UK house asking prices see sharpest drop since 2001    Egypt plans sugar mills upgrade to curb water pollution    Roche helps Egypt expand digital pathology and AI diagnostics    Egypt's residential property prices soar up to 30% in H1 2025    Cairo Capital Developments delivers first phase of Lake West 1    Al-Sisi meets US CENTCOM chief to discuss military ties, Gaza ceasefire    SCO partnership supports Egypt's modernization, regional stability: Chinese ambassador    New massacre of aid seekers in Gaza amid escalation, worsening starvation crisis    Egypt to host Gaza reconstruction talks after ceasefire secured    Golden View launches TO-GTHER mixed-use project in New Cairo    Two militants killed in foiled plot to revive 'Hasm' operations: Interior ministry    58 days that exposed IMF's contradictions on Egypt    Egypt foils terrorist plot, kills two militants linked to Hasm group    Egypt, Somalia discuss closer environmental cooperation    Egypt's Health Minister reviews upgrades at Gustave Roussy Hospital    Giza Pyramids' interior lighting updated with new LED system    Sandoz Egypt introduces OMNITROPE 15mg biosimilar growth hormone for the treatment of short stature    Egypt's EHA, Huawei discuss enhanced digital health    Egypt's EDA explores pharma cooperation with Belarus    Egypt expresses condolences to Iraq over fire tragedy    Foreign, housing ministers discuss Egypt's role in African development push    Korea Culture Week in Egypt to blend K-Pop with traditional arts    CIB finances Giza Pyramids Sound and Light Show redevelopment with EGP 963m loan    Egypt, Uruguay eager to expand trade across key sectors    Egypt reveals heritage e-training portal    Three ancient rock-cut tombs discovered in Aswan    Sisi launches new support initiative for families of war, terrorism victims    Egypt expands e-ticketing to 110 heritage sites, adds self-service kiosks at Saqqara    Egypt's Irrigation Minister urges scientific cooperation to tackle water scarcity    Palm Hills Squash Open debuts with 48 international stars, $250,000 prize pool    Egypt's Democratic Generation Party Evaluates 84 Candidates Ahead of Parliamentary Vote    On Sport to broadcast Pan Arab Golf Championship for Juniors and Ladies in Egypt    Golf Festival in Cairo to mark Arab Golf Federation's 50th anniversary    Germany among EU's priciest labour markets – official data    Paris Olympic gold '24 medals hit record value    A minute of silence for Egyptian sports    Russia says it's in sync with US, China, Pakistan on Taliban    It's a bit frustrating to draw at home: Real Madrid keeper after Villarreal game    Shoukry reviews with Guterres Egypt's efforts to achieve SDGs, promote human rights    Sudan says countries must cooperate on vaccines    Johnson & Johnson: Second shot boosts antibodies and protection against COVID-19    Egypt to tax bloggers, YouTubers    Egypt's FM asserts importance of stability in Libya, holding elections as scheduled    We mustn't lose touch: Muller after Bayern win in Bundesliga    Egypt records 36 new deaths from Covid-19, highest since mid June    Egypt sells $3 bln US-dollar dominated eurobonds    Gamal Hanafy's ceramic exhibition at Gezira Arts Centre is a must go    Italian Institute Director Davide Scalmani presents activities of the Cairo Institute for ITALIANA.IT platform    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



BG delays linking 150m cubic feet daily for production to 2016
Published in Daily News Egypt on 18 - 02 - 2015

British Gas (BG) has delayed linking two 9A+ wells for production, which will add approximately 150m cubic feet per day, to 2016 instead of this year.
A senior official at the Egyptian Natural Gas Holding Company (EGAS) revealed that the Rashid Petroulem Co's foreign partners changed the names of the two wells in the plan into 9B+. They will be linked in mid-2016 with the wells of phase 9B.
He added that BG transferred linking the two wells for production to next year for the new oil prices, currently being negotiated with the Egyptian government, to be applied.
EGAS chairman Khaled Abdel Badie emphasised that BG has not yet finished linking the wells of the 9A phase, and the remaining wells will be linked next year.
He noted that the agreed-upon plan between the Ministry of Petroleum and BG provided for the completion of linking the wells of phase 9A completely for production in October 2014 at the latest.
Abdel Badie pointed out that BG linked one of the wells of the 9A stage for production in January.
The foreign partners delayed linking several wells for production, noting that the cost of drilling has declined by nearly 50% as a result of the current decrease of rental rates for drilling rigs.
An EGAS official clarified that the rental rates of drilling rigs decreased as a result of weak demand in other countries. They reduced the number of wells drilled annually because of the decline of crude prices in the global markets.
He said that the total number of projects delayed by operating foreign companies exceeds 1bn cubic feet of oil daily. The most prominent of these is phase 9B of BG, whose production accounts for 500m cubic feet, and was delayed to the fiscal year 2016/2017.


Clic here to read the story from its source.