Subscribe to our free daily newsletters
  Oil and Gas News from OilGasDaily.Com  




Subscribe to our free daily newsletters



OIL AND GAS
Baker Hughes gets in on Egyptian natural gas bonanza
by Daniel J. Graeber
Washington (UPI) Sep 11, 2017


A contract to provide services for the giant Zohr natural gas field off the Egyptian coast is a win-win for its economy and our business, Baker Hughes said.

Drilling services company Baker Hughes, a GE company, said during the weekend it secured a contract from Petrobel, a joint venture between a subsidiary of Italian energy company Eni and the Egyptian General Petroleum Corp., for work on underwater production systems for the Zohr field.

"The Zohr field is one of the most significant developments of its kind, and through this project we can show the efficiency gains that such complex projects can achieve through our enhanced portfolio," Lorenzo Simonelli, the president and CEO at Baker Hughes, said in a statement. "This project has the potential to meet Egypt's growing gas demand and save the country billions of dollars that would otherwise be spent on importing gas."

Eni made its initial gas discovery in the Zohr field in August 2015 and quickly described it as the largest made in regional waters and potentially the largest in the world. According to consultant group Wood Mackenzie, the Egyptian gas market "will be inundated" with new volumes from some of those discoveries and production levels should reach a record of 7.3 billion cubic feet per day within six years.

The government in Cairo aims to craft the country as a regional hub for gas and liquefied natural gas, though availability at the domestic sector could complicate growth.

Eni last year sold off a 30 percent stake in the Egyptian basin to Russian energy company Rosneft, which said it would facilitate gas exports from Egypt for the European market.

Egyptian Petroleum Minister Tarek ElMolla said developments at the Zohr natural gas field are boosting the national economy and domestic energy sector.

"Maximizing domestic energy resources and optimizing reliability of their supplies are core elements of Egypt's vision," he said.

OIL AND GAS
Cuban oil drilling program low on funds
Washington (UPI) Sep 11, 2017
An effort to raise up to $4.8 million to help fund drilling operations at a reservoir in Cuba fell well short of its goal, Melbana Energy Ltd. said. Melbana is one of the few Western companies, and the only one listed on Australia's stock exchange, with an established footprint in Cuba. It initiated a push last month to raise capital for its preliminary efforts and said that through the ... read more

Related Links
All About Oil and Gas News at OilGasDaily.com


Thanks for being here;
We need your help. The SpaceDaily news network continues to grow but revenues have never been harder to maintain.

With the rise of Ad Blockers, and Facebook - our traditional revenue sources via quality network advertising continues to decline. And unlike so many other news sites, we don't have a paywall - with those annoying usernames and passwords.

Our news coverage takes time and effort to publish 365 days a year.

If you find our news sites informative and useful then please consider becoming a regular supporter or for now make a one off contribution.

SpaceDaily Contributor
$5 Billed Once


credit card or paypal
SpaceDaily Monthly Supporter
$5 Billed Monthly


paypal only

Comment using your Disqus, Facebook, Google or Twitter login.

Share this article via these popular social media networks
del.icio.usdel.icio.us DiggDigg RedditReddit GoogleGoogle

OIL AND GAS
Could switchgrass help China's air quality?

Reusable ruthenium-based catalyst could be a game-changer for the biomass industry

Center for Biorenewable Chemicals introduces idea for new molecules,

Technique could aid mass production of biodegradable plastic

OIL AND GAS
Defects in next-generation solar cells can be healed with light

Engineers develop tools to share power from renewable energy sources during outages

New records for the solar cell of tomorrow

NREL, Swiss scientists power past solar efficiency records

OIL AND GAS
Light-Based Method Improves Practicality and Quality of Remote Wind Measurements

Texas makes wind energy strides

UK wind electricity cheaper than nuclear: data

Saudi Arabia shortlists 25 bidders for major wind plant

OIL AND GAS
Jacobs JV wins support contract for nuclear research center

PM opens country's fifth nuclear power plant

China and Brazil sign agreements on nuclear power

Kazakhstan inaugurates IAEA-backed nuclear fuel bank

OIL AND GAS
Periodic table of ecological niches could aid in predicting effects of climate change

Australia has hottest winter on record

Researchers tackle methane emissions with gas-guzzling bacteria

Methane from tundra, ocean floor didn't spike during previous natural warming period

OIL AND GAS
US House passes bill to clear path for self-driving cars

Post-Harvey Houston faces a car crunch

China mulls petrol car ban, boosting electric vehicles

Fuel economy standards cheaper, more beneficial than previously believed

OIL AND GAS
Slow recovery for Iraq's Mosul after IS ouster

Iraq faces vast challenges despite victories over IS: experts

Iraq strikes major victory over Jihadists; As IS slides from defeat to defeat

Jordan, Iraq reopen only border crossing; Iraqi forces close in on last jihadist ISIS stronghold

OIL AND GAS
Trump keeps Iran deal, but threatens more sanctions

S. Korea seeks rare talks with North to ease military tensions

US sending mixed messages on Iran nuclear deal: Zarif

US-China citizen gets 10 years for spying in Iran; 2 Iranians charged in US over hacking




Memory Foam Mattress Review
Newsletters :: SpaceDaily :: SpaceWar :: TerraDaily :: Energy Daily
XML Feeds :: Space News :: Earth News :: War News :: Solar Energy News






The content herein, unless otherwise known to be public domain, are Copyright 1995-2017 - Space Media Network. All websites are published in Australia and are solely subject to Australian law and governed by Fair Use principals for news reporting and research purposes. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA news reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. All articles labeled "by Staff Writers" include reports supplied to Space Media Network by industry news wires, PR agencies, corporate press officers and the like. Such articles are individually curated and edited by Space Media Network staff on the basis of the report's information value to our industry and professional readership. Advertising does not imply endorsement, agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. Privacy Statement