Egypt’s Minister of Petroleum and Mineral Resources, Karim Badawi, along with several petroleum leaders, inspected the development of the West Delta fields in the Mediterranean. The focus was on the offshore drilling of two new natural gas wells at the Raven field, developed by BP. The production from the two wells, West Raven-4 and West Raven, is expected to increase to 200 million cubic feet per day (mmcf/d) of natural gas and 8,000 barrels per
The International Monetary Fund (IMF) projects that TotalEnergies’ massive liquefied natural gas (LNG) project in Cabo Delgado, northern Mozambique, will resume development in 2024, with first exports anticipated within four years. According to the IMF’s recent report on the fourth review of the Extended Credit Facility (ECF) program, the onshore LNG project led by TotalEnergies is slated to restart next year. The report, released this month, notes that while the official resumption of the development
Egypt plans to drill 110 exploratory gas and oil wells, investing $1.2 billion during the 2024–2025 fiscal year, according to Minister Karim Badawi. In a meeting with a parliamentary committee reviewing the new government’s program, Badawi stated that by 2030, Egypt aims to have drilled a total of 586 exploratory wells for gas and oil, with a cumulative investment of $7.2 billion. Regarding exploration activities, the minister explained that there are currently 145 active commitment
Egypt’s Cabinet has approved a $200 million investment to tackle the ongoing electricity shortage crisis. The funding involves agreements between the Egyptian Natural Gas Holding Company (EGAS), the Egyptian General Petroleum Corporation (EGPC), and several international and national companies. These deals focus on exploring and exploiting natural gas and crude oil in regions such as the North Port Fouad Offshore Area and the South Nour Offshore Area in the Mediterranean Sea, as well as the
During a meeting with Egyptian Minister of Petroleum and Mineral Resources Karim Badawi, Eni’s COO Guido Brusco announced the Italian energy firm’s plans to drill new wells in its Egyptian concessions to increase production. Minister Badawi emphasized the petroleum sector’s enthusiasm for further joint achievements with Eni, particularly in enhancing production and developing oil and gas resources. The meeting also delved into potential cooperation on emissions reduction projects in the natural gas industry, following the
South Africa’s industrial gas users are planning to form a company to secure their supply after Sasol Ltd., the sole provider, announced it will halt gas flow in 2026. Sasol has been supplying gas to customers through the 865-kilometer Rompco pipeline from its fields in Mozambique. However, the company has stated it will stop the supply in two years, prompting concerns among industrial users. The Industrial Gas Users Association of Southern Africa, which includes members
TotalEnergies has notified South Africa’s petroleum regulator of its intention to withdraw from the 11B/12B offshore gas field. In 2019, TotalEnergies discovered two significant gas deposits in Block 11B and 12B off the southern coast of South Africa. The decision to withdraw is a significant setback for the country, which had hoped to utilize the gas to supply the dormant national gas-to-liquid refinery in Mossel Bay. Negotiations over gas pricing have stalled for years, while
Sonangol’s target by 2027 is to produce 450 megawatts (MW) of electricity from clean and renewable sources. Currently, 25.84 MW are already in production, thanks to increased gas availability in Angola and the development of infrastructure. The plan includes constructing new gas facilities at Barra do Dande and Soyo, and completing and rehabilitating existing facilities, focusing on increasing storage capacities in Cabinda, Namibe, Malanje, Huambo, and Moxico. Additionally, Sonangol is consolidating LPG supply via rail
Between January and May, Angola consumed a total of 201,133 metric tons of cooking gas (LPG), with projections forecasting growth to 615 to 680 metric tons. This increase is due to significant investments made by Sonangol to expand production across the entire national territory. These statistics are detailed in a report by Sonagás, a subsidiary of Sonangol specializing in the distribution of cooking gas. For the 2024 economic year, the report projects a consumption deficit
In the first quarter of the current year, Angola’s exported goods generated a substantial revenue of $8.8 billion. A significant portion of this revenue, $8.2 billion, came from the sale of crude oil and gas, while $431 million was earned from the commercialization of ores. Economist Daniel Sapateiro presented these figures in Luanda during the 2nd International Trade Forum. The event brought together sector experts and government officials to discuss “The Current Context of Foreign
