BP Egypt has won two new exploration blocks as a result of the 2013 EGAS bid round, where the company and its partners have committed to invest a total of $240 million in the blocks over different phases.
The Block 3 – North
BP Egypt has started drilling the Atoll-1 well offshore, which is the second exploration well in the North Demietta Offshore concession discovered by the firm last year.
The deepwater exploration well will be drilled using the six
Italian oil major Eni said it had been awarded three new exploration licences in Egypt as it grows its footprint in Africa.
State-controlled Eni said in a statement it had been the successful bidder for the lic
Egypt has signed oil and gas exploration deals worth $187 million with several Western companies and a Tunisian firm to cover seven exploration areas in the Suez Canal, Egypt's western desert, the Mediterranean sea and the Nile Delta.
Explorers are finding so little oil, many are retreating from high-risk frontier areas to safer bets like North American shale, executives at a major Norway oil conference said. This will likely force them to buy expensive discoveries once inv
Dana Gas, a leading regional private sector natural gas company, has signed an exploration deal for the North El Arish (Block 6) Concession Area, offshore the eastern Nile Delta.
The 2,980 sq km block was awarded in April 2013 as
Global oil firms, hit by one of the worst years for discovery in two decades, are about to cut exploration spending, pulling back from frontier areas and jeopardising their future reserves, industry insiders say.
Saudi Basic Industries Corp (Sabic), a leading petrochemical group, is carrying out new iron ore exploration in northern Mauritania.
The feasibility study and exploration at Atomai Mines in Zouerate is part of a joint venture agre
Oil companies are stepping up exploration in Morocco, attracted by its stability relative to other parts of North Africa and encouraged by advances in geology and technology that indicate its potential for reserves offshore.
Middle East oil and gas production growth prospects have been dimmed by a slump in exploration license awards, drilling activity and average reserves found per well over the last few years, according to analysts Wood Mackenzie.