After more than a decade of violent fluctuations, Egypt's petroleum industry has established itself as a well financed and profitable concern.
GV Morgan oil field, gas being burnt off on Red Sea platform
GV PAN Work boat in rough sea TO oil platform
GV TILT DOWN Drilling tower TO rig and barge
CU Workmen on rig screwing cap onto pipe end
SV PAN Winch TO pipe being lowered into bore hole
GV Boom on side of rig with gas being burnt
GV PAN FROM Oil rig TO barge alongside
GV ZOOM Helicopter landing on rig platform
GV ZOOM OUT Ras Shukheir oil facilities, including storage tanks
GV Newsmen inspecting pipe line facilities
GV Oil storage tanks in desert
SV PAN Oil pipeline (2 shots)
GV Newsmen walking towards water separation equipment
GV ZOOM OUT Oil waste burning
GV Oil installations and port facilities (2 shots)
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Background: After more than a decade of violent fluctuations, Egypt's petroleum industry has established itself as a well financed and profitable concern. After the end of the series of conflicts with Israel, Egypt's oil industry was the quickest manor sector of the economy to recover.
SYNOPSIS: Egypt has small reserves of oil but they have been vigorously exploited. Here in the Red Sea off Ras Shukheir, the Morgan field has been difficult to develop but it is profitable. Although it could not meet President Sadat's aim of a million barrels a day by 1980, the country's production of crude oil is rising steadily, much of it from off-shore fields like this one.
The Morgan field helped make 1975 a significant year in which Egypt became a net exporter of oil and oil products. Production here dropped abruptly in 1971 when pressures fell, but water injection techniques returned output to former levels. The development of other off-shore fields and the return of fields in the Sinai have further boosted the country's production capacity, although it is still small and expensive to exploit compared with even the smallest of Egypt's Middle East neighbours.
The port at Ras Shukheir is entirely devoted to the oil industry. It handles mainly crude oil but there are proposals to develop the country's refining industry. Exploration and production is carried out mainly by joint venture companies with the Egyptian General Petroleum Corporation. The joint venture here in the Gulf of Suez is with Amoco, a subsidiary of Standard Oil of the United States, and the enterprise is the largest and most important oil company in Egypt.
Egypt is not a member of the Organisation of Oil Exporting Countries (OPEC) and puts its oil up for auction. It sold all its spare crude for 1980, 160,000 barrels a day, at auction in late 1979. Under agreement, Egypt sells 38,000 barrels a day to Israel at special negotiated prices.