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Thursday, 19 April 2018

EGAS, GANOPE sign offshore drilling rig purchase agreement with Toyota

A string of news from the petroleum industry is worthy of your attention this morning, all stemming from the 9th Mediterranean Offshore Conference, which saw a number of IOCs on Tuesday — including Shell, Eni, and Edison — make commitments to expand and expedite their activities in Egypt:

EGAS and the Ganoub El Wadi Petroleum Holding Company (GANOPE) signed yesterday a USD 600 mn agreement to purchase an offshore drilling rig from Toyota Tsusho, according to an Oil Ministry statement. The rig will be used for oil and gas deepwater exploration in the Mediterranean, Gulf of Suez, and Red Sea.

Schlumberger announced it will invest USD 60 mn in a new data center in a bid to make industry information more accessible, according to Egypt GM Hussein El Ghazzawy. El Molla had signed two agreements with Schlumberger back in February, one each for the data center and a seismic survey of the Gulf of Suez.

The Oil Ministry signed two agreements yesterday with oilfield services outfit Halliburton, which will see the contractor set up an electronic platform for marketing available concessions for oil and gas exploration and production.

BP promised yesterday to begin production at its Katameya well in the North Damietta East Delta marine concession by the end of 2019 or start of 2020. The company plans to speed up its exploration works to meet the deadline, the company’s Egypt president Karim Alaa said, according to Youm7.

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