Anglo-Egyptian Oilfields

Last updated
Oil production in Egypt [1] [2] [3] [4]
YearBarrels
<19110
191121,000
1912214,000
191398,000
1914753,000
1915212,000
1916404,000
1917943,000
19181,935,000
19191,517,000
19201,042,000
19211,255,000
19221,188,000
19231,054,000
19241,122,000
19251,226,000
19261,188,000
19271,267,000
19281,842,000
19291,868,000
19301,996,000
19312,038,000
19321,895,000
19331,663,000
19341,546,000
19351,301,000
19361,278,000
19371,196,000
19381,581,000
19394,666,000
19406,505,000
19418,546,000
19428.275,000
19438,953,000
19449,416,000
19459,406,000
19469,070,000
19478,627,000

Anglo-Egyptian Oilfields Limited was an oil company registered in London, England on 6 July 1911 with a capital of £676,000 (£226,000 Anglo-Saxon Petroleum (Royal Dutch Shell), £450,000 Red Sea Oilfields Ltd) [5] [6] with oilfields in Egypt. It was a subsidiary of Royal Dutch Shell. [7]

Contents

Egypt was the first oil producing country in the Middle East, even before Iran, but production was quite insignificant compared to the region's major oil producing countries. [1]

The company headquarter was moved from London to Cairo in 1951 and taxes where henceforth paid to the Egyptian government, except those on dividends paid to UK residents. [8] The company board for the first time met on July 10 in the newly build 10-story Shell House headquarters in which the Shell Company of Egypt Ltd and Anglo-Iranian Oil Co. (Egypt) Ltd were co-tenants. [9]

The capital structure of the company (par value and number of shares issued) did not change between 1920 and 1954. [10] In 1920 it was £1,350,000 (all issued) and as a typical part of the combine owned 60% by Royal Dutch and 40% by Shell. [11] On May 31, 1956 the capital was increased to £5,665,500 and one bonus share issued for each two shares (i.e. a 1+1⁄2:1 stock split). [12] The company properties were sequestered by order of Egyptian authorities on November 2, 1956 (Suez Crisis) [13] and de-sequestered on April 21, 1959 and this was finalized on July 11, 1959 with control passing back to the former owners. [14] In July 1961 the government of the United Arab Republic acquired a 55% shareholding in the company. [a] It was renamed as the Al Nasr Oilfields Company on 4 January 1962, and was converted into a United Arab Republic Company. [17] It seems to have been nationalised in 1964, and news reports cite Gamal Abdel Nasser's seizing in 1964 [18] while Skinner's Oil and petroleum year book suggests 1951 control. [19]

Oil fields

exclusive

The Gemsah field ( 27°39′N33°35′E / 27.650°N 33.583°E / 27.650; 33.583 (Gemsah oil field) ) was discovered in 1908 and yielded light oil of 41° API gravity, but the total amount was only 1,442,098 barrels over its lifetime. [20] : 38 

The Hurghada field ( 27°15′N33°47′E / 27.250°N 33.783°E / 27.250; 33.783 (Hurghada oil field) ) was discovered in 1913, production peaked in 1931 (1,800,000bbl). Produced 302,200bbl in 1951 from 23 pumping wells and there were 5 shut-in wells. The oil was relatively heavy (22° - 30° API) [20] : 47 

The Ras Gharib field ( 28°22′N33°4′E / 28.367°N 33.067°E / 28.367; 33.067 (Ras Gharib oil field) ) was discovered in 1938. [b] In 1951 8,036,900bbl were produced from 14 flowing, 70 pumping, 17 gas-lift and 26 shut-in wells. [20] : 78 

jointly with Socony-Vacuum

The Sudr field ( 29°36′N32°45′E / 29.600°N 32.750°E / 29.600; 32.750 (Sudr oil field) ) in 1951 produced 3,726,400bbl of 19°-23° API gravity from 8 flowing, 1 pumping and 6 shut-in wells. Connected to Sudr anchorage by a 6-inch and a 10-inch pipe line. [20] : 89 

The Asl field ( 29°28′N32°51′E / 29.467°N 32.850°E / 29.467; 32.850 (Asl oil field) ) was discovered in 1948. Linked to Sudr terminal by 6-inch and 10-inch pipeline. 22° API oil. [20] : 15 

