Ministry of Petroleum and Mineral Resources
The official has affirmed that Egypt will recurrently release bids for gas imports until local production rebounds.
The Minister emphasized the importance of addressing current challenges comprehensively, with the goal of increasing production, bridging gaps, and transitioning towards a green economy.
These upcoming LNG shipments serve as a notable addition to the existing stock of LNG already received by the Egyptian Natural Gas Holding Company (EGAS).
Badawi also emphasized that these efforts are pivotal to Egypt's sustainable development strategy, reflecting a proactive stance on climate action and energy transition
The first project involves the construction of a 10-megawatt solar power generation station at the Assiut Oil Refining Company. Enppi and Petrojet, two subsidiaries of the petroleum sector specializing in engineering designs, general contracting, and construction, have been assigned to undertake this venture
El Molla outlined Egypt's revised goals for national emissions reduction contributions, aiming to expand the country’s use of green energy and achieve a 42% integration of renewable energy into the energy mix by 2035
The primary objective of the agreement is to establish a comprehensive framework for advancing collaboration in natural gas activities, while also fostering bilateral scientific, technical, and technological exchange
Ambassador Mihalikova expressed the interest of a delegation from Slovak companies to visit Egypt and discuss investment possibilities, particularly in the oil and gas sectors
The program aims to boost its daily gas production by 30 million cubic, through drilling 11 development wells and three exploratory wells
Lotus Gold Corporation won two rounds of a gold exploration tender conducted by EMRA in 2020 and 2021 for exploration concessions
The agreement comes within the Ministry of Petroleum and Mineral Resources’ strategy to promote comprehensive cooperation between Egyptian petroleum companies and international organizations
With the objective of achieving optimal utilization of mining resources and attracting increased investments, the partnership emphasizes the adoption of modern scientific methods in research, evaluation, and exploration
This represents a significant boost from the previous estimates of $7.7 to $8 billion, as previously stated by El Molla.
The station will create 250 direct and indirect job opportunities and also supply 1,200 vehicles per day with natural gas.
The hedging contracts that were agreed to be executed ranged between 75 and 80 dollars per barrel, and about 35 percent of the total oil needs that we import from abroad each year, amounting to 100 million barrels, have been hedged, the source told Ashraq Bloomberg.
Christmann added that his company looks forward to the government's support to continue implementing its expansions in the Egyptian market, and to sustain its extended partnership with Egypt.
El Molla highlighted Al-Hamra Petroleum port as a significant opportunity for the petroleum sector, with a strategic geographical advantage and skilled workforce that will support achieving returns
El Molla disclosed plans to initiate a series of tenders in the current quarter of the year, focusing on precious and base metals, phosphates, sulfur, and potash
The rig will be transferred to the Egyptian Drilling Company (EDC). Once it arrives at EDC, the rig will support the company’s fleet in the implementation of drilling and exploration programs in onshore areas
El Molla emphasized the Egypt-US partnership’s significance in terms of joint international initiatives to enhance cooperation and provide solutions and technology for methane reduction
