Details of the vision of the heads of international oil companies at the conference of 2018

Details of the vision of the heads of international oil companies at the conference of 2018

The Egyptian government is working hard to achieve this through the economic reforms that are implemented, which despite their difficulty, but they are very necessary, “said Engineer Sami Iskandar, Executive Vice President of Shell, said that Egypt’s power is concentrated in its natural and human resources. The development of the resources of natural resources from oil and gas is one of the main factors in achieving this, as local demand for energy, job opportunities and economic returns are met. Iskandar said that Shell has 100 years of practical experience in Egypt and that its investments in Egypt increased in 2016 following the acquisition of BG, making it one of the largest oil and gas producers in Egypt and is moving forward in the next stage of development of the Nile Delta Nile Delta concession. The development of Phase 9b project, which was approved by the partners Shell Egypt and Petronas, during the second quarter of this year, and the addition of new quantities of gas by the end of 2018, reflecting the commitment of Shell to enhance investments in Egypt, With petroleum sector in Badruddin Petroleum Company Western Sahara, whose production reached 120 thousand barrels per day. He pointed out that there are global challenges expected, including the instability and anxiety in the markets, according to the expectations of the International Energy Agency, it seems that the year 2018 will see huge increases in supplies, and exceeded the growth of US expectations after the return of the rock industry strongly, and US production of crude oil in The highest in 50 years. In 2018, US production may surpass Saudi Arabia’s output and rival Russia. Meanwhile, the International Energy Agency’s 2018 forecast shows that demand will decline during the year compared to 2017. These problems require that producing countries such as Egypt For companies like Shell, more competitive and resilient, there are many commonalities between Egypt and Shell, so we can face the same challenges, we can exploit opportunities and remain competitive in this changing world and his company is able to adjust its strategies and implement a research and exploration program called ” Ready for the future “to run projects more safely, confidently and at low cost. Its initiatives for change have helped to reduce expenditures by 20% since 2015, while at the same time it has succeeded in increasing production by 20% and applied it in its projects in the Gulf of Mexico, Badruddin and Rasputco Petroleum in Egypt, It has a PT2020 project development program to help improve capital returns, increase efficiency, launch and provide technology at affordable prices to enhance and drive our competitive edge. Better technology helps produce more oil and gas at lower cost. For his part, Edison Executive Vice President Nicolas Monti stressed the importance of the Moq conference in attracting many experts in the fields of oil and gas industry, which follows a series of discoveries of natural gas achieved in the Mediterranean over the past ten years. Egypt since 1994, in two of the largest fields producing West Delta and Abu Bakr production area since 2009, which confirms the company’s commitment to invest in Egypt promising, noting that there are opportunities and distinct elements in Egypt make it a major player in the field of energy not only the existence of reserves Here Which is a necessary step in the development and organization of local market mechanisms to become a regional center for energy and a link between the international producing companies and the oil and gas market, despite the existence of challenges of risk The global financial and economic situation, which requires a change in methods and methods of production and the pattern of energy consumption. Monti added that there is evidence of huge reserves of gas in the eastern Mediterranean, but the production of gas from deep water requires huge investments due to risks and high development cost, so future exploration and development processes in these areas need to secure investment returns. Edison praised the efforts and support of the Ministry of Petroleum in the amendment of models of oil agreements to achieve balance and interests of both parties in the price of gas or production and sale through export or sale in the domestic market. He also reviewed the work of the company in Egypt, where he explained that it is planned to drill the first exploratory well in the area of ​​North Sea Trust North Eastern Mediterranean in 2019, and the company continues to develop the field of Abu Qir, which was produced about 40 years ago, 2016/2017 and the drilling and completion of 6 wells in 2017 contributed to the increase of production to 275 million cubic feet per day, an increase of 50% of production in 2016 and 100% increase compared to production in 2009, and doubled the production of condensates to 5300 barrels per day, About 300 million dollars and the current production rates represent the highest level He added that the plan to develop three new areas north of the Abu Qir fields has been started by linking them to the facilities and infrastructure of Abu Bakir to develop reserves of about 500 billion cubic feet of gas, which will contribute to offset the natural decline of the production of Abu Qir fields. The development of these areas is due to the prosecution of Edison. He pointed to the company’s desire to develop its business in the fields of transportation and circulation of gas, especially after the liberalization of the gas and