The Ras Matarma field ( 29°32′N32°49′E / 29.533°N 32.817°E / 29.533; 32.817 (Ras Matarma oil field) ) was discovered in 1948. [20] : 78 

On the Nebwi Lease ( 29°19′N32°52′E / 29.317°N 32.867°E / 29.317; 32.867 (Nebwi lease) ) seven dry holes were drilled and #7 abandoned at a depth of 5,292 ft on Nov 11, 1950, presumably the last hole drilled on the lease. [20] : 70 

Other facilities

The Suez refinery ( 29°58′N32°31′E / 29.967°N 32.517°E / 29.967; 32.517 (Suez refineries) ) 1.5 miles southwest of the Suez town center was co-located with the government refinery located 3 miles southwest of the center. A twin 12-inch products pipeline (28,000 - 40,000 tons per month) from the Shell jetties at Suez led to a tank farm and pumping station ( 30°4′N32°23′E / 30.067°N 32.383°E / 30.067; 32.383 (Agrud tank farm) ) near Agrud and from there 75 miles of 6-inch pipe to the Ghamra terminal ( 30°5′N31°17′E / 30.083°N 31.283°E / 30.083; 31.283 (Ghamra pipeline terminal) ) east of Cairo. [20] : 89  [20] : 39  [20] : 6  There was also the Nifisha terminal ( 30°34′N32°15′E / 30.567°N 32.250°E / 30.567; 32.250 (Nifisha terminal) ) connected to Agrud. [20] : 70 

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Well statistics

Through 1928 there were drilled 93,000ft in total exploration wells, [23] : 23  From 1929 until 1936 exploratory drilling virtually ceased. Revisions in mining regulations in 1937 stimulated efforts by AEO, Socony-Vacuum, Standard Oil of New Jersey and CalTex. [23] : 26  During World War II, 116 wells totaling 272,053 feet were completed at Ras Gharib, but exploratory drilling was suspended with no new wells spudded after Gharib West No. 4 on November 5, 1940 until Ayun Musa No. 1 on December 23, 1944. [24] With the exception of the force majeure due to the war there was a period of intensified exploration activity in Egypt from 1937 through to 1948.

Maps of wildcats: 1949 [25]

Production statistics

Oil production by field (tons) [44]
YearGemsahHurghada
19111,2200
191227,454
191312,586
191491,00910,964
Oil production by field (barrels)
HurghadaGharib
1937 [45] [p] 1,141,356
1938 [45] [q] 1,019,520512,988

The Egyptian Oil Industry

Government

The Abu Durba field ( 28°38′N33°20′E / 28.633°N 33.333°E / 28.633; 33.333 (Abu Durba oil field) ) was operated by the government. [20] : 5 

South Mediterranean Oil Co

The South Mediterranean Oil Co, Ltd. was a joint-venture of Standard Oil of California and Texaco (see also: Caltex). The company began prospecting in Egypt in 1938. It had ca. 240 exploratory permits covering 5 million acres and was conducting field geology and geophysical exploration. Had (at least) one large rig and several smaller units. Drilled Khatatba No. 1 to 7,000 ft 25 miles northwest of Cairo and found nothing and shortly thereafter in May 1945 announced its withdrawal from Egypt. The assets were bought by AEO, Socony-Vacuum and Standard Oil Co of Egypt (subsidiary of Standard of NJ) in the fall of 1945. [46]

