Ganope Discovers Three Oil Wells in FY 2019/20 - EGYPT OIL & GAS

Thursday, 19th September 2019

Ganoub El Wadi Petroleum Holding Company (Ganope) achieved three new oil discoveries at its oil fields, two of which were brought online at the oil fields of Eish AL Mallaha and Petro Mallaha during Fiscal Year (FY) 2019/20, a press release by the Ministry of Petroleum and Mineral Resources pointed out.

The three wells are being evaluated with investments reaching $20 million. The PGC had completed drilling the first well at the end of August. Still under evaluation, the third one, located at the Suez Gulf area and operated by Petrogulf Corporation (PGC) is the biggest of all.

Such statements came during a meeting between the Ganope Head Mohamed Abdel Azzim and Minister of Petroleum and Mineral Resources, Tarek El Molla, in the attendance of Aswan governor, Ahmad Ibrahim.

El Molla confirmed during the meeting that the coming period will witness an intensive activity in the research, Exploration and Production (E&P) in the Red Sea after International Oil Companies (IOCs) offers had been submitted and evaluated. This will be the first global bid for research and exploration for oil and gas in this region, which opens new horizons to attract more investments and achieve new discoveries.

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.