meeting that the ministry is working in full swing to turn Egypt into a regional center for natural gas trading.

Samir added that negotiations for the agreement lasted three years, and will encourage investors as it marks the beginning of further contracts and agreements to neighboring countries.

Head of the committee Talat al-Sewedy said that the agreement is very important as Cyprus is a gate for Egypt to export gas to EU countries.

Interview: President of Cyprus on Sisi, gas deal, Turkey and Syria - EGYPT INDEPENDENT

December 10, 2018, 2:24 pm
Gamaa Hamduillah

This edited interview of President Nicos Anastasiades, of the Republic of Cyprus, was originally authored by Gamaa Hamduillah and Fady Francis, and published by Egyptian newspaper Al-Masry Al-Youm on Friday, December 7, 2018.

Al-Masry Al-Youm: After the 30 June Revolution, and President Abdel-Fattah al-Sisi’s 2014 rise to power in Egypt, the past four years witnessed a great development of Egyptian-Cypriot relations, in all fields and departments. How do you see the future of relations between Egypt and Cyprus, during President Sisi’s second term?

President Anastasiades: Bilateral relations between Cyprus and Egypt are at their highest point ever, and this reflects our readiness to further broaden our ties in the future, and reach the full potential of our partnership, including engaging the private sector. It is always with great pleasure that I meet President Sisi, and I look forward to continuing close work together, with the common aim of promoting peace, stability and prosperity in our region.

Egypt, Greece, Cyprus FMs hold talks in Cairo - EGYPT INDEPENDENT / AL-MASRY AL-YOUM

September 15, 2018 // 12:44 pm

Cypriot Foreign Minister Nikos Christodoulides and Greek Foreign Greek Foreign Minister Nikos Kotzias arrived in Cairo on Friday afternoon to meet Egyptian Foreign Minister Sameh Shoukry for three-way talks.

Noor reserves will rank among the largest gas fields: Eni - EGYPT INDEPENDENT / AL MASRY AL YOUM

June 24, 2018
1:33 pm

Sources from the Ministry of Oil said on Saturday that the ministry has discussed new exploration plans for the Noor gas field in the Shorok concession area of the Mediterranean Sea with the Italian multinational company Eni which sees it ranked among the largest gas fields worldwide.

According to sources, the Noor field reserves are expected to reach over 90 trillion cubic feet, three times that of the Zohr Field reserves (TEKMOR Note: Not confirmed yet via a second source).

Eni’s CEO Claudio Descalzi held a meeting with Minister of Oil Tarek al-Mula on Saturday, and said that his company has allocated 70 percent of its global investments to Egypt.

Descalzi added Eni has injected $8.4 billion in the Nawras and Zohr gas fields in Egypt, and that Eni will inject a further $3 billion.

Oil expert Ahmed Abdel Halim told Al-Masry Al-Youm that the large amount of Eni’s investments going towards gas explorations in Egypt indicates the massive explorations carried out by the company.

Nooros field’s 13th well comes online, adding 90 mcf/d of production - ENTERPRISE

Wednesday, 14 March 2018

The 13th well of the Nooros gas field has come online, bringing an additional 90 mcf/d to the national grid. This would bring the field’s total production to 1.15 bcf/d, according to a report by Eni and EGPC JV Belayim Petroleum Company (Petrobel), Al Masry Al Youm reports. 

The field’s 14th well is underway, which is expected to raise total production capacity to 1.2 bcf/d.

EGAS to issue bid round in 1H2018 - ENTERPRISE

Wednesday, 24 January 2018

EGAS is planning on having a bid round for oil and gas exploration in east Mediterranean and onshore Delta blocks in 1H2018, Chairman Osama El Bakly said, according to Al Masry Al Youm. 

EGAS will also move ahead with its seismic mapping of blocks in west Mediterranean before setting them up for a bid round.

Oil Ministry to issue oil and gas exploration tenders for Red Sea concessions soon - ENTERPRISE

Tuesday, 2 January 2018

The Oil Ministry is preparing to sign 12 new oil agreements with a combined investment value of at least USD 433 mn, Minister Tarek El Molla said yesterday, Al Masry Al Youm reports. 

