Pertamina To Bid for Egyptian Oil Projects

Pertamina plans to enter a bid for a tender to operate Egyptian oil fields in the Nile Delta, the Suez and the desert west of Cairo in April. "The Egyptian government has offered a very attractive bidding price, while on the other hand we see the cost of drilling the oilfields as relatively low, " according to Pertamina's upstream director, Iin Arifin Tachyan. Pertamina has been reviewing the terms and conditions for contracts under a production-sharing scheme, he added.

Recent oil discoveries in Egypt bring the nation's total crude oil reserves to approximately 144 million barrels. Currently, Egypt continues to be a crude oil exporter, with oil production standing at 794,000 barrels per day (bpd), of which 720,000 bpd is crude oil. National oil consumption is estimates at 573,000 bpd.


Our Privacy Pledge

Most Popular Articles
Related Articles

Brent Crude Oil : $51.78/BBL 0.77%
Light Crude Oil : $50.85/BBL 0.83%
Natural Gas : $2.99/MMBtu 4.77%
Updated in last 24 hours