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2018-04-25 09:45:00

EGYPT NEED INVESTMENT $10 BLN

EGYPT NEED INVESTMENT $10 BLN

REUTERS Egypt aims for foreign investment in the oil and gas sector to reach about $10 billion in the 2018/19 fiscal year that begins in July, Petroleum Minister Tarek El Molla said on Sunday.

Molla said he expected foreign investments to total the same amount for the current fiscal year, marking a 25 percent increase from the previous year.

The 25 percent gain comes as a result of foreign companies investing in major gas projects in the Mediterranean, he said.

Egypt aims to increase its gas production from newly discovered fields, which include the mammoth Zohr asset discovered by Italy's Eni in 2015.

Once a gas exporter, Egypt hopes to halt imports by 2019.

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Earlier:

 BP STARTS IN EGYPT
2018, February, 14, 09:40:00

BP STARTS IN EGYPT

BP announced the start of gas production from the Atoll Phase One project, offshore Egypt. The project, in the North Damietta concession in the East Nile Delta, was delivered seven months ahead of schedule and 33% below the initial cost estimate.

 ZOHR INCREASES OUTPUT
2018, February, 2, 12:08:00

ZOHR INCREASES OUTPUT

BLOOMBERG - Zohr, the largest undersea gas discovery in the Mediterranean, will pump 1.7 billion cubic feet per day before the end of 2018, el-Molla said in a televised ceremony to inaugurate the field. Egypt is talking with Rome-based Eni to increase output to reach the 2019 production target this year instead, he said.

 EGYPTIAN MACROECONOMIC TURNAROUND
2018, January, 24, 11:50:00

EGYPTIAN MACROECONOMIC TURNAROUND

IMF - “This macroeconomic turnaround at home and the supportive global economic environment provide a unique opportunity to carry the reform momentum into areas that have historically been hard to tackle. Deep and lasting structural reforms are needed to create jobs as speedily as needed for Egypt’s growing population,” said Subir Lall, head of the IMF team for Egypt.

 

 BP: ZOHR HAS STARTED
2017, December, 20, 19:20:00

BP: ZOHR HAS STARTED

BP - BP confirmed that production has started from the super-giant Zohr gas field, offshore Egypt. The field is operated by Eni, through its joint venture with The Egyptian General Petroleum Corporation (EGPC), and is the largest natural gas discovery yet to be made in the Mediterranean Sea.

 

 RUSSIAN - EGYPTIAN NUCLEAR
2017, December, 13, 12:25:00

RUSSIAN - EGYPTIAN NUCLEAR

ROSATOM - Cairo, Egypt - On December 11, 2017, Director General of ROSATOM Alexey Likhachev and Egypt’s Minister of Electricity And Renewable Energy Mohamed Shaker signed the Notices to proceed the contracts for the construction of the El Dabaa nuclear power plant.

 

 EGYPT'S ZOHR WILL COME
2017, December, 11, 10:05:00

EGYPT'S ZOHR WILL COME

Gas from Zohr will also help ease pressure on the economy of the most populous Arab nation, which has been plagued by a shortage of foreign currency since a 2011 uprising. Zohr, which Eni discovered in August 2015, has an estimated reserve of about 850 billion cubic meters of natural gas in place.

 

 IMF HAS EGYPT
2017, July, 17, 13:35:00

IMF HAS EGYPT

The approval by the IMF Executive Board of the First Review of the program shows the IMF’s strong support for Egypt in these efforts.

 

 

Tags: EGYPT, GAS, ZOHR

Chronicle:

EGYPT NEED INVESTMENT $10 BLN
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GREEN ENERGY CONGRESS JUNE 2019

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EGYPT NEED INVESTMENT $10 BLN
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СЕВЕРНЫЙ ПОТОК 2 БУДЕТ РЕАЛИЗОВАН

МИНЭНЕРГО РОССИИ - «Мы считаем, что проект газопровода – коммерческий, и в нем заинтересованы европейские компании. Из-за того, что потребление газа в Европе будет расти, а собственная добыча – падать, Европа будет нуждаться в дополнительных объемах импорта. Наша конкурентоспособность подтверждена годами. Уверен, что проект будет реализован, он станет одним из основных инфраструктурных проектов на десятилетия вперед»,

EGYPT NEED INVESTMENT $10 BLN
2019, February, 15, 12:10:00

СЕВЕРНЫЙ ПОТОК 2 ВОВРЕМЯ

ГАЗПРОМ - Отдельное внимание на встрече было уделено ходу реализации проекта «Северный поток — 2». Отмечено, что укладка газопровода в Балтийском море идет по графику.

EGYPT NEED INVESTMENT $10 BLN
2019, February, 15, 12:05:00

NORD STREAM 2 DEAL

REUTERS - Russia's planned Nord Stream 2 gas pipeline direct to Germany is set to face EU market rules after negotiators agreed informally to change the EU's gas directive to apply to offshore gas links, the European Commission said late Tuesday.

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