Egypt: Eni, BP Plan More Investment in Egypt than Any Other CountrySource: www.export-egypt.com 2/16/2017, Location: Africa |
|
|
|
|
|
Eni and BP, Italian and British companies operating in the oil and natural gas excavation field, plan to invest more in Egypt than in any other country over the next five years, Bloomberg news agency reported.
Eni plans to start producing natural gas from the Zohr gas field, off Egypt’s Mediterranean coast, by the end of 2017 and plans investments of up to US$10 billion over the coming five years, Bloomberg quoted Chief Executive Officer of Eni Claudio Descalzi as saying during a press conference in Cairo Descalzi said the Zohr field production plan is proceeding as scheduled. "BP invested more in Egypt in 2016 than in any other country and will do so again this year", Bloomberg quoted the company’s CEO Bob Dudley as saying at the same event. Dudley expressed confidence in the Egyptian government and the investment opportunities for both Eni and BP in Egypt this year. Egypt plans to buy nearly 108 shipments of liquefied natural gas in 2017, at a time when its debt to international energy companies reached US$3.6 billion. Egypt was an exporter of liquefied natural gas until 2014, before power shortages resulting from political unrest rendered it an importing country, Bloomberg said. Egypt plans to promote natural gas production by 50 percent by the end of 2018, Egypt's Petroleum Minister Tarek el-Molla said during the conference. He pointed out that Egypt produced 3.8 billion cubic feet of natural gas as of the end of 2016. Molla stressed that Egypt is committed to paying its debts to international energy companies. that EGAS chief Mohamed al-Masry said 2018 would be the last year that Egypt imports gas for the domestic market and would turn to exports in 2019. |
|
|
Financials and Investment News in Egypt >> |
 |
|||||
|
Egypt >> 11/21/2024 - An International Monetary Fund (IMF) mission led by Ivanna Vladkova Hollar wrapped up in-person discussions with Egyptian authorities in Cairo regardi...
|
Egypt >> 11/21/2024 - The Engineering Export Council of Egypt (EEC) revealed that engineering industry exports increased by 25.6 percent from January to September, reaching...
|
|
Egypt >> 11/20/2024 - Prime Minister Dr. Mostafa Madbouly held a meeting this morning at the government headquarters in the New Administrative Capital with Mr. Chang Won Sa...
|
Egypt >> 11/20/2024 - Egyptian Prime Minister Moustafa Madbouly, with Mahmoud Esmat, Minister of Electricity and Renewable Energy Minister, and Sultan Al Jaber, UAE Ministe...
|
|
Egypt >> 11/20/2024 - Egypt and Australia have seen a significant surge in their bilateral trade relationship, with the trade volume increasing from $270 million in 2015 to...
|
Egypt >> 11/20/2024 - Egyptian Prime Minister Moustafa Madbouli chaired the Cabinet’s weekly meeting in the New Administrative Capital.
The Cabinet is set to add... |
| Egypt Oil & Gas 1 >> 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | 13 | 14 | 15 | 16 | 17 | 18 | 19 | 20 | 21 | 22 | 23 | 24 | 25 | 26 | 27 | 28 | 29 | 30 | 31 | 32 | 33 | 34 | 35 | 36 | 37 | 38 | 39 | 40 | 41 | 42 | 43 | 44 | 45 | 46 | 47 | 48 | 49 | 50 | 51 | 52 | 53 | 54 | 55 | 56 | 57 | 58 | 59 | 60 | 61 | 62 | 63 | 64 | 65 | 66 | 67 | 68 | 69 | 70 | 71 | 72 | 73 | 74 | 75 | 76 | 77 | 78 | 79 | 80 | 81 | 82 | 83 | 84 | 85 | 86 | 87 | 88 | 89 | 90 | |
