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La société américaine Merlon Company investit 80 millions de dollars dans l'exploitation pétrolière égyptienne

La société américaine Merlon Company investit 80 millions de dollars dans l'exploitation pétrolière égyptienne | Égypt-actus | Scoop.it

By NAGLA KAMAL

CAIRO: The United States’ Merlon Company will push investments valued at $ 80 million to enhance the production of oil, a petroleum ministry source told Youm7 on Wednesday.

The source added that the company invested $ 103 million last year, as they bought production supplies and spare parts.

Merlon is expected to drill 8 new wells in 2014-2015 in the oil fields that belong to the Petrosilah Petroleum Company, located in the Western Desert.

The Petrosilah Petroleum Company is the acting company of the Egyptian General Petroleum Corporation (EGPC,) and is considered the first company to develop petroleum fields in the Middle East and North Africa.

The company has plans to increase the exploiting of existing and newly discovered oil fields to meet the local market needs of petroleum products.

The daily production of Petrosilah rose from 1500 barrels of raw oil in 2010 to about 6000 barrels. The company has been established as a joint company between the EGPC and  Merlon Company in May 2010.

Originally published in Youm7.

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Egypt to import Libya oil, pay down energy debt: reports

Egypt will import 900,000 barrels of oil a month from Libya starting in April and is paying off some of the money it owes to foreign energy firms, its oil minister was quoted as saying on Wednesday.

Osama Kamal, cited by local media, said Egypt, where an economic crisis has led to fuel shortages, had recently paid $1 billion in debt to foreign energy firms and that another $1 billion would be coming in a fortnight.

"The Libyan petrol shipments will arrive next month," Kamal was quoted as saying in local newspaper Al Borsa. In Egypt "petrol" is used to refer to crude oil.

The Egyptian government is estimated to owe billions of dollars to oil producers working in the country, though the government last month disputed an estimate that put the debt at $9 billion.

 

Reuters, via Yahoo news

More : http://news.yahoo.com/egypt-pay-further-1-bln-towards-oil-debts-093643573--finance.html;_ylt=AwrNUPjBUVNRTEkAAQD_wgt.

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Appel d’offres : prospections pétrolières en Haute-Egypte

Appel d’offres : prospections pétrolières en Haute-Egypte | Égypt-actus | Scoop.it
Egypt-actus's insight:
Le président de la Compagnie Holding du Pétrole du Sud de la Vallée, l’ingénieur Chérif Ismaïl, a annoncé que de nombreuses firmes étrangères se sont présentées à l’appel d’offres organisé par la compagnie pour encourager la prospection de pétrole et de gaz en Haute-Egypte.

 

Il s’agit de 20 nouvelle zones de prospection au sud de l’Egypte dans des sites des Déserts Oriental et Occidental et en mer Rouge couvrant des superficies dépassant 125 000 kilomètres. Le Progrès égyptienhttp://213.158.162.45/~progres/index.php?action=news&id=20286
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Business Today: Difficult Oil

Business Today: Difficult Oil | Égypt-actus | Scoop.it

As the rigs go deeper and the stakes get higher, oil and gas companies are demanding more flexible agreements, but can change be enacted fast enough to bring Egypt back from being a gas importer?

 

Paris-based Observatoire Méditerranéen de l’Energie (OME) estimated that Egypt could become a net importer of gas by 2030 if its production levels and reserves were not improved through major new discoveries, technological breakthroughs and massive capital expenditures.

 

Today, in 2013, Egypt’s growth in local demand has put pressure on the nation’s domestic supplies and export obligations, leading the nation to an energy crisis. Queues at diesel pumps are becoming the norm, butane tanks are in short supply and late last year, Minister of Petroleum Osama Kamal announced that industrial facilities would import gas as of 2H2013 with factories allowed a ceiling of 1 billion cubic feet a day, according to Bloomberg.

