Apache to drill 50 new wells in Egypt next fiscal year, EGAS and Eni trying to speed up Zohr production schedule - ENTERPRISE

Sunday, 25 March 2018

Apache is planning on drilling 50 new exploratory wells in Egypt in the coming fiscal year through its Qarun and Khalda Petroleum subsidiaries, both JVs with EGPC, Apache CEO John Christmann said on Thursday, according to a report in state-owned Ahram Gate. Christmann said he expects the sector to “witness a boom” in FY2018-19. Apache’s Khalda had signed a USD 20 mn agreement with the EGPC back in December to begin exploration activities in the Western Desert’s Alam El Shawish concession. Apache and Merlon had also signed USD 79 mn-worth of Western Desert exploration agreements with the Oil Ministry in August last year.

Separately, EGAS and Eni are planning to bring production at Zohr to maximum capacity ahead of schedule. The two companies are working hard to have the supergiant East-Mediterranean gas field pumping out its full capacity of 2.7 bcf/d ahead of its slated end-2019 deadline, sources close to the matter tell Al Shorouk, adding that output from Zohr — which is expected to help Egypt reach natural gas self-sufficiency and become a net exporter of LNG — should also rise to 700 mcf/d, from a current 350 mcf/d, by May instead of June.

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.

Khalda to invest USD 800 mn in drilling in FY 2017-18 - ENTERPRISE / AL MAL / DAILY OIL NEWS

Tuesday, 6 June 2017

Apache JV Khalda Petroleum will invest USD 800 mn in drilling 53 development wells and 38 exploratory wells in FY 2017-18, Al Mal reports. 

Company production is expected to surpass 151,000 bbl/d of crude, condensates, and butane, and 800 mcf/d of gas. 

Khalda will also conduct 3D seismic surveys in West Kalabsha and Khalda-3 concessions.

Khalda makes eight new petroleum discoveries in FY2016/17

The Minister of Petroleum and Mineral Resources, Tarek El Molla, visited Khalda Petroleum’s concessions in the Western Desert, accompanied by the Ministry’s First Undersecretary for Oil and Gas Affairs, First Undersecretary for Agreements and Exploration, the Egyptian General Petroleum Corporation (EGPC)’s CEO and Vice Chairman, the Egyptian National Gas Holding Company (EGAS)’ CEO and Vice Chairman, and Apache’s CEO.

Appointments at Egyptian state petroleum companies - ENTERPRISE / AMAY

Sunday, 2 April 2017

Mohamed Abdel Azim was named president of Khalda Petroleum Company and vice-president at state gas outfit EGAS, AMAY reports.

The appointment was made yesterday (April 1st) by Petroleum Minister Tarek El Molla, who also appointed Sayed Mowafi as a vice-president at Khalda and Alaa Abdel Fattah Al Battal as a vice-president at Agiba Petroleum Company. 

Mahmoud Abdel Fattah was appointed head of Petroshahd, while Ashraf Yahia Al Ameer was appointed head of PetroSannan.

Khalda Petroleum plans to invest $810 million in FY 2017-18 - ENERGY EGYPT / MUBASHER

January 12, 2017

Khalda Petroleum Company said it plans to inject $810 million in investments in the fiscal year 2017 – 2018, said CEO, Mohamed Abdel Azim. “The company plans to drill 33 exploratory wells,” added Abdel Azim.

Earlier, the company said has reduced the cost of oil produced from the Apache concession area in the western desert to $4.5 per barrel in the first quarter of the current fiscal year, down from $5.

Khalda Petroleum reduces cost of oil produced from Apache concession to $4.5/barrel - DAILY NEWS EGYPT

05.12.2016
Mohamed Adel

We saved $155,000 daily on drilling expenses during FY 2015/2016, says Abdel Azim
Khalda Petroleum Company has reduced the cost of oil produced from the Apache concession area in the western desert to $4.5 per barrel in the first quarter of the current fiscal year, down from $5.

Mohamed Abdel Azim, head of the Khalda Petroleum Company, told Daily News Egypt that the company successfully reduced costs by $0.5 per barrel through obtaining discounts on services and equipment contracts used to carry out drilling operations.

He explained that the company saved $155,000 per day on crude oil production costs in the last fiscal year, as the cost per barrel was lowered from $6 in the fiscal year (FY) of 2014/2015 to $5.

Apache to invest $960m in western desert concessions during current fiscal year - DAILY NEWS EGYPT

20.11.2016Mohamed Adel

Ongoing discussion in regards to increasing FY 2017/2018 investments with Apache’s officials, says Abdel Azim
The American Apache Corporation is planning on investing $959.7m for researching, exploring, and developing fields in its concession area in the western desert during the current fiscal year (FY), compared with $796m in FY 2015/2016.

Mohamed Abdel Azim, head of the Khalda Petroleum Company, said in an interview with Daily News Egypt that their foreign partner’s investments will be divided into $552.5m for drilling development wells, $346.4m for implementing the exploration plan, and $62.8m for operating expenses of the concession areas in FY 2016/2017. He explained that there are ongoing discussions with Apache officials in regards to setting a demo plan for FY 2017/2018, to agree on increasing investments to raise oil and natural gas production rates in the western desert, to offset the natural decline of the fields and to work on increasing reserves.

Shell, Apache to complete gas production tests of Apollonia field in June - DAILY NEWS EGYPT

30 wells will be drilled to extract gas from limestone layers in Western Desert
Mohamed Adel, June 12, 2016

Dutch company Shell and American corporation Apache will complete the initial tests for producing gas from limestone layers in the Apollonia field in the Western Desert by the end of June.

A prominent source at the Ministry of Petroleum told Daily News Egypt that the two companies have a plan to drill 30 wells in the Western Desert after the initial production tests are completed.

He added that the limestone layers in the Western Desert contain natural gas and if the results of the tests are positive, new investment opportunities for producing natural gas in unconventional ways would be available.

As linking projects stall, energy companies see production rates fall - ENERGY EGYPT / DAILY NEWS EGYPT

May 11, 2016

Egypt’s average production of natural gas declined to 3.8bn cubic feet per day in 2016 from the rate of 4.4bn cubic feet per day in 2015.

A report published by the Ministry of Petroleum disclosed Egyptian gas fields’ average productivity in 2016, which has significantly decreased due to delays in plans to link gas fields to production sites managed by international companies.

The report pointed out that the Khalda Petroleum Company—a joint venture company between Egyptian General Petroleum Corporation (EGPC) and Apache Corporation—produced an average 850m cubic feet of gas per day, compared to 851 in 2015. The Italian energy company Eni, operating in Egypt through its subsidiary Petrobel, produced an average of 800m cubic feet of gas per day, down from 978m last year.