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As BP’s leader, Bob Dudley has seen the firm through some tough times, from the Deepwater Horizon tragedy in the Gulf of Mexico to the industry downturn. In 2018, it produced on average 3.7mn boed. The company plans to spend $1.8bn in Egypt in 2019 and $1bn in Abu Dhabi annually to expand its operations.

In the 18 months before January 2019, the company invested $12bn across industries and regions. It bought a 20% stake in Egypt’s Nour concession, and 10% interest in Egypt’s Shorouk concession, containing supergiant Zohr gas field. In Abu Dhabi, Mubadala subsidiary Cepsa won a 20% stake in ADNOC’s Sateh Al Razboot and Umm Lulu concession.

Egypt’s gas production has rocketed in recent years, with output of 6.8bn cubic feet of gas per day, 2bn of which comes from offshore Zohr field. However, the arbitration panel of ICSID ruled that Egypt would have to compensate Union Fenosa Gas with $2.13bn for EGAS’s failure to supply the amount of gas agreed upon […]

Dana Gas has big plans—the firm will invest $5bn in Egypt in the next five years, and will increase output in Turkey and Iraq. Allman-Ward signed a $700mn deal to increase gas output in its Kurdistan field Khor Mor by 63% in two years. Still, the firm posted a net loss of $186mn for 2018 […]

Egypt is abuzz with activity, and it’s not just natural gas making headlines. EGPC is offering one of three planned international oil and gas exploration rounds in 2019, for the Western and Eastern Deserts and the Gulf of Suez. This is part of an ambitious plan to attract investors and grow domestic production.

Igor Sechin has emphasised the importance of the Middle East for Russian giant Rosneft. As part of the consortium developing Egypt’s giant Zohr field, Rosneft has seen some success in the region, announcing in September 2018 that its production capacity had increased by 25% to more than 2bcf per day.