 

According to OME analysts, Egypt does not lack resources, but lacks the ability to convert reserves to productive capacity faster.

 

(...) heads of major private and public oil companies operating in Egypt along with government representatives discussed the obstacles hindering the growth of Egypt’s oil production in the future at The Future of Oil & Gas Agreements in Egypt roundtable.

 

The consensus in the room was that Egypt has almost maxed out its ‘easy oil’ — oil that is easy to find and cheap to extract — and that the future now lies in the production of the more expensive ‘difficult oil.’ (...)

 

“Is Egypt done with its oil and gas production?” asks Abdallah Ghorab, the former minister of petroleum and the session’s moderator. “My answer is that we have produced the cheap oil and gas and we now have to go further with technology and become more flexible in our pricing to continue production,” he continues.

 

Flexibility and pricing seemed to be the main topic on the agenda and the number one concern for international oil companies. (...)

 

More on: http://www.businesstodayegypt.com/article/artId:574/Difficult-Oil/secId:4

 

 

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Iraq to supply Egypt with 4 million barrels of oil monthly

Iraq to supply Egypt with 4 million barrels of oil monthly | Égypt-actus | Scoop.it

By: Lamia Nabil/Daily news Egypt

Egypt and Iraq have signed an agreement which will supply Egypt with 4 million barrels of Iraqi crude oil per month and 4,000 tonnes of diesel per day.

The agreement was concluded during Prime Minister Hesham Qandil’s recent visit to Iraq.

The oil will be supplied to Egypt via pipelines across the Gulf of Aqaba.

Minister of petroleum Ossama Kamal said he expected a “breakthrough” in the fuel shortage crisis currently gripping the nation after the Iraqi oil agreement, according to his press conference last Monday.

Kamal also said that the agreement will contribute to fill part of the gap between Egypt’s production of diesel, currently 22,000 tonnes per day, and its consumption, currently 35,000 tonnes per day.

 

More : http://www.dailynewsegypt.com/2013/03/06/iraq-to-supply-egypt-with-4-million-barrels-of-oil-monthly/

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Egypt: $ 1.2 Billion Fresh Investment in Khaleda Oil Fields

Egypt: $ 1.2 Billion Fresh Investment in Khaleda Oil Fields | Égypt-actus | Scoop.it

Minister of Petroleum Osama Kamal said that the expansion in the new investments through foreign companies is not confined to the exploration and development of oil fields, but also to the use of modern technology and training Egyptian technical cadres.

For his part, Head of Khaleda Petroleum Company Osama al-Bakly said the current fiscal year plan aims at luring investments at a value of $ 1.2 billion, to be invested in the drilling of 121 wells, 64 of which for producing oil, 13 for producing gas, 18 for injecting water and 26 wildcat wells.

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Any oil to spare? Throw it in the Nile, no one will notice or care

Any oil to spare? Throw it in the Nile, no one will notice or care | Égypt-actus | Scoop.it

A five-kilometer-long oil spill was discovered near Edfu, a town north of Aswan, in October. Aside from the usual environmental damage from oil spills — destroyed ecosystems and destruction of wildlife — the oil continued to drift north, reaching crucial water purification facilities and destroying farmland, robbing thousands of access to drinkable water.

But despite strident calls for the Environment Ministry and Aswan Governor Mohamed Mostafa to look into the spill, residents and environmental activists say no real investigation took place.

Ahmed Zaky, an environmental activist and Aswan resident, says authorities made announcements to the press and then bought in equipment to dilute or clean the spill and “calm residents down.”

“[But] there was no investigation whatsoever,” he says.

Mostafa has said the remaining oil shrunk to an area five meters long, as state news agency MENA reported. The Environment Ministry added that the oil spill investigation had closed after the area was cleaned up and the problem solved. It attributed the spill to an accidental leak from a nearby sugar factory.

