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The reserve, which has a 95% recovery rate, has one of the highest rates of extraction, and with a total $1bn investment over the next 10 years.
El Molla received a performance report by the Egyptian Natural Gas Holding Company (EGAS) for the first 10 months of the fiscal year (FY) 2019/20, from July 2019 to April 2020.
On the sidelines of the 2020 Egypt Petroleum Show (EGYPS), El-Molla said Egypt’s call for the establishment of the East Mediterranean Gas Forum aimed at transforming the country into a regional gas centre.
El-Molla reviews crude oil production plans
The first agreement in the East Horus region, Western Desert, is with the Egyptian General Petroleum Corporation (EGPC) and Shell, comes at a minimum investment of approximately $24.5m, and a signature grant of $23m to drill five wells.
Egypt’s gas production increase to 7.2bn scf/day, $5bn investments to raise fuel storage capacity
The project to be established on an area of 560,000 sqm in New Valley governorate, says El-Molla
“We did a lot to settle foreign companies’ arrears,” says Petroleum Minister
El-Molla revealed that the connection process was accelerated in the first quarter (Q1) of FY 2019/20, as the natural gas supply was extended to 21 new areas.
Four oil discoveries achieved with 2,800 barrels per day production rate, says Abdel Sadik
We adopt advanced mechanisms face oil prices fluctuations, says Minister of Petroleum
El-Molla explained that the current rate was achieved four months ahead of the planned date, after the completion and implementation of the second maritime line with a diameter of 30 inches and a length of 215 km.
Egypt’s Minister of Petroleum, Greek counterpart agree on boosting oil, gas cooperation
Cairo to host forum meetings on Tuesday, Thursday
Refineries have pivotal role in transforming Egypt into regional energy hub, says Petroleum Minister
Greek company competed with RWE, Neptune and Cairn, says industry source
Midor expansion project will achieve 60% increase in production capacity, says ElKareish
Renewal is essential to secure subsidy allocations from price changes, says El-Molla
New projects to contribute to reaching self-sufficiency for Upper Egypt in terms of various petroleum products, says El-Molla
Industrial rubber factory to be implemented with $100m investments, says Ethydco Chairperson
Plant to process 1.13bn scf/day
Egypt plays vital role in developing natural gas in Middle East: Fanon
The Ministry of Petroleum and Mineral Resources aims to launch three international oil and gas exploration tenders in 2019, in an effort to increase domestic oil and gas production rates, the Minister of Petroleum, Tarek El-Molla, told Daily News Egypt on Tuesday. El-Molla said that one of the bid rounds by the Egyptian Natural Gas …
Egypt returns to exporting liquefied gas to international markets after achieving self-sufficiency
Investments for project estimated at $800m
Winning companies committed to drilling 60 exploration wells, says El-Molla
Renewal of Singapore’s BW gasification vessel contract next year, says source
Four projects worth $309m were completed to raise efficiency of refineries
EGPC’s for gas exploration in Red Sea to be announced next week: El-Molla
Egypt’s four largest gas fields produce 6.5bn feet of gas per day: El-Molla