Sisi authorizes Oil Minister to sign contracts with DEA Suez GMBH Group - EGYPT INDEPENDENT

May 8, 2019, 3:01 pm

Egypt’s President Abdel Fattah al-Sisi authorized Minister of Petroleum and Mineral Resources Tarek al-Mula to sign contracts with the Egyptian General Petroleum Corporation and the German DEA Suez GMBH Group according to law no.9 of 2019.

According to the expected contracts, DEA Suez will explore, develop and take advantage of oil in the Ras Badran and Gulf of Oil development areas in the Gulf of Suez.

Egypt’s Minister of Petroleum and Mineral Wealth Tarek al-Molla signed an agreement in March with DEA for oil and gas exploration in the Gulf of Suez’s Ras Badran and Ziet Bay areas with investments totaling US$20 million.

Molla said in a statement that DEA will undertake drilling activities and the operation and maintenance of the liquefied Natural Gas (LNG) extraction plant in the Gulf of Suez area.

He mentioned that the ministry has been cooperating with DEA for more than 45 years to achieve higher oil and LNG production rates in areas of the Gulf of Suez, the Delta and the Mediterranean Sea.

DEA General Manager Sameh Sabry said that the company injected US$800 million for oil and LNG exploration in the Gulf of Suez, Desouk and North Alexandria’s fields during 2017 and 2018, adding that it would possibly inject another US$700 million in the coming three years.

DEA Suez GmbH operates in the field of exploration and production of natural gas and crude oil. The Company deploys state-of-the-art drilling and production technologies. DEA Suez conducts business worldwide.

SOURCE

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 signs two new oil drilling agreements - EGYPT INDEPENDENT

September 16, 2018 / 6:56 pmHend El-Behary

The Ministry of Petroleum and Mineral Resources has signed two new oil and gas exploration agreements to explore two deep water areas at the Mediterranean Sea and Western Sahara with Canadian, British, Dutch, Malaysian and Kuwaiti companies, for a minimum investment of more than US $ 1 billion.

The first agreement is with the Egyptian Petroleum Authority, Shell International and Malaysia’s Petronas companies in the deep West Delta maritime region at the Mediterranean, with investments of about $ 1 billion to begin drilling eight new wells.

The second agreement is with the Petroleum Authority, the Kuwaiti energy companies, the Canadian Dover and Rockhopper to explore the Western Sahara with investments of $10 million and a $2 million signing grant to drill four wells.

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.

Egypt welcomes natural gas from all countries: PM - EGYPT INDEPENDENT

February 24, 2018, 12:50 pm

Edited translation from Al-Masry Al-Youm

Prime Minister Sherif Ismail said on Friday that Egypt welcomes any quantities of natural gas from any country for processing in the country’s liquefaction plants.

During a press conference, Ismail said that the natural gas agreement involving Israeli and Egyptian companies is a deal between private sector companies, not governments, but it nevertheless highlights Egypt’s pivotal role in the energy sector and its new role in the region.

He pointed out that the Turkish “harassment” of gas explorers in the Mediterranean Sea has been going on for a long period, saying that, with new gas discoveries, he expects conflicts to impose additional strain in relations between various regional countries.

He added that Egypt is currently working to receive natural gas from Cyprus.

Cyprus to Egypt gas pipeline deal to be signed: Petroleum Minister - EGYPT INDEPENDENT

President N. Anastasiades, President A.F. el-Sisi, PM A. Tsipras 

February 23, 2018 3:09 pm
Farah Tawfeek

Minister of Petroleum Tarek al-Mulla declared that before mid-2018, there will be a signing of an agreement with the European Union (EU) to build a Cyprus-to-Egypt gas pipeline, saying that the EU will be the main beneficiary of the energy produced.

During his participation in the ‘Petroleum Week’ conference in London, the minister announced that a preliminary agreement with Cyprus’s government has been signed to have a pipeline running from Cyprus to Egypt, and that further negotiations are underway between governments. Moreover, Egypt and Greece will be working closely in the fields of petroleum and gas through several agreements.

He also emphasized the close cooperation with Egypt, Jordan, and Iraq in the same field, announcing that Egypt has entered an agreement with Jordan and Iraq to transport crude oil and gas from Iraq, through Jordan, to Egypt.

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.

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.

Egypt to import 1 million barrels of crude oil a month from Iraq - EGYPT INDEPENDENT / REUTERS

Lukoil logo In West Qurna oilfield, Basra, Iraq, March 29, 2014.

Wed, 12/04/2017 - 15:11

The Cabinet has agreed to import one million barrels of Iraqi oil a month, Minister of Petroleum Tareq el-Molla announced.