 

Not everyone, however, is convinced that the case is closed, as many residents’ land remains covered in oil and fish farms remain destroyed. The Habi Center for Environmental Rights filed a legal complaint, seeking to hold Mostafa and the Irrigation and Water Resources, Health and Environment Ministries accountable for the damage.

 

More on:http://www.egyptindependent.com/news/any-oil-spare-throw-it-nile-no-one-will-notice-or-care

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Egypt says has signed debt deals with Petronas, BG Group

Egypt says has signed debt deals with Petronas, BG Group | Égypt-actus | Scoop.it

(Reuters) - The Egyptian government has signed agreements with Malaysia's Petronas and Britain's BG Group to reschedule debt owed by Cairo, the minister of petroleum, Osama Kamal, told reporters on Tuesday.

He did not say now much debt had been rescheduled.

Oil producers working in Egypt are estimated by Exclusive Analysis to be owed $9 billion - a figure Kamal disputed at a news conference this month.

Egyptian Prime Minister Hisham Kandil met on Tuesday with a delegation from American energy company Apache and BG Group to discuss investment opportunities in Egypt.

"They (BG Group) have assured, through the meeting, that they will continue investing in Egypt and expressed their interest in increasing it in the future," a statement from the cabinet said.

The company's investment in Egypt over the next five years is estimated at about 5 billion dollars, Kamal said.

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Pétrole: le groupe italien Eni découvre un gisement en Egypte

Pétrole: le groupe italien Eni découvre un gisement en Egypte | Égypt-actus | Scoop.it
IRIB-Le groupe énergétique italien Eni a découvert une nouvelle réserve de pétrole dans le champ égyptien de Meleiha (ouest), a annoncé un communiqué du groupe.

 

La découverte a été faite lors du forage du puits Rosa North 1X. Deux autres puits d'exploitation seront forés en 2013 dans le cadre de la mise en valeur de la nouvelle réserve. Le débit attendu de chacun d'entre eux est de l'ordre de 2.000 barils de brut par jour et celui de Rosa North 1X de l'ordre de 5.000 barils par jour.

Eni est l'opérateur de la licence Meleiha avec 56% d'intérêts, les autres partenaires étant les groupes russe Lukoil (24%) et japonais Mitsui (20%).

Le groupe italien opère en Egypte depuis 1954. En 2011, sa production dans le pays a atteint environ 240.000 barils par jour.

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OAPEC to hold conf. in Cairo Feb 12-14

MENAFN - Kuwait News Agency (KUNA)) The Organization of Arab Petroleum Exporting Countries (OAPEC) announced that it would hold a conference on alternatives of refining heavy oil in Cairo on February 12-14, said OAPEC Tuesday.

OAPEC said in a statement that the OAPEC conference, organized by Egypt  and a Japanese petroleum center would focus on means to refine petroleum in ways that were environment friendly.

 

More on: http://www.menafn.com/menafn/1093606424/OAPEC-to-hold-conf-Cairo-Feb-1214

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Egypte : Dana Petroleum est autorisé à exploiter le champ Nefertiti

Egypte : Dana Petroleum est autorisé à exploiter le champ Nefertiti | Égypt-actus | Scoop.it

(Agence Ecofin) - Le gouvernement égyptien a donné son feu vert à Dana Petroleum pour développer le champ de Nefertiti dans le golfe de Suez.

Egypt-actus's insight:

Fin 2012, Dana Petroleum, en partenariat avec Inpex, a foré avec succès le Nefertiti-2X. Sur la base de cette exploration réussie, les deux sociétés ont convenu avec EGPC que le champ Nefertiti était exploitable commercialement.

Oussama Kamal, ministre du Pétrole et des Ressources minérales a donné son approbation le 20 janvier.
« Le champ de Néfertiti est une première technique pour Dana Petroleum car c’est un champ offshore que nous avons exploré en forant des puits longue portée depuis la terre ferme. Cette technique réduit les coûts et le temps de développement. Elle offre une meilleure protection de l'environnement marin, y compris d’un certain nombre de récifs coralliens.» a précisé Nick Dancer, DG de Dana Petroleum Egypte.

