In Focus
PROJECTS P.20
Experts Ponder the Minister’s Plan:
New Piping Modifications (ENPPI)
Guiding the Reformation of the EGPC
AFRICA P.08
Nigeria Removes Oil Subsidies
P.16
Bullion Market Price 1462.05
GOLD
Percentage -16.12%
Crude Oil USD/BBL
WTI BRENT
HIGHLIGHT
SILVER
Price 30.13
Percentage -9.36%
Price 98.58 107.59
Percentage +1.44% -2.49%
Western Efforts Intensify to Enact Iran Oil Embargo P.10
February 2012
Issue 62
24 Pages
www.egyptoil-gas.com
New Dawn or Nightfall?
The rise of political Islam and its effects on the petroleum sector P.14
Egypt News
Pharaonic Petroleum Invests $25 Million in the Mediterranean
Increase in Production for Khalda’s Western Desert Concession Characterized by Disparity The analytical report issued by Egypt Oil & Gas to assess the performance of Khalda Petroleum revealed disparities in the company’s production indicators of crude oil and natural gas. Oil production witnessed several fluctuations in the last six months of 2011, while the production of natural gas rose consistently during the same period. P.06
Pharaonic Petroleum Company completed the drilling of a new offshore developmental well in its Mediterranean concession as part of the company’s drilling plan of December 2011. According to a high-ranking source, the new gas producing well, West ATEN-7, averaged $25 million in investments. P.04