Unrest clouds an otherwise bright future

Journal Article · Sat Aug 01 04:00:00 EDT 1992 · World Oil; (United States)

OSTI ID:7283411

This paper reports that recent finds around the Gulf of Suez and Western Desert point to potential in outpost areas and under-explored frontier regions. Discoveries by British Gas and Amoco (Gulf of Suez Petroleum Co.), away from other Gulf fields, long the center E and P activity, indicate that there may be hydrocarbons in outlying areas. Internal demand now accounts for more than 60f output from Egypt's dwindling reserve base. As a result, efforts to maintain or boost oil reserves and increase domestic natural gas production and consumption have become a national imperative. Egypt needs new deep drilling to boost reserves and in return, promises flexible terms. Agreements with Agip's International Egyptian Oil Co. (IEOC) for North Port Said and Turkish Petroleum International Corp. (TPIC) for West Bahariya in the Western Desert were ratified. Seven production sharing agreements covering Mediterranean offshore acreage, onshore acreage in Qena-Asyut basin in Upper Egypt and the Eastern Desert were signed. Agreements with Amoco for Northwest Abu el-Gharadiq in the Western Desert and East Ghareb in the Gulf of Suez, and Repsol for North Alexandria off the Mediterranean coast and Qena-Luxur in Upper Egypt were signed.

• OSTI ID: 7283411
• Journal Information: World Oil; (United States), Journal Name: World Oil; (United States) Vol. 213:8; ISSN 0043-8790; ISSN WOOIA
• Country of Publication: United States
• Language: English

Related Subjects

02 PETROLEUM
020700* -- Petroleum-- Economics
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03 NATURAL GAS
030600 -- Natural Gas-- Economic
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29 ENERGY PLANNING, POLICY, AND ECONOMY
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AFRICA
COOPERATION
DEVELOPING COUNTRIES
DOCUMENT TYPES
EGYPTIAN ARAB REPUBLIC
FORECASTING
INDUSTRY
INTERNATIONAL COOPERATION
MIDDLE EAST
NATURAL GAS INDUSTRY
PETROLEUM INDUSTRY
RESERVES
RESOURCE DEVELOPMENT
RESOURCES
REVIEWS
SUPPLY AND DEMAND