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Libya, Egypt to tighten oil fields security following Algeria’s crisis

Libya, Egypt to tighten oil fields security following Algeria’s crisis | Égypt-actus | Scoop.it
Libya rushed to beef up security at its oil fields and energy firms were considering similar measures in Egypt as Islamist militants threatened to attack new installations in north Africa.
Egypt-actus's insight:

Even in Egypt, thousands of kilometers away from In Amenas, the oil industry was feeling unnerved.

“If there is a critical situation (in Egypt) we will take measures including staff evacuation. At the moment, everything is under control,” a spokesman for Russian oil major LUKOIL
said.

Royal Dutch/Shell, which has a heavy presence in Egypt, said it was looking carefully at the geopolitical situation to make appropriate security arrangements, but declined specific country-related comments.

Chief executive of global oilfield services major Schlumberger, Paal Kibsgaard, told a conference call on Friday security in the entire region was under renewed scrutiny.

“If you talk about Algeria and Libya, we are operating there with security measures and, with what has happened in the last week, we are relooking at that,” he said.

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Egypt Discovers Oil and Gas in Western Desert, Ministry Says

Egypt’s state-run General Petroleum Co. made an oil and natural gas discovery in the Western Desert and plans to drill nine wells to develop the concession, the Oil Ministry said today.

The find has reserves estimated at about 16.5 billion cubic feet of gas and 48 million barrels of crude, the Cairo-based ministry said in an e-mail. The company, also known as GPC, and Kuwait Energy Co. made two joint discoveries in the same area, the ministry

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Tripoli propose à l’Egypte de raffiner un million de barils/mois en échange de réalisations BTP

Tripoli propose à l’Egypte de raffiner un million de barils/mois en échange de réalisations BTP | Égypt-actus | Scoop.it

 Les nouvelles autorités libyennes ont décidé de raffiner, dorénavant, près d’un million de barils de pétrole par mois en Egypte qui souffre ces temps d’une crise énergétique.

Cette l’opportunité permettra à l’Egypte de disposer de diesel pour faire face à ses besoins domestiques de plus en plus pressants, en raison de l’instabilité sociopolitique, pour le moment défavorable aux investissements d’exploitation et de production.

En retour, le gouvernement libyen vient de confier à l’Egypte une partie des projets de reconstruction de la Libye post-Kadhafi, un marché sur lequel une société égyptienne se serait déjà positionnée pour la réalisation de chantiers estimés à quelques milliards de dollars.

 

Ecofin

http://www.agenceecofin.com/hydrocarbures/2803-9860-libye-tripoli-propose-a-l-egypte-de-raffiner-un-million-de-barils/mois-en-echange-de-realisations-btp

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Libya Plans To Refine Some Oil In Egypt-Minister

Libya Plans To Refine Some Oil In Egypt-Minister | Égypt-actus | Scoop.it

Libya plans to refine some of its crude oil in Egyptian refineries to support its neighbour's economy which is faltering due to political unrest, the Libyan oil minister said on Monday.

"We have plans to refine Libyan oil in Egyptian refineries in order to import it from Egypt to support the Egyptian economy," Abdul-Bari Al-Aroussi told Reuters.

Libyan refineries provide about 30 percent while 70 percent of the north African country's refined oil needs is imported.

Al-Aroussi said stability in Egypt was important for both nations.

 

More on: http://amwalalghad.com/en/news/egypt-news/15691-libya-plans-to-refine-some-oil-in-egypt-minister.html

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Egypt Pays Foreign Oil Companies $6.5 Billion Owed- Borsa Says

Egypt Pays Foreign Oil Companies $6.5 Billion Owed- Borsa Says | Égypt-actus | Scoop.it

Egypt’s government paid foreign energy companies $6.5 billion in overdue payments owed this year, Al Borsa reported, citing Oil Minister Osama Kamal.