References

  1. 1 2 "WOrld Crude Oil Production, by Countries, by Years". World Oil. Vol. 88, no. 8. 31 January 1938. p. 29.
  2. ↑ Minerals Yearbook 1940. U.S. Department of the Interior, Bureau of Mines. 1940. p. 1029.
  3. ↑ Minerals Yearbook 1944. U.S. Department of the Interior, Bureau of Mines. 1944. p. 1166.
  4. ↑ Minerals Yearbook 1947. U.S. Department of the Interior, Bureau of Mines. 1947. p. 975.
  5. ↑ Skinner, Walter E. (1910), Oil and petroleum year book : incorporating the Oil and petroleum manual, Walter E. Skinner, retrieved 24 January 2016 page 67 of the 1962 edition
  6. ↑ F. C. Gerretson (1957). History of the Royal Dutch. Vol. 3. p. 242.
  7. ↑ http://wiki.openoil.net/index.php?title=History_of_Egyptian_oil_and_gas_industry%5B%5D
  8. ↑ "Middle East - Oil in Egypt". International Financial News Survey. Vol. 3, no. 50. 29 June 1951. p. 400.
  9. ↑ "Anglo-Egyptian Has New Home". World Petroleum. Vol. 22, no. 11. November 1951. p. 120.
  10. ↑ "Anglo-Egyptian Oilfields - Increased Earnings". The Economist. Vol. 172. 4 September 1954. p. 776.
  11. ↑ "Cooperation with the Royal Dutch". The Oil and Gas Journal. Vol. 18, no. 52. 28 May 1920. p. 50.
  12. ↑ "The Anglo-Egyptian Oilfields, Limited - Annual Meeting". The Economist. Vol. 179. 9 June 1956. p. 1049.
  13. ↑ "British Petroleum Co. Annual Report Year Ended Dec 31, 1956". The Economist. Vol. 183, no. 5933. 11 May 1957. p. 538.
  14. ↑ "Return of AEO to Former Owners". Institute of Petroleum Review. Vol. 13, no. 153. September 1959. p. 298.
  15. ↑ "World Wide Oil Report - Egypt". The Oil and Gas Journal. Vol. 59, no. 52. 25 December 1961. p. 115.
  16. ↑ "Compensation for Anglo-Egyptian". The Economist. Vol. 200, no. 6157. 26 August 1961. p. 817.
  17. ↑ "History of Egyptian General Petroleum Corporation – FundingUniverse".
  18. ↑ "Nasser Seizes Oilfields". The Canberra Times . 26 March 1964. p. 5. Retrieved 24 January 2016– via National Library of Australia.
  19. ↑ Skinner, Walter E. (1910), Oil and petroleum year book : incorporating the Oil and petroleum manual, Walter E. Skinner, retrieved 24 January 2016
  20. 1 2 3 4 5 6 7 8 9 10 11 12 Annotated Gazetteer of the Middle East Oil Industry (Report). Central Intelligence Agency.
  21. 1 2 "Drilling Operations to Test New Egyptian Oil Field". The Oil and Gas Journal. Vol. 37, no. 9. 14 July 1938. p. 32.
  22. 1 2 3 "Ras Gharib Discovery Brings Rush of Prospecting Activity to Egypt". World Petroleum. Vol. 10, no. 6. June 1939. p. 52.
  23. 1 2 3 The Petroleum Resources of Libya, Algeria and Egypt (Report). Energy Information Administration. 16 March 1984.
  24. 1 2 3 4 5 "Egyptian Exploration Program Most Intense (Part 1/2)". The Oil Weekly. Vol. 125, no. 1. 3 March 1947. p. 13.
  25. ↑ "(map of wildcats in egypt)". World Oil. Vol. 129, no. 4. 15 July 1949. p. 219.
  26. 1 2 3 4 5 6 7 "Egyptian Exploration Program (Part 2/2)". The Oil Weekly. Vol. 125, no. 6. 7 April 1947. p. 3.
  27. 1 2 "1. Annual World Oil Atlas - Data on Drilling in Egypt". World Oil. 20 May 1946. p. 309.
  28. ↑ "World Oil's 2nd Annual World Oil Atlas - Recent Drilling Operations in Egypt". World Oil. 30 June 1947. p. 299.
  29. ↑ "World Oil's 3rd Annual World Oil Atlas - Drilling in Egypt". World Oil. July 1948. p. 283.
  30. ↑ "World Oil's 4th International Operations Issue - Drilling in Egypt". World Oil. 15 July 1949. p. 216.
  31. ↑ "World Oil's 5th International Operations Issue - Drilling and Geological Data on Egypt Fields". World Oil. 2 July 1950. p. 196.
