Egypt's oil minister makes rare trip to Iran for oil talks after Saudi suspension - REUTERS

Tarek El Molla, Egypt's Minister of Petroleum and Mineral Resources
in Nicosia, Cyprus August 31, 2016. REUTERS/Yiannis Kourtoglou

Sun Nov 6, 2016 | 4:25pm ESTWriting by Eric Knecht; Editing by Ahmed Aboulenein and Louise Ireland

Egyptian Petroleum Minister Tarek El Molla was on his way to Iran on Sunday to try to strike new oil deals, sources close to his delegation said at Cairo airport, after Saudi Arabia suspended its oil agreement last month.

After that suspension, Egypt voted in favor of a Russian-backed U.N. resolution on Syria in October that excluded calls to stop bombing Aleppo, which Saudi Arabia strongly opposed.

Saudi Arabia has showered Egypt with billions of dollars in aid since 2013, when President Abdel Fattah al-Sisi ousted elected Mohammed Mursi of the Muslim Brotherhood and banned the Islamist movement, which Riyadh opposes.

EGPC, Kuwait Energy sign agreement on Iraq's Siba gas field - NATURAL GAS WORLD

October 28th, 2016 8:35amShardul Sharma

Egyptian General Petroleum Corporation has inked an agreement with Kuwait Energy to buy stake in Siba gas field in Iraq’s Basra region, the Egyptian oil ministry said October 26. The field has reserves of 555bn ft³ of natural gas and 37mn barrels of condensate.

The ministry stated that EGPC will have a 15% interest in the field. It expects production to be 70mn ft³/d by 2017 which is likely to rise to 100-150mn ft³/d. Egyptian Petrojet will be the general contractor of the field development project through carrying out all the executive and engineering works of the project at costs of $200mn.

This is the second partnership between the two sides outside Egypt. Kuwait Energy farmed out a10% working interest in Block 9 in southern Iraq to EGPC and now has 60%.

Kuwait Energy starts production from Egypt's Al-Jahra SE-1X oil well - KUWAIT NEWS AGENCY (KUNA)

05/09/2016 

By Osama Jalal

KUWAI, Sept 5 (KUNA) -- Kuwait Energy plc (Kuwait Energy) announced on Monday the commencement of production from the Al-Jahra SE-1X exploration well in the Abu Sennan concession located in Egypt's Western Desert.

After discovery of the well on 27 July 2016, Kuwait Energy obtained the development lease from the Egyptian Petroleum Corporation (EGPC) for Al-Jahra SE-1X on 24 August and commenced production a day later, at an initial rate of 460 barrels of oil per day (bopd).

The well is producing at a 2" inch choke size and production has stabilized to a daily average rate of 410 bopd, Sara Akbar, CEO of Kuwait Energy told KUNA.

ENAP Sipetrol to complete $22m Western Desert pipeline next June - ENERGY EGYPT / AL BORSA NEWS

February 28, 2016

Chilean ENAP Sipetrol, the foreign JV partner in Egyptian Petroleum Sector subsidiary Petroshahd, plans to complete the construction of a 90 km pipeline in the Western Desert by next June at a cost of $22 million.

Eng. Sayed Rezk, ENAP Sipetrol’s General Manager, said that the company has completed 80% of the pipeline’s construction work, with the remaining work to be completed by next June according to the agreement with Qarun Company.

Eng. Rezk added that ENAP Sipetrol will start a development program of gas fields during the year with an initial investment of $15 million and to be increased later on through cooperation with Kuwait Energy Company. Eng. Rezk that the company plans to inject new investments worth $80 million through the end of next year to participate in gas fields development projects.