The North African country still owes international oil companies at least $200 million, Kamal said, according to the Cairo-based financial newspaper. The report didn’t identify any of the companies involved, nor did it quantify any amounts owed from previous years. The newspaper also didn’t specify whether Kamal was referring to the government’s fiscal year, which runs from July 1 to June 30, or the calendar year.

Kamal said Egypt paid the equivalent of $1 billion of the total amount in Egyptian pounds because of its shortage of foreign currency, Al Borsa reported.

 

More on: http://www.bloomberg.com/news/2013-03-19/egypt-pays-foreign-oil-companies-6-5-billion-owed-borsa-says.html

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Why is Iraq supplying oil to Egypt?

The Iraqi government of Nouri Al Maliki agreed last week to provide Egypt with about four million barrels of oil. The development comes after the visit of Egyptian PM Hesham Gendel to Iraq, which was the first by a top Egyptian official in thirty years. The Iraq-Jordan pipeline, that ends at Al Aqaba port, will be used to supply the crude oil. Egypt has been in the throes of a financial crisis since the overthrow of Hosni Mubarak. The deal will help fill the gap in Egypt’s diesel production, which is 22,000 tonnes per day whereas the daily consumption is 35,000 tonnes.

Al Maliki also decided to release 33 Egyptian prisoners in his country and both sides have agreed to look at ending Egyptian debts, recruiting Egyptians for work in Iraq. Obviously, Al Maliki is eager for reconciliation with the Muslim Brotherhood government since the relations faced problems during the era of President Jamal Abdul Naser, Al Sadat and Hosni Mubarak, and due to the Iraqi invasion of Kuwait and the assassination of Egyptian ambassador Eyhab Al Sharif in Baghdad in 2005. Maliki is seeking to gain the trust of Muslim Brotherhood and win its support for his stance on Arab Spring, especially on Syria. 

 

He wants to build Arab support for his initiative which aims at bringing Bashar Al Assad and his opponents to the negotiating table. 

The Government of Al Maliki has been resisting the overthrow of Syrian regime and, with support from Iran, opened its border to Shia extremist groups to fight alongside the Syrian regime forces. Also, it has allowed Iranian aircraft to use its airspace to fly to Syria, said news agencies. 

Both Iraq and Egypt stand to benefit from the oil deal. The government of Brotherhood is struggling to overcome the financial crisis, where they are exploring the possibility of using the Iran-Syria closeness to exert pressure on the US to get a loan from the International Monetary Fund (IMF). At the same time, Al Maliki is keen on winning Egyptian support to solve the Syrian problem to protect the interests of Iran and the Assad regime.   

Egypt has the right to decide its priorities. Therefore, it’s not surprising to see it leaning towards Iraq on some Arab issues, including Syria. 

But we should not rush to conclusions. Let us see how the relations will evolve, and what positions they will take in the forthcoming Arab summit in Doha, especially on the issue of granting membership to the Syrian National Council in Arab League. 

 

Khalid Al Sayed / The Peninsula 
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Iraq to supply Egypt with 4 mln barrels of oil per month

Iraq to supply Egypt with 4 mln barrels of oil per month | Égypt-actus | Scoop.it

Iraq has agreed to supply Egypt with 4 million barrels of oil per month, during a visit by Egyptian Prime Minister Hisham Kandil to Baghdad on Monday, Iraqi government spokesman Ali al-Moussawi said on Tuesday.

 

Economic turmoil since a popular uprising unseated Hosni Mubarak last year has stretched Egypt's finances and inflated the premiums the state petroleum company pays for fuel.

 

Traders say the number of firms supplying fuel to the Arab world's most populous country has shrunk and repeated shortages have angered motorists and disrupted industry and agriculture.