The ministry is also gearing up to issue the first international tenders for oil and gas exploration along Egypt’s Red Sea border with Saudi Arabia. 

The tenders are contingent on geological scans in the area, which industry sources had previously said should be complete sometime in 1H2018.

Noble Enegry discussing pipeline from Aphrodite to Egyptian LNG plants / AL MASRY AL YOUM

Sunday, 10 December 2017

It looks like Noble Energy is trying to make a play for the potential gas pipeline linking Cyprus’ offshore gas fields to Egypt’s processing facilities, Al Masry Al Youm reports. The group’s senior Vice President of the Eastern Mediterranean area Keith Elliott met with Oil Minister Tarek El Molla to discuss this and other potential energy projects on Saturday.

Oil Minister invites Bechtel to bid on a number of key energy projects - ENTERPRISE

Tuesday, 24 October 2017

Oil Minister Tarek El Molla invited Global engineering and construction giant Bechtel to participate in some of the biggest energy projects taking place in the country, Al Masry Al Youm reports.

The MOPCO and Ethydco refining complexes, as well as a number of oil and gas finds, were among the projects El Molla pitched to CEO Brendan Bechtel in a Monday meeting.

Egypt signs 3 contracts for oil and gas exploration worth $79 million - EGYPT INDEPENDENT / AL MASRY AL YOUM

August 26, 2017, 4:25 pm

Minister of Petroleum and Mineral Resources, Tariq Al-Mulla, signed three new agreements for oil and gas exploration in the Western Desert of Egypt with the Egyptian General Petroleum Corporation and the American companies Apache and Merlon, with a minimum investment of about $79 million, a statement from the ministry said on Saturday.

The first and second agreements were signed with Apache in the concession area northwest of Razak in the Western Desert with investments of about $61 million, and the concession area south of al-Shawish in the Western Desert with investments of $12 million, while the third agreement with Merlon Company in the Fayoum concession in Western Desert with investments of about $6 million.

Official denies Egypt imports LNG from Qatar - EGYPT INDEPENDENT / AL-MASRY AL-YOUM

July 28, 2017, 4:30 pm

An official source from the Ministry of Petroleum has said that Egypt has never directly imported natural gas from Qatar, except under former president Mohamed Morsi’s rule.

The source denied rumors that Qatar suspended shipments of liquefied natural gas (LNG) to Egypt following political tension between the two countries.

“Egypt imports gas shipments from global tenders and then contracts with international suppliers, regardless of their nationality,” said the source.

Egypt’s Gas Holding Company has concluded the 2017 contracts for all LNG shipments, according to the source.

Shell wins E&P tender in North Um Baraka concession - ENTERPRISE / AL BORSA / AL MASRY AL YOUM

Thursday, 22 June 2017

Shell won exploration rights in the North Um Baraka concession in the Western Desert, Oil Minister Tarek El Molla announced yesterday, Al Borsa reports. No details were provided on the expected investment value. 

El Molla, Shell VP Sami Iskander, and Shell Egypt Managing Director Gasser Hanter also met yesterday discussed drilling new wells in its concessions, Al Masry Al Youm reports, providing little detail. The Shell officials said their company is moving to increase production from its concessions in the Western Desert and in the Mediterranean.

El Molla confirms acceleration of West Nile Delta Phase 2 - ENERGY EGYPT / ENTERPRISE / AL MASRY AL YOUM

June 14, 2017

The Petroleum Ministry is committed to start production from phase two of BP’s West Nile Delta (WND) concession ahead of the 2019 scheduled date, Petroleum Minister Tarek El Molla said, according to Al Masry Al Youm.

BP wants to bring the development’s Fayoum and Giza fields on stream end of 2018, with a daily production of 400 mcf, Regional President for North Africa Hesham Mekawi said. Production at Raven field should begin in 2019 at 350 mcf/d, he added. BP’s Taurus and Libra fields in the WND’s phase one had come onstream last month, eight months ahead of schedule.

