Five Oil and Gas Drilling & Exploration Agreements Approved by Government of Egypt
Egypt: Due to declining production
and dependency of Egypt on import of oil & gas, the government of Egypt has
made five explorations and drilling agreements
with international oil companies in order to boost the domestic production. Out
of the five agreements, four are offshore Mediterranean gas exploration and
drilling agreements between Egypt's state gas board EGAS and BP, Eni, Total,
and Edison and the fifth deal is between state petroleum board EGPC and local
company Trident Petroleum. These agreements
are expected to stimulate the drilling and production activities in Egypt.
TechSci Research depicts that
with growth in oil and gas exploration activities, the market for natural gas
compressors is poised to expand in near future. Gas transmission applications
are typically powered by a reciprocating engine fueled by natural gas.
According
to TechSci Research report, “Global Natural Gas Compressors Market
By Technology, By Application, By Region, Competition Forecast and
Opportunities, 2011 - 2021”, the global natural gas compressors market is anticipated to
cross USD5.5 billion by 2021. On the basis of technology, natural gas
compressors are segmented into two categories - positive displacement
compressors and dynamic compressors. Among these categories, positive
displacement compressors form the most preferred natural gas compressors category,
predominantly due to their low cost and increasing use in gas gathering and
processing. However, in the recent years, majority of the upstream and
midstream companies are inclining towards dynamic compressors due their higher
efficiency and low maintenance compared to positive displacement
compressors.