Egypt

News
June 02, 2022
African hydrocarbon producing countries are increasing oil and gas licensing rounds to be able to stabilize supply of hydrocarbons in years to come to meet growing energy demand as output in legacy projects declines.
News
May 09, 2022
Apex International Energy announced the Fajr-8 development well was tested at a daily rate of 2,440 barrels of oil and negligible water.
News
April 13, 2022
Eni SpA signed a framework agreement to boost flows of liquefied natural gas from Egypt to Italy, as European nations step up efforts to wean themselves off Russian energy in the wake of Moscow’s attack on Ukraine.
Article
February 2022
Every region will post an increase, led by the Middle East, the Americas, Africa and the FSU. Offshore activity will grow at about the same pace as onshore drilling.
News
December 27, 2021
APA Corp. and its Chinese partner in an Egyptian oil project will recover almost $900 million in prior investments under a new drilling contract with the North African nation. APA was the day’s best performer in the S&P 500 Index.
Article
September 2021
Offshore resurgence underway
News
June 03, 2021
Whichever company wins would partner with Egypt’s sovereign wealth fund in taking joint full ownership of Wataniya Petroleum, a fuel distribution firm that has more than 200 filling stations and is run by the North African nation’s military.
News
April 05, 2021
Imports jumped 5.8% in March from a year earlier, the biggest increase since March 2020. Demand for the fuel used in heating and power generation had been steadily growing before Covid-19, as nations shift away from coal-fired power over climate concerns.
News
March 29, 2021
The Ever Given is now fully afloat, the Suez Canal Authority said in a statement. Tug boats hauled the giant vessel away from the side of the waterway, where it had been lodged since last Tuesday.
News
March 25, 2021
While the Suez blockage is complicating trade, a long-term realignment of global crude flows has seen westbound shipments from Persian Gulf producers fall, limiting the impact on oil prices.
News
March 25, 2021
Work to re-float the Ever Given and free up oceangoing carriers hauling almost $10 billion of oil and consumer goods continued without success on Thursday in Egypt. The Suez Canal Authority has temporarily suspended traffic along the waterway.
News
March 09, 2021
The deal consists of Shell’s interest in 13 onshore concessions and in Badr El-Din Petroleum Co. The U.K.’s Cairn, together with Cairo-based Cheiron Petroleum Corp., will buy the assets for $646 million and make additional payments of as much as $280 million by 2024, “contingent on the oil price and the results of further exploration."
News
February 20, 2021
The announcement comes as nations in the eastern Mediterranean ramp up investments in offshore gas fields. Egypt is seeking to become a major hub for exporting LNG to Europe, where demand is growing as governments transition from dirtier fossil fuels such as coal and oil.
News
February 17, 2021
“Egypt is in the process of launching the Egypt Upstream Gateway, a digital subsurface platform that will act as an up-to-date repository of the country’s subsurface data,” said H.E. Eng. Tarek El-Molla, minister of petroleum and mineral resources, Egypt.
News
January 21, 2021
Energean PLC announced a Final Investment Decision has been taken on the North El Amriya and North Idkunea concession subsea tieback project in offshore Egypt.
News
January 20, 2021
The partners in the Leviathan and Tamar fields, which sit off Israel’s Mediterranean coast, signed an agreement under which Israel Natural Gas Lines Ltd. will lay a new subsea pipeline and expand some of its existing ones, according to a statement Tuesday from Delek Drilling LP, a shareholder in both reservoirs.
News
January 01, 2021
This deal, plus more to be announced, target drilling 23 wells in nine regions in the Mediterranean and three regions in the Red Sea, with a minimum total investment seen at $1.4 billion.
News
January 15, 2020
Egypt began receiving natural gas from Israel, enacting a deal initially worth $15 billion that’s part of the North African country’s plan to become an energy re-export hub on Europe’s doorstep. Israeli gas stocks rose.
Article
April 2019
LUKOIL has commenced drilling new production wells at West Qurna-2 field as part of the second development phase.
Article
April 2019
Svenska Petroleum Exploration AB has commissioned Exceed to drill the first-ever deepwater well offshore Guinea Bissau, West Africa.
Article
February 2019
Rising oil supplies and falling prices in second-half 2018 constrained global drilling, but activity should post a measured gain in 2019. Virtually all the global oil production increase is due to U.S. shale activity.
Connect with World Oil
Connect with World Oil, the upstream industry's most trusted source of forecast data, industry trends, and insights into operational and technological advances.