Under the deals, production from the Cronos gas field, off Cyprus’s southwest coast, and Aphrodite, located to the southeast, will be transported to Egyptian liquefaction facilities at Idku and Damietta before being exported as liquefied natural gas. The signing of the memorandum of understanding was overseen by Egyptian President Abdel-Fattah El-Sisi and Cypriot President Nikos Christodoulides at a gas conference in Cairo.
Bluewater, a specialist energy private equity firm, has signed a purchase agreement to sell Apex International Energy, an independent E&P company focused on the prolific Egyptian upstream market.
United Energy (MENA) Limited, a wholly-owned subsidiary of Chinese independent United Energy Group (UEG), has acquired the upstream oil and gas assets held by US independent Apex International Energy in Egypt, UEG announced on Friday.
The government of Egypt has signed deals with Shell and TotalEnergies for the delivery of 60 LNG cargoes at a cost of around USD 3 billion, Reuters reported on Friday.
The discovery in the country’s northern Mediterranean waters was announced by Egyptian Prime Minister Mostafa Madbouly, who was quoted by news outlet Caliber.
Egyptian Minister for Petroleum and Mineral Resources, Karim Badawi, has met with BP’s Executive Vice President of Gas & Low Carbon Energy William Lin to review the company’s latest activities in Egypt including the exploration and production for natural gas.
Diesel subsidies make up 70% of annual petroleum products subsidies
The Ministry of Petroleum and Mineral Resources has announced that the Egyptian Natural Gas Holding Company (EGAS) has launched a new international 2024 bid round for the exploration and exploitation of natural gas and crude oil in 12 blocks in the Mediterranean and Nile Delta.
Egypt’s petroleum ministry on Tuesday announced an international tender seeking bids for natural gas and crude oil exploration in the Mediterranean Sea and the Nile delta, 10 offshore blocks and two onshore blocks.
The country is the second-largest producer of natural gas in the continent following Algeria, and the fourth-largest holder of natural gas reserves.