The contract for the deal will be signed within days, he added in a press conference on Tuesday at the Cabinet headquarters.

Molla expectes the first shipment to reach Egypt on May 1. The ship capacity is up to two million barrels. A total of 12 shipments will reach Egypt a year, he added.

Oil prices fall as Libya's output rebound boosts supply - EGYPT INDEPENDENT / REUTERS

Tue, 04/04/2017 - 10:32

Oil prices fell on Tuesday as a rebound in Libyan crude production combined with an increase in US drilling to signal the potential for increased supply.

Benchmark Brent crude oil LCOc1 was down 20 cents at US$52.92 a barrel by 0735 GMT. US light crude oil CLc1 was 20 cents lower at US$50.04 a barrel.

Both benchmarks recovered from four-month lows last week on expectations that the Organization of the Petroleum Exporting Countries would manage to tighten supply by cutting production under a deal agreed at the end of last year.

Iraq to supply Egypt with 1 million barrels monthly: ambassador - EGYPT INDEPENDENT / REUTERS

Thu, 23/02/2017 - 05:00

The Iraqi Oil Marketing Company SOMO has signed a contract for oil exports with the Egyptian government, al-Ahram quoted Iraqi ambassador to Cairo Habib Mohamed Hady al-Sadr as saying on Thursday.

The company forwarded the contract to the Petroleum Ministry for final approval, he added.

Sadr told al-Ahram newspaper that the first batch of oil, estimated at 1 million barrels, will be handed over to Egypt in the last 10 days of March 2018.

Egypt, Iraq and Jordan are preparing for a major strategic joint energy project, he added. The three countries will extend oil and natural gas pipelines from Basra oil fields through Aqaba port in Jordan to Egypt.

Oil pipeline agreement with Iraq, Jordan should be implemented: former minister - EGYPT INDEPENDENT

Sat, 12/03/2016, Al-Masry Al-Youm

Former Petroleum Minister Osama Kamal has praised plans to build a two-way oil pipeline linking Egypt to Iraq via Jordan, carrying high-quality Iraqi crude to Egypt's refineries.

During an interview on al-Ghad television news channel on Thursday evening, Kamal said that the project, which is still under discussion, would give Egypt access to Iraqi crude, which is among the best in the world.

Late last year, a memorandum of understanding was signed between Iraq, Egypt and Jordan to construct the pipeline, and further discussions were held on Thursday between the oil ministers of the three nations.

The deal would include pumping 1 million barrels per month of Iraqi crude oil through the pipeline, according to Kamal. He pointed out that Iraq's crude oil production is up to 5 million barrels a month, most of which is exported.

Jordan's NEPCO says LNG import terminal back at full capacity | Egypt Independent

Jordan's National Electric Power Company (NEPCO) said its floating liquefied natural import terminal was back working at full capacity after adverse weather disrupted operations earlier this month.

NEPCO declared force majeure on the terminal on Dec. 5 due to strong winds requiring the floating, storage and regasification unit (FSRU) to be moved away from the jetty, a spokeswoman for the company said.

At the time, the firm also informed state-run Egyptian Natural Gas Holding Co (EGAS) that it could not meet its agreement to deliver volumes transported from its FSRU through the pipeline to Egypt.

Gas supplies to both Jordan and Egypt were disrupted for a few days before the plant initially resumed operation at half capacity, and then finally full capacity, the spokesperson said. 


Source / Reuters

Offshore platform to produce 150 million cubic feet of gas per day by 2016 | Egypt Independent

Offshore platform to produce 150 million cubic feet of gas per day by 2016

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Wed, 23/07/2014 - 14:48

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Hossam Fadl

   

Al-Masry Al-Youm

The Petroleum Ministry said on Tuesday that the Italian company Edison began a new project in Egypt to produce natural gas from an offshore platform in the Mediterranean in coordination with its joint venture Abu Qir Petroleum (AQP) at an investment of US$220 million.

“The project produces 150 million cubic feet of gas per day and 2,500 barrels of condensate,” said AQP President Adel Hegazy, explaining that the project includes nine wells of which three have already been drilled and tested. “Production is projected for 2016.”

 

He added that AQP already produces 242 million cubic feet of gas per day, 4,200 barrels of condensate and 276 tons of butane gas.

 

“Edison trusts the Egyptian market potential,” he said.

 

The Petroleum Authority has been buying gas from Edison since June 2012 for US$5.88 per million BTUs, a price linked to the price of the Brent crude.

 

Edison has explorations in Abu Qir and the Rayan Valley in the Western Desert.

 

 

Edited translation from Al-Masry Al-Youm

Link to source: http://www.egyptindependent.com//news/offshore-platform-produce-150-million-cubic-feet-gas-day-2016