{"id":591000,"date":"2023-07-30T00:00:00","date_gmt":"2023-07-30T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2023\/07\/30\/more-oil-and-gas-exploration-in-the-med-and-gulf-of-suez\/"},"modified":"2023-07-30T00:00:00","modified_gmt":"2023-07-30T00:00:00","slug":"more-oil-and-gas-exploration-in-the-med-and-gulf-of-suez","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2023\/07\/30\/more-oil-and-gas-exploration-in-the-med-and-gulf-of-suez\/","title":{"rendered":"More oil and gas exploration in the Med and Gulf of Suez"},"content":{"rendered":"

New gas and oil exploration agreements get the thumbs up: <\/strong>Ministers greenlit three oil and gas concession agreements worth USD 319.5 mn that will see three multinational energy companies digging at least 13 wells in the Mediterranean and Gulf of Suez, cabinet sai<\/a> d<\/a> after its weekly meeting on Thursday. <\/p>\n

Exxon to drill in the Med:<\/strong> Two of the contracts went to ExxonMobil, which will partner with state gas firm EGAS to search for gas and crude oil in the offshore Cairo and Masry concessions in the Mediterranean. The US oil giant acquired both exploration blocks<\/a> earlier this year and holds 100% interest. <\/p>\n

Pico + Kufpec in the Gulf of Suez:<\/strong> The Kuwait Foreign Petroleum Exploration Company (Kufpec) , a sub sidiary of the country\u2019s state oil company, will work with Pico Petroleum (Egypt\u2019s largest independent player) and Egypt\u2019s state oil firm, the Egyptian General Petroleum Corporation (EGPC), to explore for oil in the Geisum and Tawila West concessio n in the Gulf of Suez. Pico owns 60% of the development lease while Kufpec holds the remaining 40%. <\/p>\n","protected":false},"excerpt":{"rendered":"

ExxonMobil, Kufpec and Pico Energy will partner with state energy firms to explore for hydrocarbons<\/p>\n","protected":false},"author":1,"featured_media":591001,"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":[7207],"tags":[7135,557,93,72,778,2234,125,10734,879,91,10909],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-591000","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-energy","tag-egas","tag-egyptian-general-petroleum-corporation","tag-energy","tag-enterpriseam","tag-exxonmobil","tag-foreign-exchange","tag-investment-watch","tag-kufpec","tag-new-urban-communities-authority","tag-oil-and-gas","tag-pico-energy","wpautop","entry"],"acf":{"mongo_id":"3fc0de29-51fd-4bab-92a0-27b66b27dfcd","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2023\/7\/1167.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Egypt signs USD 319.5 mn of oil and gas exploration agreements","related_issue":[590991],"teaser":"ExxonMobil, Kufpec and Pico Energy will partner with state energy firms to explore for hydrocarbons","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/7\/.d95d5653-0445-4d01-9ae1-0cd74a73ffe2.mp3"},"yoast_head":"\nMore oil and gas exploration in the Med and Gulf of Suez - 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The US company will invest a minimum USD 332 mn to drill seven wells, paying the Egyptian\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2020\/1\/731.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":589549,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/07\/05\/oil-majors-to-invest-usd-1-8-bn-here-by-2025-in-search-for-gas\/","url_meta":{"origin":591000,"position":2},"title":"Oil majors to invest USD 1.8 bn here by 2025 in search for gas","author":"enterpriseam admin","date":"5 July 2023","format":false,"excerpt":"Chevron, Eni, ExxonMobil, Shell, and BP will drill a total of 35 wells by 2025","rel":"","context":"In "Energy"","block_context":{"text":"Energy","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/energy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/7\/101.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":609120,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/10\/31\/mps-approve-fresh-borrowing-oil-exploration\/","url_meta":{"origin":591000,"position":3},"title":"MPs approve fresh borrowing, oil exploration","author":"enterpriseam admin","date":"31 October 2023","format":false,"excerpt":"The government will borrow USD 500 mn from Deutsche Bank and Bank ABC to fund healthcare and education spending","rel":"","context":"In "LEGISLATION WATCH"","block_context":{"text":"LEGISLATION WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/legislation-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/10\/1481.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":601960,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/03\/14\/exxon-considers-israeli-oil-and-gas-exploration\/","url_meta":{"origin":591000,"position":4},"title":"Exxon considers Israeli oil and gas exploration","author":"enterpriseam admin","date":"14 March 2019","format":false,"excerpt":"In a potential boost to Egypt\u2019s regional gas ambitions, Exxon considers Israeli oil and gas exploration: US oil giant ExxonMobil is considering oil and gas exploration in Israeli waters, giving a further boost to regional plans for an East Med natural gas market, a source told Reuters. Company execs reportedly\u2026","rel":"","context":"In "Speed Round"","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":569163,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/02\/16\/egypt-inks-its-first-westmed-oil-gas-exploration-agreements-as-egyps-wraps-up\/","url_meta":{"origin":591000,"position":5},"title":"Egypt inks its first WestMed oil, gas exploration agreements as EGYPS wraps up","author":"enterpriseam admin","date":"16 February 2020","format":false,"excerpt":"Egypt inks its first WestMed oil, gas exploration agreements: The Oil Ministry signed yesterday MoUs with five international oil companies \u2014 Royal Dutch Shell, Chevron, BP, Total, and ExxonMobil \u2014 for deepwater oil and gas exploration and production off its western Mediterranean coast, Minister Tarek El Molla told Sky News\u2026","rel":"","context":"In "Speed Round"","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":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/591000","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=591000"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/591000\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/590991"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/591001"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=591000"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=591000"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=591000"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=591000"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=591000"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}