As of the end of October, outstanding receivables had reached $170mn, of which $139mn was overdue.
Egyptian General Petroleum Corp. (EGPC)
The EUG update put the hydrocarbon potential in the Western Desert at 132 million barrels of oil equivalent, from 28 leads. In the Gulf of Suez, this increases to 540mn barrels of resources from 27 leads.
The two talked about Chevron’s plans in Egypt. These include increasing production and co-operation in exporting gas from the region to Europe.
Energean has started up a new well on its Abu Qir concession, in Egypt. Abuqir Petroleum, a joint venture of Egyptian General Petroleum Corp. (EGPC) and Energean, has completed a new sidetrack, the NA/Q-PII#6 ST.
Amid mounting opposition from some investors to its proposed merger with Tullow Oil, Capricorn Energy is “assessing all options to maximise value for shareholders”.
Apex International Energy has tested its Fajr-8 development well at 2,440 barrels per day of oil in Egypt’s Western Desert.
Eni has announced a trio of discoveries in Egypt’s Western Desert, shortly after agreeing to expand gas supplies to Europe from the North African state.
The APA-Sinopec joint venture have reached a new production-sharing contract (PSC) in Egypt, which will see more drilling carried out – and more cash returned to the companies.
Eni has discovered a more resources in Egypt’s Western Desert, in keeping with its plans to deliver production to market quickly.
The ASD-1X, in Egypt’s Abu Sennan, is a commercial discovery, United Oil & Gas reported, saying a second well had been spudded on May 2.
Pharos Energy has secured improved fiscal terms on its El Fayum concession, in Egypt’s Western Desert.
TechnipFMC has won subsea tie-back work on the NEA/NI project offshore Egypt.
A restart of the Damietta LNG plant is once again on the cards following an agreement between Eni, Naturgy and two state-owned Egyptian companies.
TransGlobe Energy has posted a net loss of $13.4 million for the second quarter, as production declined and prices fell.
Neptune Energy has completed its acquisition of an ocean bottom nodes (OBN) multi-client survey on Egypt’s offshore North West El Amal block.