 

"An agreement has been reached for Iraq to sell crude oil to Egypt with an amount of 4 million barrels per month," Mousawi said, adding Baghdad would study a request to extend a planned oil pipeline from Iraq to Jordan on to Egypt.

(...)

 

 

More on: http://www.dailystar.com.lb/Business/Middle-East/2013/Mar-05/208864-iraq-to-supply-egypt-with-4-mln-barrels-of-oil-per-month.ashx#axzz2MeWwmJIp

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Shell Egypt, Nile Petroleum sign agreement to market marine lubricants

Shell Egypt, Nile Petroleum sign agreement to market marine lubricants | Égypt-actus | Scoop.it

Shell Egypt recently signed a partnership agreement with Nile Petroleum, identifying the latter as the primary distributor of Shell marine lubricants in Egypt, to serve ships passing through the Suez Canal.

Alaa Al-Gharbawi, managing director of Shell Egypt, emphasised the need to work with both national Egyptian petroleum and gas companies and international oil conglomerates in order to spur development, revive Egypt’s economy and provide fuel to ships passing through the Suez Canal and other ports throughout Egypt.

Ahmed Al-Tuni, president of the board of directors for Nile Petroleum, who signed the partnership agreement with Shell Egypt, said that the agreement constitutes a huge success for an Egyptian company, as it enables the provision and distribution marine oils to ships pEgypt)

 

More : assing through Egypt’s ports. Many consider this a testament to the extent to which foreign companies trust Nile Petroleum and its ability to work efficiently in Egyptian markets. (Daily news Egypt)

 

More : http://www.dailynewsegypt.com/2013/02/25/shell-egypt-nile-petroleum-sign-agreement-to-market-marine-lubricants/

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Egypte: Qandil examine avec British Gaz et Apache l'augmentation de leurs investissements

Egypte: Qandil examine avec British Gaz et Apache l'augmentation de leurs investissements | Égypt-actus | Scoop.it

Le premier ministre, Hicham Qandil a reçu deux délégations des entreprises British gaz internationale et Apache américain pour le pétrole pour examiner et accroitre l'investissement au secteur du pétrole entre les instituts gouvernementaux et les entreprises étrangères.

M. Qandil a examiné avec les délégations la coopération commune entre eux et les compagnies égyptiennes opérant en matière du pétrole et du gaz naturel à la région du Delta.

 

Le premier ministre a passé en revue avec la délégation les mesures nécessaires qui doivent être prises afin d'accroitre les investissements de l'une des plus grandes entreprises du pétrole et du gaz naturel en Egypte

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Iranian tankers funneling Syrian oil through Suez

Iranian tankers funneling Syrian oil through Suez | Égypt-actus | Scoop.it

According to the Syrian Economic Task Force (SETF), ships belonging to Iranian oil companies under different flags frequently traverse through the Suez Canal shipping oil and sometimes weapons between Syria and Iran.

SETF sanctions monitoring project officer Ismaël Darwish said the oil traversing through the Suez Canal is a lifeline for Syrian president Basher Al-Assad and his continued oppression of the Syrian people.

At least two ships have been identified as belonging to the Islamic Republic of Iran Shipping Lines (IRISL) and the National Iranian Tanker Company (NITC).  The ships’ names and flags have been frequently changed over the past two years, and the SETF believe these ships often lack the proper certification to dock in ports and traverse the Suez Canal.

According to the Suez Canal Authority (SCA) rules of navigation, the captain of a ship must be able to provide certificates of registry and classification, which includes environmental certifications provided by companies registered with the International Association of Classification Societies.(...)

Egypt-actus's insight:

“Although Iran is hard hit by sanctions, it still has access to Asian markets,” Darwish said. “If Iran imports crude oil from Syria, it can re-export it to those markets. The shipping is conducted through ships owned by Iran.”

