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
Dana Gas Egypt, a subsidiary of UAE-based Dana Gas, a top private sector natural gas company, has been awarded two onshore concessions in the Nile Delta as part of the 2014 EGAS bidding round held recently in Egypt.
A revised contract signed last week by British oil major BP and China's CNPC for Iraq's Rumaila oilfield has raised both companies' stakes in a joint venture formed to develop the field, a senior Iraqi oil official said.
Iraq signed revised contracts with foreign oil companies for two southern oilfields that reduced their production targets and extended the life of the deals, Iraqi oil officials said.
The revised deal with oil
A US judge has decided that BP Plc was "grossly negligent" and "reckless" in the Gulf of Mexico oil spill four years ago, a ruling that could add nearly $18 billion in fines to more than $42 billion in charges the company too
BP Egypt has announced its first gas from the Deka project offshore Egypt with the start of production from the Denise South-6 well at an initial rate of 50 million cubic feet per day (mmscf/d).
The Deka project is centred on the
Egypt's oil minister said on Thursday that BP'S $10 billion natural gas project in the North Alexandria concession, stalled for the past three years, had restarted and that production would begin in 2017.
Sherif Ismail tol
Egypt will pay $1.5 billion of the money it owes to foreign energy companies by the end of 2014, its oil minister said on Thursday, as the government aims to lure back wary investors to tap its reserves and boost production to meet soaring deman
Oil major BP will sign a deal worth around $20 billion later on Tuesday to supply China National Offshore Oil Corporation (CNOOC) with liquefied natural gas (LNG), BP Chief Executive Bob Dudley said at a conference in Moscow.