energy market in Egypt and the establishment of a regulator of the activities of the gas market, pointing out that the company has the necessary technology and expertise to qualify for work in this field. For his part, Eng. Fabio Cavana, Director General of Italian International Oil Company (IOC) of Italy’s ENI Group, said that the Egyptian oil industry has witnessed unique achievements over the past year, stressing the availability of success factors for petroleum investments in Egypt. Investments in this field, as well as full coordination between them and foreign companies operating in Egypt, which helps to strengthen efforts to reach more successes and laying the foundations for achieving stable long-term growth in the face of changes in the oil markets As well as the important role of using modern technologies in exploration and development projects to achieve ambitious aspirations and plans. Kaffana reviewed the recent successes of ENI and the oil sector in the development and production of gas from the discoveries made by ENE in its Mediterranean concession areas. He pointed out that the project of the Nores gas field in the Nile Delta in the Mediterranean has been a milestone since the discovery in July 2015 and the implementation of ambitious plans to achieve A steady increase in the production of gas from this field, up to currently about 1.2 billion cubic feet of gas per day. Kaffana confirmed that the gas field will increase production with the start of the first and second lines of the treatment plant in April and May next, adding that it is planned to double production gradually from the field back this year to peak production next year, adding that this is an extension of Achieve achievements in the field over the past period and start early production of gas at record times compared to similar projects regionally and globally. The success of the Dahar field project was based on a strong commitment from the Egyptian government and ENI to intensify activities and complete work on the project at an unprecedented pace. Participated in the back project was one of the main factors in its success because they are highly qualified companies and qualified to carry out major projects. Kafana also pointed out that the use of modern technologies has contributed to the technical challenges of the back project, in particular the drilling of deep water at a depth of 1500 meters, with the risks and difficulties of dealing with the existing formations and reservoirs. For advanced drilling systems with the highest degree of operational performance and safety factors, stressing its commitment during the project to implement the standards of sustainability and programs of safety and security and environmental preservation, pointing to its commitment to its social responsibility towards the community bit The implementation of community development projects to serve the local community surrounding the project, with contributions of 20 million dollars over 4 years, noting that in this context, the sulfur will be re-exploited during production and economic exploitation of the proceeds of its exploitation in community development projects for the benefit of the community. He also reviewed the plans implemented to train cadres in the project to raise their efficiency in line with the development and modernization project launched by the Ministry of Petroleum. He pointed out that the Italian company Eni has been operating since the early fifties in Egypt and the field of Belaime in the Gulf of Suez is the oldest field in Egypt, 1953 and so far more than 2.6 billion barrels of crude oil from the field, which is the largest crude oil field was discovered in Egypt throughout the history of the Egyptian oil industry. The head of BP Misr said that according to BP’s forecasts on energy, by 2040, with the rapid growth of the growing economies, there is an increase in world energy demand, by one third, especially natural gas, the second largest source of energy. BP confirms its commitment to providing energy to Egypt while continuing to help meet the growing demand for energy, through a strong partnership with the Ministry of Petroleum and its partners the Petroleum Corporation and IGAS to develop a number of important projects. Karim pointed out that the company has managed over the last two decades to intensify its activities in the Mediterranean and during this decade has increased its gas supply to the domestic market and it aims to achieve more than 3 times the net gas production in Egypt by 2020 and will achieve this through the implementation of projects While maintaining high production rates for years to come. He explained that the West Nile Delta project is one of the most important BP strategic projects, which will provide about 25% of the gas supplies in Egypt by completing the production of all fields on the production, where production is expected to reach 1.3 billion cubic feet per day at the completion of development stages. Karim pointed to the implementation of the first phase of the project of the West Nile Delta before the planned date. In addition, the second exploration well at Atoll fields in the North Damietta marine concession area is the first major project of PEB in Egypt to be put on production in 2018. It is also the first successful project in developing the layer Olygisin in the Nile Delta region and NBC is very proud of the implementation of the Atoll project through its Pharaonic Petroleum Company and completed this project in less than two years which is a huge achievement. Atoll currently produces about 350 million cubic feet of gas and 10,000 barrels of condensates Daily .

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