 

There are no oil sanctions on Iran or Syria imposed by the United Nations or the Arab League. Given President Mohamed Morsi’s repeated calls of support for the Syrian opposition fighters, an embargo against Syria by Egypt could have a serious impact on the course of the Syrian civil war.

 

“Letting Iranian ships that transport Syrian crude oil pass through the Suez Canal provides massive economic support to the Assad regime,” Darwish said. “Therefore, Egypt should act against such shipments.”

 

More on: http://www.dailynewsegypt.com/2013/02/10/iranian-tankers-funnelling-syrian-oil-through-suez/

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Foreign Energy Investors Should Not Give Up on Egypt

Foreign Energy Investors Should Not Give Up on Egypt | Égypt-actus | Scoop.it

Egypt is not only hungry for energy—it’s starving, and this starvation will play a role in the underlying revolutionary instability that has foreign investors asking whether the other boot is about to drop and should they quit the country.

Most immediately,Egyptis hoping to buy 968,000 tons of diesel fuel for April-June delivery to stave off a worse energy crisis amid country-wide protests that threaten the Muslim Brotherhood’s hold on power ahead of April parliamentary elections.

 

The past four weeks have been very rough—against the backdrop of political unrest, tensions simmer as a result of fuel shortages that have people lining up for hours outside gas stations.

Diesel is experiencing an acute shortage and public transportation is suffering for it, while the add-on effects are rises in food prices, particularly agricultural products.

The government is in a quandary over fuel subsidies and hasn’t yet decided on its next move. There are a number of proposals out there. One is to reduce oil subsidies by 10% over the next 5 years—if the government lasts that long. The tradeoff is a promise to increase salaries by the same amount. They are also toying with rationing subsidized fuel, or buying more partially subsidized fuel instead of reducing subsidies. Another idea is to hand out cash subsidies to replace in-kind subsidies

Cairo had already spent $8.1 billion in the first half of the current fiscal year 2012/13 on energy subsidies, and the total for the full fiscal year will be around $16.3 billion.  (…)

It’s a nightmare scenario for the short-term investor, but for the longer term—and with an eye on the energy industry—consider this: The Suez Canal.

Over the longer term, foreign investors should note thatEgyptwill one way or another play a major role in energy geopolitics.

Egypt-actus's insight:

Whatever the solution—the fact of the matter is that the government will find it critical in the coming weeks and months to provide more fuel (…)

The key problem withEgyptright now is exactly its government. While the majors remain committed to exploration and development inEgypt, they are hindered by a rather unattractive investment environment. Bureaucratically, it’s a nightmare: technology is difficult to import and expenditures are difficult to get approved. Financially, it has also been stymied by the fact that state-owned oil and gas companies are meeting their financial obligations to their foreign partners and are billions of dollars in arrears.

If the government falls—again—this could get worse, but majors have already survived the revolution, and they will hold out still as the revolution is not over.

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Eni: new oil discovery in western desert of Egypt

Eni: new oil discovery in western desert of Egypt | Égypt-actus | Scoop.it

Eni has made a new oil discovery from the NFW well “Rosa North 1X‘, located in the Meleiha Concession, in the Western Desert of Egypt. The drilling of Rosa North 1X is part of Eni's strategy to refocus exploration activities in Egypt by targeting deeper oil plays in the Western Desert.(...)

The development of the discovery foresees the drilling of at least two development wells in 2013. Production for each well is estimated at 2,000 barrels of oil per day (bopd). The production of Rosa North Field is expected to reach 5000 Bopd in the first 12 months and will be delivered to the nearby processing facilities of Meleiha field.(...)

 

 Eni has been present in Egypt since 1954 and is the largest foreign energy player in the country. In 2011, the company’s oil and natural gas equity production averaged approximately 240,000 boe/d. In the Western Desert, Eni’s activities are currently producing around 53,000 boe/d from 6 different development leases.