Petrojet completes constructing deepwater facilities on Zohr ahead of schedule - ENTERPRISE / AL MASRY AL YOUM

Monday, 12 June 2017

Petrojet has completed the construction of deepwater facilities on the Zohr gas field one month ahead of schedule, Al Masry Al Youm reports. 

Petrojet had also announced earlier this month that it completed construction on offshore platform for the gas field four months before it was due.

Gov’t signs-off on USD 500 mn Sonker investment - ENTERPRISE / AL MASRY AL YOUM

 Sunday, 7 May 2017

The government signed an agreement activating the financing of Sonker’s liquid bulk terminal in Ain Sokhna, Al Masry Al Youm reported. 

Sonker is investing USD 500 mn to construct and operate a bulk-liquids terminal for the import and storage of gasoil and LPG in the third basin of Ain Sokhna Port. 

USD 320 mn of the project’s cost is being financed by IFC, EBRD and CIB. 

Amiral is providing the rest of the financing.

Iraqi crude oil to arrive in Egypt within 2 weeks - EGYPT INDEPENDENT / AL MASRY - AL YOUM

Sat, 06/05/2017 - 12:08

An official source with the Ministry of Petroleum said that the Iraqi shipment of Basra crude oil, which began shipping operations in Iraqi ports on Thursday, will arrive in Egypt within two weeks.

The source added, in statements to Al-Masry Al-Youm, that the Iraqi side stressed that the shipments which will arrive at the port of Ain Sukhna amount to about 2 million barrels during this period.

The high-level source added that the agreement with Iraq was not a substitute for the agreement with Saudi Aramco, which resumed shipments of petroleum products to Egypt last month, after it had been suspended during the last period.

Swiss court obliges Egypt to pay $2 bln to Israel over suspension of gas exports - EGYPT INDEPENDENT / AL MASRY AL YOUM

Sun, 30/04/2017 - 13:27
Taha Sakr

A Swiss court ordered Egypt to pay $2 billion on Friday to a state-run Israeli electricity company as compensation for suspended gas shipments due to frequent attacks on pipelines in the Sinai Peninsula which deliver gas from Egypt to Israel.

According to a message from the Israeli firm to Bloomberg news agency, both the state-run Egyptian General Authority for Oil and the Egyptian Natural Gas Holding Company (EGAS) were assigned to pay the fine.

"Both companies should bear the responsibility for damages caused due to frequent attacks on pipelines that pass through the Sinai to Israel," the electricity company's message read.

Energy spending will total USD 75 bn for the next four years - ENTERPRISE

Wednesday, 26 April 2017

Egypt will need USD 75 bn to develop its energy sector between 2018 and 2022, according to the development strategies of both the Electricity and Oil ministries. USD 45 bn will need to be spent on developing the electricity sector, with a long term plan to generate 51.7 GW by 2030. 

From the looks of the plan — formulated by consultancy firm SOFRECO — most of that spending will be geared towards building up capacity of coal power, whose spending will reach USD 38.6 bn until 2030, Electricity Minister Mohamed Shaker tells Al Borsa. 

Petroleum Minister meets with Sinopec head, Apache VP - ENTERPRISE / AL MASRY AL YOUM

Tuesday, 21 February 2017

Petroleum Minister Tarek El Molla met with the head of China’s state-owned Sinopec, Wang Yupu, who said his company is mulling a petrochemical project in the Suez Canal Economic Zone, Al Masry Al Youm reports. Also present at the meeting was the vice president of Apache, which previously sold a one-third stake in its Egyptian oil and gas assets to the Chinese company in a USD 3.1 bn transaction. China’s ambassador to Egypt also attended.

Bapetco increases Obayed field production to 140k boepd - ENTERPRISE

Thursday, 9 February 2017

Production from the Obayed natural gas field in the Western Desert increased to140k boepd the Oil Ministry told Al Masry Al Youm.

Natural gas production increased to 515 mcf/d and crude and condensates output to 47.4k b/d.

The Obayed field is operated by Royal Dutch Shell JV Bapetco.