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Egypt

BP to divest mature oil assets in Egypt to Dragon Oil

BP has agreed to sell its interests in Gulf of Suez oil concessions in Egypt to Dragon Oil, the Dubai-based oil and gas company.  Under the terms of the agreement, Dragon Oil will purchase producing and exploration concessions, including BP’s interest in the Gulf of Suez Petroleum Company (GUPCO). Dragon Oil is a wholly-owned subsidiary of the Emirates National Oil Company (ENOC).

Positive Development Well results boosts Production from NW Gemsa, Egypt

SDX Energy Inc. (“SDX” or the “Company”) (TSX VENTURE: SDX), an oil & gas exploration and production company with assets in Egypt & Cameroon, is pleased to announce the Al Amir SE 23 development well in North West Gemsa, has encountered significant oil bearing reservoir sections in both the Kareem Rahmi and Shagar formations and will be completed as a producer in the Shagar.

BP to accelerate development of first phase of Atoll field in Egypt

BP today announced that it has signed a Heads of Agreement (HoA) with the Egyptian Minister of Petroleum, His Excellency Eng. Tarek El Molla, regarding the acceleration of the development of the recent Atoll gas discovery. The Atoll discovery (BP 100%) in the North Damietta Offshore Concession in the East Nile Delta, offshore Egypt was announced in March 2015.

Dana Gas Commences Drilling Campaign in Egypt

Dana Gas, the Middle East’s leading regional private sector natural gas company, is pleased to confirm that it has commenced drilling the Balsam-2 development well in the Balsam Development lease onshore Nile delta. The Balsam-2 well is being drilled with the 2000 HP Egyptian Drilling Company’s Rig #48 and targets the Qawasim formation at a depth of 3200 m. 

Eni signs a framework agreement for the development of Egypt's oil and gas resources

The Egyptian Minister of Petroleum and Mineral Resources, Sherif Ismail, signed today with Eni’s CEO, Claudio Descalzi, a Head of Agreement aimed at the development of the oil and gas resources of the Country while preserving the return of Eni’s investments.

BP Makes Second Gas Discovery - Egypt Offshore

BP Egypt announced today another important gas discovery in the North Damietta Offshore Concession in the East Nile Delta. The “Atoll-1” deepwater exploration well, currently being drilled using the 6th generation semi-submersible rig “Maersk Discoverer,” has reached 6,400 metres depth and penetrated approximately 50 metres of gas pay in high quality Oligocene sandstones. Expected to be the deepest well ever drilled in Egypt, the Atoll well still has another 1 kilometre to drill to test the same reservoir section found to be gas bearing in BP’s significant 2013 Salamat discovery, 15 kilometres to the south.

BP Finalises Deal To Develop Egypt’s West Nile Delta Gas Fields

BP today announced that it has signed the final agreements of the West Nile Delta project to develop 5 trillion cubic feet (tcf) of gas resources and 55 million barrels (mmbbls) of condensates with an estimated investment of around $12 billion by BP and its partner. The project underlines BP’s commitment to the Egyptian market and is a vote of confidence in Egypt’s investment climate and economic potential. 

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