Gulf Oil and Gas accountACCOUNT

France's Total Wins Egypt Gas Exploration Licence

Source: Reuters 9/29/2014, Location: Africa

French oil company Total has been awarded a licence to explore for natural gas in the Nile Delta, a source in the state-run Egyptian Natural Gas Holding company (EGAS) said.

"France's Total won the bid to explore in Sector 2 in the Delta region," the source told Reuters on condition of anonymity.

In December, Egypt's General Petroleum Corporation (EGPC) and Natural Gas Holding Company (EGAS) announced an international auction for oil and gas exploration concessions in accordance with production sharing agreements.

The concessions are for areas in the Suez Canal, Egypt's western desert, the Mediterranean sea and the Nile Delta.

In addition to Total, Dana Gas, BP, Eni , Petroceltic and Edison have won concessions in the Mediterranean Sea and the Nile Delta.

Germany's RWE has won two exploration blocks in the Gulf of Suez, while Tunisia's HBSI, Canada's TransGlobe and Italy's Edison secured five blocks in Egypt's western desert.

Egypt has been struggling with soaring energy bills caused by the high subsidies it provides on fuel for its population of 85 million. The subsidies have turned the country from a net energy exporter into a net importer over the last few years.

Egypt has started repaying some of its debt to foreign oil companies, which had reached more than $6 billion.

For more information about related Opportunities and Key Players visit Egypt Oil and Gas Projects

Acquisitions and Divestitures News in Egypt >>

Norway >>  10/14/2019 - Neptune Energy has entered into a conditional Sale and Purchase Agreement with Energean Oil and Gas to acquire Edison E&Pís UK and Norwegian producing...
Brazil >>  10/13/2019 - Petrobras has been awarded one offshore block in the 16th ANP Bidding Round under the Concession Regime, held by the National Agency of Petroleum, Na...

Brazil >>  10/11/2019 - In Brazilís 16th Bidding Round for oil and gas exploration blocks, Wintershall Dea was awarded two offshore blocks in the Santos and Campos basins wit...
Brazil >>  10/10/2019 - Total, operator, and its co-venturers Qatar Petroleum and Petronas have won the C-M-541 deep offshore block in the 16th Bidding Round held by Brazilís...

Brazil >>  10/9/2019 - Wintershall Dea farms down a 30% participating interest in its three Potiguar offshore exploration blocks POT-M-857, POT-M-863 and POT-M-865 to the su...
Netherlands Antilles >>  10/9/2019 - Solo (SOLO), is pleased to announce that its wholly owned subsidiary, Scirocco (Netherlands) Energy B.V., has entered into a binding sale and purchase...

Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 

Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Insurance  Investment  Mergers and Acquisitions  Risk Management 


Egypt Oil & Gas 1 >>  2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | 13 | 14 | 15 | 16 | 17 | 18 | 19 | 20 | 21 | 22 | 23 | 24 |

More News

Related Links

Gulf Oil and Gas
Copyright © 2019 Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.