 

More on:http://www.eni.com/en_IT/media/press-releases/2013/02/2013-02-06-new-oil-discovery-western-desert-Egypt.shtml

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Is fracking responsible for the flooding of an Upper Egyptian village?

Is fracking responsible for the flooding of an Upper Egyptian village? | Égypt-actus | Scoop.it

The village of Fares, located about 75km north of the city of Aswan near Kom Ombo, is currently being destroyed by severe flooding of contaminated water caused by controversial oil drilling practices performed over the past four years, according to the residents.

Egypt-actus's insight:

Fares is an agricultural village home to approximately 25,000 residents.

While they rely on arable land to survive, the continuous destruction of farms, trees, water supplies and even housing has forced many to try move away from the village into the desert, or onto higher terrain in the mountains.

However, government officials have been preventing evacuees from relocating onto what they claim is “private land,”  leaving many of Fares’ residents homeless.

According to Sheikh Ahmed Abdel Hameed, a resident of Fares and key community activist, the initial floodings started in 2009 when oil drillers from DanaGas started test drilling on residential land in Fares without local consent.

“Not long after the drillers left, contaminated water started to pump out of the ground from the holes they had made, destroying everything,” says Abdel Hameed, adding that now over 500 feddans of land and housing has been destroyed by constant flooding.

“It’s poisonous water, and even small amounts destroy the plantations and trees, instead of hydrating them ... and sometimes it can get up to five feet high, destroying our houses too.”

It is believed that this reaction is caused by a controversial drilling practice known as hydraulic fracturing, or fracking. It entails drilling a vertical tunnel thousands of feet below the surface until it reaches a layer of rock where gas or oil are buried. (...)

The EIPR first started focusing its attention on controversial oil drilling practices last September when Shell announced that it would be using hydraulic fracturing to release natural gas in the western desert.

The organization first demanded that an immediate moratorium be placed on the practice until Egypt had governmental institutions capable of properly overlooking the details of all drilling practices, and closing many of the potential loopholes in the bureaucratic process.

This demand is yet to be met. However now, due to the direness of the situation, the campaign has focused its attention primarily on the people of Fares.

“Whether or not it is directly related to the oil drilling or not, the people of Fares have a right to their land, to find out what or who is destroying it, and be able to hold those guilty accountable as well as receive proper compensation for their losses,” says Reem Labib, an environmental justice researcher with EIPR.

“There are clear signs that relate the problems of contaminated flooding in Fares to oil and gas drilling practices, so if they’re not related like they claim, then we need to confirm that and determine what is.”

According to Labib, the next step for the group is to collect samples of the flooded water from Fares and determine what chemicals and pollutants it contains.

However, given current political turmoil, it is uncertain when this will be carried out.

In the meantime, residents of Fares continue to fear for their future.

“Please help us,” says Abdel Hameed. “We have tried all in our power and knocked on every door possible. Nothing is working and no one cares because we are a small village and far away, but we are Egyptians too, and we have nowhere to safely live and no land to farm to survive.”

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Découverte pétrogazière dans le Western Desert

Découverte pétrogazière dans le Western Desert | Égypt-actus | Scoop.it
Egypt-actus's insight:

(Agence Ecofin) - Selon le Ministère égyptien du pétrole, la compagnie d’Etat General Petroleum Co. a fait une découverte de gaz naturel et de brut dans le désert occidental et projette le forage de 9 puits pour développer la concession.

Les réserves sont estimées à environ 470 millions de m3 de gaz et 48 millions de barils de brut.

Le Ministère rappelle que General Petroleum Co. ainsi que Koweït Energy Co. ont déjà fait deux découvertes conjointes dans la même région.

 

http://www.agenceecofin.com/hydrocarbures/1501-8430-egypte-decouverte-petrogaziere-dans-le-western-desert


Autre source: http://www.bloomberg.com/news/2013-01-14/egypt-discovers-oil-and-gas-in-western-desert-ministry-says.html

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