Egypt News Engineer Hany Dahy: 55% of Egyptâēs total area covered by Petroleum Agreements
Ministry of Petroleum FRQÂŋUPV WR WKH 3URWHFWLRQ Competition Agency its commitment to the rules of Natural Gas Sale
Hany Dahy Executive Chief of General Petroleum Authority revealed that more than 55% of the total mass of Egypt Oasis covered by Petroleum Agreements and we currently have 114 agreements, including 20 research and development agreements and 10 research agreements and 84 agreements for the development of discoveries and the number of foreign companies operating in the petroleum activity in Egypt are 77 companies.
Dr. Mona Al-Gurf head of Protection Competition Agency and Prevent Monopolistic Practices that the Agency has received conīŦrmation from the Ministry of Petroleum and beneīŦt not the ministryâēs intention to weaken the competitiveness in the sector to import natural gas Any of the contenders at the expense of the other.
Dahy assured that the Egyptian oil reserve and its condensate is 4.3 billion barrels and daily production of 670 thousand barrels and during the last īŦscal year added 200 million barrels of oil and condensate. He explained in a press statement that Egyptâēs total production of oil, gas and condensate and butane 81.2 million tons equivalent during the last īŦscal year and before the end of this year it will put a new bid that includes 15 new area of the Red Sea and the Western and Eastern Desert.
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She said in a statement that this came as a response from the ministry about the Agency queries whether it grew from information that the Ministryâēs intention to import large quantities of oil and natural gas sold at varying prices for people competing in the same market. Dr. Al-Gurf welcomed the response of the Ministry of Petroleum to the Agency where it considered a positive thing for cooperation between the two sides during the next phase and the opinion of the Agency in discussions to develop a natural gas pricing system.
November 2012
Egypt is invited to attend a meeting of the Council of the European Union (EU) in Cyprus Mr. Neoklis Sylikiotis, Cyprus Minister of Commerce, Industry and Tourism and Cypriot President Energy Affairs in the European Union delivered an invitation to Engineer Osama Kamal, Minister of Petroleum and Mineral Resources to attend the Council of the European Union which will be held in Cyprus on 12, 13 December to discuss energy issues in the region as Cyprus is the Chairman of the current session of the European Union. The Cypriot minister asked Egypt to have a speech at the opening of the meeting as a major country in the region and has long experience in the Petroleum Industry and best suited to represent the group neighboring countries to the European Union countries. This came during a joint session of talks held between the two sides Egyptian and Cypriot chaired by the ministers of the two countries in the presence of Ambassador Menha
