Egypt Oil and Gas Market Update Oct 2013

Oil and Gas Market Update for covering entire month of September 2013

  • BP makes Egypt gas discovery ‐ UK oil company BP makes find at deep water East Nile Delta
  • RWE Dea launches gas production in Egypt ‐ Germany’s RWE Dea has announced its first
    production of natural gas from the Disouq concession in Egypt’s Nile Delta.
  • Apache and Sinopec in $3.1bn Egypt asset deal ‐ Apache Corporation and Sinopec International
    Petroleum Exploration and Production Corporation (SIPC) have entered into a US$3.1 billion agreement
    for the sale of a 33 per cent minority share of the US company’s Egyptian upstream business. The deal
    comes as part of a global strategic partnership between Apache and SIPC, the international arm of
    China’s Sinopec, to jointly pursue global upstream oil and gas projects. This is Sinopec’s first entrance in
    Egypt’s upstream sector.
  • Egypt and Kurdistan owe more to Dana Gas, company says ‐ In Egypt, $290 million of invoices
    have not been paid, $210 million of which is overdue.