{"id":569106,"date":"2020-02-13T04:05:38","date_gmt":"2020-02-13T04:05:38","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2020\/02\/13\/egypt-signs-several-oil-and-gas-agreements-mulls-even-more\/"},"modified":"2020-02-13T04:05:38","modified_gmt":"2020-02-13T04:05:38","slug":"egypt-signs-several-oil-and-gas-agreements-mulls-even-more","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2020\/02\/13\/egypt-signs-several-oil-and-gas-agreements-mulls-even-more\/","title":{"rendered":"Egypt signs several oil and gas agreements, mulls even more"},"content":{"rendered":"<p><a class=\"content-anchor\" id=\"tldr-story-02\"><\/a> <strong>The volume of oil and gas news stepped up a gear yesterday<\/strong> amid a flurry of activity on the second day of the Egypt Petroleum Show (EGYPS). The key takeaways and announcements:<\/p>\n<p><strong>ECHEM signs agreement with previously unknown English consortium for USD 8.5 bn Alamein petrochem facility:<\/strong> The Egyptian Petrochemicals Holding Company (ECHEM) signed an agreement with a consortium of <a href=\"https:\/\/www.bswgroupholdings.co.uk\/\">BSW Group<\/a> and <a href=\"https:\/\/www.shardcapital.com\/\">Shard Capital<\/a> to develop a refinery and petrochemical complex in New Alamein worth some USD 8.5 bn, <a href=\"https:\/\/alborsaanews.com\/2020\/02\/12\/1295592\">the local press reports<\/a>. The facility will produce 1.5 mn tonnes of petrochemical products and another 1 mn tonnes of petroleum products, including kerosene and mazut, per year.<\/p>\n<p><strong><a href=\"https:\/\/www.neptuneenergy.com\/\">Neptune Energy<\/a><\/strong><strong> also signed with Egypt a USD 35 mn oil and gas exploration agreement<\/strong> that will see the company drill three exploration wells in the North West El Amal concession in the Gulf of Suez, <a href=\"https:\/\/ent.news\/2020\/2\/Oil-agreement.pdf\">according to an official statement (pdf)<\/a>.<\/p>\n<p><strong>Chevron signs agreements with EGPC, AMOC:<\/strong> US oil major Chevron signed an agreement with the Alexandria Mineral Oils Company (AMOC) to cooperate on manufacturing and selling petroleum products, in addition to a separate contract with the Egyptian General Petroleum Corporation (EGPC) to improve efficiency of refineries and ports, <a href=\"https:\/\/bit.ly\/31VdXoE\">Cabinet said<\/a>.<\/p>\n<p><strong>Italy\u2019s Edison has started drilling an exploratory well in deepwater acreage in Egypt<\/strong> not far from other \u201cgiant gas fields in the East Mediterranean,\u201d Energean CEO Mathios Rigas said <a href=\"https:\/\/www.almasryalyoum.com\/news\/details\/1470774\">on the sidelines of the event<\/a>. Energean is acquiring Edison\u2019s Egypt assets.The well is located in the <a href=\"https:\/\/energyegypt.net\/tag\/north-thekah\/\">North Thekah<\/a> offshore concession, which is close to the Zohr, Aphrodite, Tamar, and Leviathan fields. Drilling should continue for 40-60 days, and results should show sometime in the next four to six weeks, Rigas added. <a href=\"https:\/\/af.reuters.com\/article\/egyptNews\/idAFL8N2AC4UH\">Reuters also took note<\/a> of the story.<\/p>\n<p>Other activity at the conference yesterday:<\/p>\n<ul>\n<li><strong>The Oil Ministry agreed with the United States Trade and Development Agency<\/strong> to cooperate on developing energy infrastructure and increasing involvement of the private sector.<\/li>\n<li><strong>Bechtel <\/strong><strong><a href=\"https:\/\/bit.ly\/3bIdPgK\">inked agreements<\/a><\/strong><strong> with Petrojet and Enppi <\/strong>on project management, engineering design services, and construction.<\/li>\n<li>BP signed an agreement with EGPC to <strong>cooperate with Egyptian companies on bunkering services<\/strong>.<\/li>\n<\/ul>\n<p><strong>El Molla welcomed the US\u2019 request to join the East Mediterranean Gas Forum<\/strong> as a permanent observer. The news emerged from a meeting with US Ambassador to Egypt Jonathan Cohen, who accompanied senior energy officials from the state and energy departments to meet El Molla. The US had formally asked to be a permanent observer to the forum while France made an official request to join as a member<a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/26f655dd-7dde-4517-86ad-8fd190f86a11\">last month<\/a>.