“We didn’t yet set a date, however we are committed,” he said, speaking at the Egypt Petroleum Show in Cairo. “We are going to have shortly a repayment schedule agreement with partners.”
El Molla’s comments came days after Dana Gas announced that it would freeze investments in the country over unpaid debts amounting to USD 265 million, becoming the latest foreign energy company to do so.
Though Egypt holds some 3.5 billion barrels of oil reserves and 6.32 tcm (223 tcf) of gas reserves, a shortage of investment following several years of turmoil has led the country to become one of the top 10 LNG importers in the world in recent months.
The UK's hydrocarbons regulator has awarded 31 new exploration licences in the country's North Sea waters, Reuters reported on Friday Read More
ExxonMobil announced the closing of its USD 60-billion acquisition of Pioneer Natural Resources on Friday, a move that solidifies its… Read More
BP-Eni joint venture Azule Energy has entered a strategic farm-in agreement with Rhino Resources in Namibia's offshore Orange Basin, the… Read More
Africa-focused energy group Chariot has spudded the RZK-1 exploration well on the Gaufrette prospect at the Loukos Onshore licence in… Read More
Touchstone Exploration has acquired Trinidad-focused Trinity Exploration & Production in an all-shares deal, the Canadian upstream player said on Wednesday Read More
ExxonMobil is "optimistic and pushing forward" with the Rovuma LNG project in Mozambique and eyes an FID by the year's… Read More
This website uses cookies.