  32. ↑ "Egypt - 1954". World Oil. Vol. 143, no. 3. 15 August 1956. p. 286.
  33. ↑ "Two Companies Halt Operations in Egypt". World Oil. Vol. 134, no. 6. May 1952. p. 46.
  34. 1 2 "World Oil's 7th International Operations Issue - Drilling In Egypt". World Oil. 15 July 1952. p. 192.
  35. ↑ "World Oil's 9th International Operations Issue - Egypt - Anglo-Egyptian". World Oil. 15 August 1954. p. 242.
  36. ↑ "World Oil's 9th International Operations Issue - Anglo-Egyptian". World Oil. 15 August 1954. p. 242.
  37. ↑ "World Oil's 10th International Outlook Issue - World Drilling Activity". World Oil. 15 August 1955. p. 157.
  38. ↑ "World Oil's 11th International Outlook Issue - World Drilling Activity". World Oil. 15 August 1956. p. 142.
  39. ↑ "World Oil's 12th International Outlook Issue - Free World Drilling Activity". World Oil. 15 August 1957. p. 189.
  40. ↑ "World Oil's 13th International Outlook Issue - Free World Drilling Activity". World Oil. 15 August 1958. p. 126.
  41. ↑ "World Oil's 14th International Outlook Issue - Crude Oil Production and Development Drilling in Egypt in 1958, by Companies and Fields". World Oil. 15 August 1959. p. 172.
  42. ↑ "World Oil's 15th International Outlook Issue - Crude Oil Production and Development Drilling in Egypt in 1959, by Companies and Fields". World Oil. 15 August 1960. p. 177.
  43. ↑ "World Oil's 16th International Outlook Issue - Crude Oil Production and Development Drilling in Egypt in 1960, by Companies and Fields". World Oil. 15 August 1961. p. 141.
  44. ↑ "Year's Work in Egyptian Fields". The Oil and Gas Journal. Vol. 13, no. 35. 4 February 1915. p. 29.
  45. 1 2 "Production of Oil in Egypt in 1938". Transactions of the American Institute of Mining and Metallurgical Engineers: 550. 1939.
  46. ↑ "South Mediterranean is Withdrawing From Egypt". The Oil and Gas Journal. Vol. 44, no. 20. 22 September 1945. p. 166.
  1. ↑ Previously the government owned 9.6%, Shell and BP each owned 30.9%, 6% was held by private British investors and 22% by private UAR interests. The government increased its share to 55%, cutting in half the holding of all other groups in exchange for 15-year 4% government bonds to the amount of £2.07 for each £1 share acquired based on latest quotation on the Cairo Stock Exchange. The total outstanding capital was about £5.5 million (par value). The stock price had been on the decline for some time though owing to the uncertain business conditions and the lack of new exploration by AEO. [15] [16]
  2. ↑ A test well started on December 1, 1937 struck oil at 2,500ft on April 12, 1938 with the first shipment made August 8, 1938. AEO had also drilled a 1,275ft and a 3,745ft dry hole in 1921-1925 5km south of the eventual discovery. [21] [22]
  3. ↑
    • Ras Gharib discovery 2,500ft on Apr 12 spudded Dec 1, 1937 [21] [22]
  4. ↑
    • Dishet el Dhaba No. 2 (Socony) on Jul 9 spudded Feb 5
  5. ↑
    • Anglo-Egyptian Oilfields
      • Gharib West No. 1 5,023ft on Aug 1 spudded Mar 13
      • Gharib West No. 2 4,100ft on Sep 14 spudded Jul 19
    • Socony
      • Giftun Saghir No. 1 3,103ft on May 28 spudded Dec 2, 1938
      • Sherm el Arab No. 1 1,892ft on Jun 23 spudded May 23
      • Abu Shaar West No. 1 2,866ft on Sep 13 spudded Jul 9
      • Abu Shaar South No. 1 2,833ft on Nov 4 spudded Sep 26
  6. ↑
    • Anglo-Egyptian Oilfields
      • Gharib North No. 1 4,425ft on Jun 12 spudded Apr 5
      • Gharib West No. 3 4,000ft on Jun 24 spudded Apr 23