<\/p>\n<p><strong>El Molla held meetings with a number of international companies on the sidelines of the conference <\/strong>\u2014 including <a href=\"https:\/\/www.almasryalyoum.com\/news\/details\/1470751\">Bechtel<\/a>, <a href=\"http:\/\/bit.ly\/2tQnpNi\">Total<\/a>, <a href=\"http:\/\/bit.ly\/2OPdHCl\">Apache<\/a>, Italy\u2019s <a href=\"http:\/\/bit.ly\/2uI6ugh\">Tecnimont<\/a>, Austrian firm <a href=\"http:\/\/bit.ly\/2wcD76k\">OMV.<\/a> and Norwegian <a href=\"http:\/\/bit.ly\/3bqWUPs\">Equinor Energy Ventures<\/a>.<\/p>\n<p>In non-EGYPS oil and gas news:<\/p>\n<ul>\n<li><strong>The UAE\u2019s Adnoc Distribution is \u201cvery actively looking at\u201d opening gas stations in Egypt<\/strong>, COO Mohamed Al Hashemi <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2020-02-12\/adnoc-distribution-plans-record-investment-to-add-gas-stations?sref=mmeFTDW1\">told Bloomberg<\/a>.<\/li>\n<li><strong>Israel is looking for partners to build a floating LNG platform in the east Mediterranean<\/strong> and potentially explore for oil and gas in ultra-deep waters, <a href=\"https:\/\/www.reuters.com\/article\/us-israel-natgas-leviathan\/israels-leviathan-gas-group-seeks-partners-to-expand-idUSKBN20612U\">Reuters reports<\/a><\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>The volume of oil and gas news stepped up a gear yesterday amid a flurry of activity on the second day of the Egypt Petroleum Show (EGYPS). The key takeaways and announcements: ECHEM signs agreement with previously unknown English consortium for USD 8.5 bn Alamein petrochem facility: The Egyptian Petrochemicals Holding Company (ECHEM) signed an [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":569107,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[8572],"tags":[915,1001,196,4582,780,7097,1890,557,4584,72,4580,91,4581,4583,2380,7103,132,117],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-569106","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-speed-round","tag-apache","tag-bechtel","tag-bp","tag-bsw-group","tag-chevron","tag-development","tag-echem","tag-egyptian-general-petroleum-corporation","tag-el-hamra","tag-enterpriseam","tag-equinor-energy-ventures","tag-oil-and-gas","tag-omv","tag-shard-capital","tag-speed-round","tag-suez-canal","tag-trade","tag-us","wpautop","entry"],"acf":{"mongo_id":"1fee9d0c-6605-4285-85d4-d0e428e3c35d","is_powered_by":true,"section_story_id":"6fa54bf6-12d1-4a3b-aec8-8679ee5ada4a","story_type":"1","photo_url":"https:\/\/ent.news\/2020\/2\/183.jpg","photo_position":"above","related_issue":[569098],"teaser":"","voice_url":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Egypt signs several oil and gas agreements, mulls even more - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2020\/02\/13\/egypt-signs-several-oil-and-gas-agreements-mulls-even-more\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Egypt signs several oil and gas agreements, mulls even more\" \/>\n<meta property=\"og:description\" content=\"The volume of oil and gas news stepped up a gear yesterday amid a flurry of activity on the second day of the Egypt Petroleum Show (EGYPS). The key takeaways and announcements: ECHEM signs agreement with previously unknown English consortium for USD 8.5 bn Alamein petrochem facility: The Egyptian Petrochemicals Holding Company (ECHEM) signed an [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2020\/02\/13\/egypt-signs-several-oil-and-gas-agreements-mulls-even-more\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2020-02-13T04:05:38+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2020\/2\/183.jpg?fit=%2C&ssl=1\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2020\/02\/13\/egypt-signs-several-oil-and-gas-agreements-mulls-even-more\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2020\/02\/13\/egypt-signs-several-oil-and-gas-agreements-mulls-even-more\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Egypt signs several oil and gas agreements, mulls even