Oil & Gas News
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Egypt scores successes in petroleum sector, boom in gas exports: Maat Report
This comes in light of the huge projects implemented by the state in this sector, as the oil sector continues to be a great success.
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Latest news of the Egyptian oil industry
Egypt sees major oil sector growth with new discoveries by Cheiron and investments by Shell and Dragon Oil. Exploration deals valued at $319 M signed.
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Egypt plans to drill 45 exploratory gas wells in Mediterranean, Delta until mid-2025
The Egyptian government announced a plan to drill 45 natural exploratory gas wells in the Mediterranean and the Nile Delta with $1.9 billion.
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TAQA Arabia offers to buy military-owned Wataniya's fuel stations
Egypt energy company TAQA Arabia has submitted a non-binding agreement to acquire fuel stations owned by Wataniya Petroleum.
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Egypt to drill 35 gas wells by 2025 as BP invests
The energy giant pledged $3.5 billion in investment into gas exploration in Egypt over the next three years.
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British oil major BP to invest $3.5 bln in Egypt in 3 years: CEO
The company is also keen to provide scholarships to young Egyptian people to study in major British universities, Looney noted.
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Nigeria, Algeria, and Egypt to dominate Africa’s gas supply market from 2023 to 2027
This is according to data from the African Energy Chamber in its August 2023 State of African Energy report.
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Egypt announces new oil discovery in Gulf of Suez
The new discovery was made by Egypt's Cheiron through exploration well GNN-11, currently producing more than 2,500 barrels a day, the ministry said.
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Oil minister confers with Apache officials on exploration activities in Med. Sea
Molla said Apache has recently achieved many successes as part of a promising program for digging oil wells in the Western Desert.
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Egypt: a leading natural gas producer in the Eastern Mediterranean
Egypt has emerged as Africa's second-largest gas producer with proven reserves of 75.5 trillion cubic feet (tcf) of natural gas.
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Lower natural gas exports widen Egypt's trade deficit by 4.3 percent in May
Egypt's trade deficit grew by 4.3 percent to $3.74 billion in May 2023, compared to $3.57 billion in the same month last year.
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Shell to begin drilling oil exploration wells in Egypt in September
This is part of Shell’s plans to be an energy hub in the region amid the ongoing power cuts for the shortage of gas supply needed for power stations.
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Egypt received its first shipment of mazut
The shipment is the first of the government’s planned imports of Mazut to meet the increasing demand for electricity.
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Emirati Dragon Oil to boost oil production in Egypt by 27% within two months
Dragon Oil will start production within two months from the North Safa field in the Gulf of Suez, with a capacity of 15,000 barrels of oil per day.
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Egypt, a key US ally in the energy war against China and Russia
The Western alliance of the US and Europe fights dependence on Russian gas through its alliances with Cairo.
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Egypt signs 3 oil & gas exploration agreements worth $320 mln
Egypt has signed three new agreements worth $319.5 million to dig 13 wells.
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NSPO acquires 20% share of TAQA Arabia
The National Service Projects Organization (NSPO) has acquired a 20 percent share of TAQA Arabia at LE 1.6 billion.
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Egypt expects Zohr field’s investments to hit $15bln in 3 years
Current investments into the giant offshore natural gas field are estimated at $12 billion so far.
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Egypt aims to resume gas exports by October, minister says
Egypt is targeting a resumption of liquefied natural gas exports by October at the start of autumn, petroleum minister Tarek El Molla told reporters.
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Why are gas and oil discoveries in Egypt so important for the region?
A crucial development has been the announcement of new oil and gas fields discoveries by western companies.