      • Shagar No. 1 SW of Gharib 4,265ft on Oct 4 spudded Aug 2
    • Socony
      • Wadi Dara No. 1 6,722ft on Apr 1 spudded Jul 21, 1939
      • Dishet el Dhaba No. 3 3,800ft on Feb 26 spudded Nov 21, 1939
      • Mareikha No. 1 3,025ft on Jun 3 spudded Mar 12
      • Shukheir No. 1 3,545ft on Sep 19 spudded May 2
      • Dishet el Dhaba No. 4 3,756ft on Nov 19 spudded Oct 1
    • Standard Oil of Egypt
      • Ras Ruahmi No. 1 8,282ft on May 21 spudded Jan 2 with rig#1
      • Bakr No. 1 3,880ft on Oct 10 spudded Jun 2 with rig#1
  7. ↑
    • Anglo-Egyptian Oilfields
      • Gharib West No. 4 4,975ft on Jan 28, 1941 spudded Nov 5, 1940
    • Socony
      • Shukheir No. 2 4,823ft on Feb 9 spudded Dec 10, 1940
      • Shukheir No. 3 4,900ft on Apr 16 spudded Mar 6
    • Standard Oil of Egypt
      • Bakr No. 2 5,162ft on Jan 1 spudded Oct 23, 1940 with rig#1
  8. ↑
    • Standard Oil of Egypt
      • Bakr No. 3 5,035ft on Mar 10 spudded Nov 28, 1943 with rig#1
      • Bakr No. 4 4,659ft on May 27 spudded Mar 28 with rig#1
      • Bakr No. 5 4,000ft on Jul 8 spudded Jun 19 with rig#1
  9. ↑
    • Anglo-Egyptian Oilfields
      • Gharib North No. 2 6,474ft 10 miles NW of Gharib field in Nov 1945
    • Anglo-Egyptian+Socony
      • Ayun Musa No. 1 5,451ft 9 miles SE of Suez on Jul 29 1945 spudded Dec 23, 1944
    • Standard Oil of Egypt
      • Nakhl No. 1 5,566ft on Mar 24 spudded Nov 17, 1944 with rig#1
      • Darag No. 1 2,768ft on Jun 9 spudded Apr 24 with rig#1
  10. ↑
    • Sudr No. 1 (AEO+Socony) 34 miles SE of Suez 3,157ft on May 24
  11. ↑
    • Anglo-Egyptian Oilfields
      • Myos Hormos No. 1 12 miles NW of Hurghada field 5,024ft on May 15
      • Myos Hormos No. 2 15 miles NW of Hurghada 5,800ft on Oct 15
    • Socony
      • Dishet El Dhaba No. 5 a few miles south of Hurghada [22] 3,216ft on May 24 spudded Mar 2
      • Ras Bakr No. 1 Gulf of Suez 6,784ft on Nov 5 spudded Jul 5
    • Anglo-Egyptian+Socony
      • Ayun Musa No. 2 (AEO+Socony) 9 miles SE of Suez 5,808ft on Jan 20
      • Asl No. 1 (AEO+Socony) 40 miles SE of Suez 4,328ft on Jul 24
    • Standard Oil of Egypt
      • Abu Hamth No. 1 central Sinai 7,132ft on Feb 15 spudded Jul 11, 1945 with rig#1
      • Wadi Baba No. 1 Gulf of Suez 4,548ft on Sep 25 spudded May 16
      • Abu Roasch No. 1 western desert 6,289ft on Sep 30 spudded Jan 18 with the former caltex rig
  12. ↑
    • Abu Sultan No. 1 (AEO) W Side Great Bitter Lake 2,456ft on Sep 6
    • Attaka No. 1 (AEO) 9 miles NW of SUez 3,938ft on Mar 15
    • Abu Rudeis No. 1 (SOofE) 19 miles S of Abu Zanima 7,895ft on Mar 28
    • Nebwi No. 1 (AEO+Socony) 47 miles S of Suez 8,360ft on Aug 30
    • Hamra No. 1 (???) 25 miles E of Suez 4,790ft on Jul 12
    • Abu Reash No. 2 (SOofE) 6 miles NW of Great Pyramids 5,610ft on Jan 31
  13. ↑
    • Asl No. 2 (AEO+Socony) Sinai 3,910ft in February; 1,500bpd 22-gravity
    • Matarma No. 2 (AEO+Socony) Sinai 3,649ft in November; shut-in 18-gravity
  14. ↑
    • Matarma No. 1 (AEO+Socony) SInai 6,093 in August
    • Lagia No. 1 (SOofE) Sinai 3,995ft in February
    • Lagia No. 2 (SOofE) Sinai 8,382ft in November
    • Tawila No. 2 (SOofE) Sinai 11,375ft in May
  15. ↑ The Mines and Quarries law of 1948 made exploration economically prohibitive [32] However 7 dry holes were drilled at Nebwi and 4 at Lagie. [33]
  16. ↑ converted by source from long tons using a factor of 6.98
  17. ↑ Cumulative at end of 1938: 31,207,754bbl
  18. 1 2 3 4 Year of Discovery
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