Egypt’s General Authority for Petroleum (EGPC) plans to open a new bid round for onshore oil blocks, as the North African’s country seeks to lower energy imports and return to being an oil and gas exporter, the country’s oil minister said.
“EGPC’s onshore bid round will be before year end, nine to ten blocks will be offered from the Western desert and Eastern blocks,” Tarek El Molla said at the Abu Dhabi International Petroleum Exhibition and Conference (Adipec) on Monday.
Egypt had become an energy importer in the last few years amid plunging oil and gas production and an uptick in consumption.
Last year it held two oil bid rounds as part of efforts to ramp up production and return to self-sufficiency.
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Read more:
Egypt to hold auction for oil exploration
Egypt opening its gas market will fuel growth
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The minister confirmed that production from the massive Zohr offshore gas field is on track to start by the end of this year, which will help wean the country off imports of liquefied natural gas (LNG). The field, which was discovered by Italy's Eni in 2015, is estimated to hold 30 trillion cubic feet of gas.
“We don’t need more discoveries to restart LNG production,” said Mr El Molla. “We have sufficient reserves. We have plenty of projects, which are divided into several phases and we’re undertaking those in order to increase production and to shortly stop importing LNG.”
Mr El Molla also said British oil major BP is committed to the second phase of the West Nile Delta gas development, with production expected to commence in 2019.
BP holds a 82.75 per cent stake in the project that will produce 1.5 billion cubic feet a day of gas when complete, equivalent to 30 per cent of Egypt’s current gas needs.
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- Golden circle - Dh995
- Floor Standing - Dh495
- Lower Bowl Platinum - Dh95
- Lower Bowl premium - Dh795
- Lower Bowl Plus - Dh695
- Lower Bowl Standard- Dh595
- Upper Bowl Premium - Dh395
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AndhaDhun
Director: Sriram Raghavan
Producer: Matchbox Pictures, Viacom18
Cast: Ayushmann Khurrana, Tabu, Radhika Apte, Anil Dhawan
Rating: 3.5/5
COMPANY%20PROFILE%20
%3Cp%3E%3Cstrong%3ECompany%20name%3A%20%3C%2Fstrong%3EAlmouneer%3Cbr%3E%3Cstrong%3EStarted%3A%3C%2Fstrong%3E%202017%3Cbr%3E%3Cstrong%3EFounders%3A%3C%2Fstrong%3E%20Dr%20Noha%20Khater%20and%20Rania%20Kadry%3Cbr%3E%3Cstrong%3EBased%3A%20%3C%2Fstrong%3EEgypt%3Cbr%3E%3Cstrong%3ENumber%20of%20staff%3A%20%3C%2Fstrong%3E120%3Cbr%3E%3Cstrong%3EInvestment%3A%20%3C%2Fstrong%3EBootstrapped%2C%20with%20support%20from%20Insead%20and%20Egyptian%20government%2C%20seed%20round%20of%20%3Cbr%3E%243.6%20million%20led%20by%20Global%20Ventures%3Cbr%3E%3C%2Fp%3E%0A
What is double taxation?
- Americans living abroad file taxes with the Internal Revenue Service, which can cost hundreds of dollars to complete even though about 60 per cent do not owe taxes, according to the Taxpayer Advocate Service
- Those obligations apply to millions of Americans residing overseas – estimates range from 3.9 million to 5.5 million – including so-called "accidental Americans" who are unaware they hold dual citizenship
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The specs
Engine: 1.5-litre turbo
Power: 181hp
Torque: 230Nm
Transmission: 6-speed automatic
Starting price: Dh79,000
On sale: Now
The specs: 2018 Nissan Patrol Nismo
Price: base / as tested: Dh382,000
Engine: 5.6-litre V8
Gearbox: Seven-speed automatic
Power: 428hp @ 5,800rpm
Torque: 560Nm @ 3,600rpm
Fuel economy, combined: 12.7L / 100km
Day 1 results:
Open Men (bonus points in brackets)
New Zealand 125 (1) beat UAE 111 (3)
India 111 (4) beat Singapore 75 (0)
South Africa 66 (2) beat Sri Lanka 57 (2)
Australia 126 (4) beat Malaysia -16 (0)
Open Women
New Zealand 64 (2) beat South Africa 57 (2)
England 69 (3) beat UAE 63 (1)
Australia 124 (4) beat UAE 23 (0)
New Zealand 74 (2) beat England 55 (2)
Farasan Boat: 128km Away from Anchorage
Director: Mowaffaq Alobaid
Stars: Abdulaziz Almadhi, Mohammed Al Akkasi, Ali Al Suhaibani
Rating: 4/5
Victims%20of%20the%202018%20Parkland%20school%20shooting
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Honeymoonish
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