more\",\"datePublished\":\"2020-02-13T04:05:38+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2020\/02\/13\/egypt-signs-several-oil-and-gas-agreements-mulls-even-more\/\"},\"wordCount\":511,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2020\/02\/13\/egypt-signs-several-oil-and-gas-agreements-mulls-even-more\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2020\/2\/183.jpg?fit=%2C&ssl=1\",\"keywords\":[\"Apache\",\"Bechtel\",\"BP\",\"BSW Group\",\"Chevron\",\"development\",\"ECHEM\",\"Egyptian General Petroleum Corporation\",\"El Hamra\",\"EnterpriseAM\",\"Equinor Energy Ventures\",\"oil and gas\",\"OMV\",\"Shard Capital\",\"SPEED ROUND\",\"Suez Canal\",\"trade\",\"US\"],\"articleSection\":[\"Speed Round\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2020\/02\/13\/egypt-signs-several-oil-and-gas-agreements-mulls-even-more\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2020\/02\/13\/egypt-signs-several-oil-and-gas-agreements-mulls-even-more\/\",\"name\":\"Egypt signs several oil and gas agreements, mulls even more - 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The agreement, signed on\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2020\/2\/163.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":564345,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/08\/25\/look-out-methanex\/","url_meta":{"origin":569106,"position":2},"title":"Look out Methanex","author":"enterpriseam admin","date":"25 August 2021","format":false,"excerpt":"The Oil Ministry has formed a new state-owned petrochemicals company that will join Methanex in producing methanol in Egypt. A shareholder agreement has been signed establishing Misr Methanol and Petrochemicals, which will manufacture methanol, ammonia, and other petrochemicals, the Oil Ministry announced today in a statement.Around USD 1.6 bn will\u2026","rel":"","context":"In &quot;SPEED ROUND: ENERGY&quot;","block_context":{"text":"SPEED ROUND: ENERGY","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round-energy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/8\/525.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":600216,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/01\/22\/egypts-planned-usd-8-5-bn-alamein-refining-complex-to-produce-3-4-mn-tonnes\/","url_meta":{"origin":569106,"position":3},"title":"Egypt\u2019s planned USD 8.5 bn Alamein refining complex to produce 3.4 mn tonnes","author":"enterpriseam admin","date":"22 January 2019","format":false,"excerpt":"The planned USD 8.5 bn petroleum refining complex in New Alamein is expected to produce some 3.4 mn tonnes of refined crude per year, according to an Oil Ministry statement. State-owned Egyptian Petrochemical Holding Company completed its studies on the complex, which is set to come online in 2024, last\u2026","rel":"","context":"In &quot;Energy&quot;","block_context":{"text":"Energy","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/energy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":641228,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/09\/17\/usd-3-bn-petrochemicals-plant-to-begin-production-in-2021\/","url_meta":{"origin":569106,"position":4},"title":"USD 3 bn petrochemicals plant to begin production in 2021","author":"enterpriseam admin","date":"17 September 2017","format":false,"excerpt":"USD 3 bn petchem plant to begin production in 2021. A USD 3 bn plant being built by the state\u2019s Egyptian Petrochemicals Holding Company (ECHEM) in the Suez Canal Economic Zone is expected to begin production in 2021, ECHEM head Mohamed Saafan said on Friday, Al Mal reports. ECHEM is\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":546495,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/05\/18\/egypt-inks-agreement-with-emirati-company-to-produce-biofuel\/","url_meta":{"origin":569106,"position":5},"title":"Egypt inks agreement with Emirati company to produce biofuel","author":"enterpriseam admin","date":"18 May 2022","format":false,"excerpt":"Egypt to partner with Emirati company to produce biofuels: State-owned Egyptian Petrochemicals Holding Company (ECHEM) signed an agreement with the UAE\u2019s Rega Energy to produce algae oil, the Oil Ministry announced in a statement yesterday, without disclosing the details of the agreement. 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