Page 11 - AfrOil Week 30

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Idku ramps up exports
Egypt’s Idku LNG plant has increased throughput to 750mn cf per day, according
to Egyptian Natural Gas Holding Company (EGAs). is is up by 250mn cf per day, driven by increases from the Giza and Fayoum elds. Exports had been running at 500mn cf per day, Energy Egypt reported last week.
Quoting an EGAs source, the report said surplus gas was being directed to Idku, when supplies were running above the norm. Gas typically ows into the national gas grid. Egypt has returned to self su ciency in terms of gas needs and concurrently is becoming a larger gas exporter.
ere are plans to hook up supplies from Zohr, North Alexandria and Burullus, the report said. Gas ows are also expected from Cyprus and Israel.
Egypt signs training deal with Halliburton
Minister of Petroleum and Mineral Resources Tarek El-Molla held a session of talks with Mr. Joe Rainy, President of Halliburton International for the Eastern Hemisphere and the delegation accompanying him, where the discussed the joint cooperation between the two sides and means of increasing it over the coming period.
During the talks, the two sides discussed cooperation in the eld of applying the
latest advanced technologies to enhance
the petroleum drilling activities e ciency and improve eld productivity, along with supporting occupational safety and health activities at production sites. Minister of Petroleum and Mineral Resources Eng. Tarek El-Molla and Chief Executive of Halliburton
International also witnessed a Memorandum of Understanding signature to develop
the capacities of human cadres within the program of training young and medium leaders in the context of the Petroleum sector’s Modernization Project.
e agreement was signed by Osama Mobarez, the Minister’s Undersecretary for Technical O ce A airs and Colby Fuser,
Vice President of Halliburton Company in Egypt & Libya, in the presence of Geo. Ashraf Farag, First Undersecretary of the Ministry for Agreements and Exploration, Eric Carrie, Executive Vice President of Halliburton for Global Business Lines, Ahmed Kenawi, senior Vice President of Halliburton for the Middle East and North Africa Region.
Egypt mInIstRy of pEtRolEUm, july 21, 2019
El-Molla, Perry hold talks
Minister of Petroleum and Mineral Resources Tarek El-Molla received Us Energy secretary Rick Perry on his rst visit to Cairo, Francis Vanun, Us Assistant secretary of state for Energy and omas Goldberger, Acting Us Ambassador to Cairo and the accompanying delegation. e meeting discussed arrangements for the conference Ministerial meeting of the Eastern Mediterranean Gas Forum, which will be hosted by Cairo, as well as ways to support and enhance co-operation between Egypt and the United states of America.
El-Molla pointed out that the participation of the Us secretary in the meetings of the Forum as an observer gives a clear and important indication of support for the United states of America and give payments to contribute to the achievement of the objectives assigned to the Forum.
He also stressed that the positive changes witnessed by the oil sector in Egypt encouraged many major American companies
to work and invest for the rst time in Egypt in the research and exploration activities, where ExxonMobil has acquired concession areas and seeks to expand this activity.
For his part, the Us minister stressed the
role of Egypt as a reliable source of energy, pointing out to provide all the expertise and technologies to Egypt to enhance its natural position as an important energy centre in
the region. ere is a strong willingness and willingness of Us companies to expand, invest and work in Egypt.
He added that the participation of the Us
the East Mediterranean Gas Forum comes in support of the partnership between it and the countries of the Eastern Mediterranean and the use of energy to achieve peace.
Egypt mInIstRy of pEtRolEUm, july 24, 2019
Rockhopper to sell Abu Sennan
Rockhopper Exploration is pleased to announce that it has signed a share purchase agreement (sPA) with United Oil and Gas for the sale of Rockhopper Egypt Pty Limited for consideration of Us$16 million. e key asset of Rockhopper Egypt Pty Limited is
a 22% working interest in the Abu sennan concession.
Under the terms of the sPA, the consideration will be satis ed by a payment by United of not less than Us$11 million in cash at completion.
In order to satisfy the cash component
of the consideration, United has announced a prepayment nancing structure of up to Us$8 million with BP. In addition, United has announced the intention to raise
capital through the issue of new shares simultaneously to the proposed acquisition. A proportion of such placement proceeds will be used to make a further cash payment to Rockhopper shortly a er completion. Any shortfall between the headline consideration of Us$16 million and the cash payments from United will be satis ed in new United shares being issued to Rockhopper. e Consideration shares issued to Rockhopper will be priced at the price at which United issue new shares as part of their proposed capital raise.
RoCKHoppER ExploRAtIon, july 23, 2019
TGS working on Red Sea reprocessing
In Q2, TGs continued the collaboration with WesternGeco on the reprocessing of 3,600
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