7 February 2017
The work programme and budget for the Abu Sennan Concession sees the imminent drilling of both an exploration and a development well close to the Al Jahraa and Al Jahraa SE fields (over which a new development lease was awarded in Q4 2016) during the first half of 2017.
The exploration well, Al Jahraa-SE2, which is due to spud in March 2017, will target the AR-C reservoir in the fault block immediately to the south of the Al Jahraa SE field.
Wednesday, 4 January 2017
Receivables due from EGPC to IOCs have dropped to USD 3.5 bn in 2016’s end, down from USD 3.6 bn at the end of September, Oil Minister Tarek El Molla said. The government bought USD 5.4 bn worth of crude and natural gas from IOCs last year and paid USD 5.5 bn, El Molla clarified, according to Al Shorouk. He said the Ministry is gearing up to make another round of payments to IOCs in order to encourage them to increase investments in Egypt.
