Country Focus: Interest remains high in Egypt’s gas sector [LNG Condensed]
Mar 10, 2021 10:30:am
Summary While the Covid-19 pandemic may have slowed gas operations worldwide, Egypt remains a hive of activity. Over the last 12 months, major new operators have bought into the sector or enlarged their positions, gas production continues to rise, a deal has been reached to increase imports of Israeli gas, and Egypt’s second LNG plant is slated to resume operations in the first quarter of this year, following an eight-year hiatus. [LNG Condensed Volume 3, Issue 1 - January/February 2021]
by: NGW
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Country Focus: Interest remains high in Egypt’s gas sector [LNG Condensed]
Egypt to Invest $1.4bn Into New Offshore Exploration Projects
Posted 06/01/2021 10:02
Egypt has announced plans to explore for oil and natural gas at nine new sites in the Mediterranean and Red Sea, which will see around $1.4bn invested into the country’s offshore sector.The Egyptian Ministry of Petroleum and Mineral Resources expects to drill a total of 23 new wells across both seas.
The state’s Ministry of Petroleum and Mineral Resources announced the news, and expects to drill a total of 23 new wells across both seas. The ministry also noted that it had reached a total of 12 agreements, with just three yet to be finalised, backed by a combination of Egypt’s state-owned oil company Tharwa and a number of foreign oil majors, such as Shell and Total.