Egypt and the European Union continue to share strong bilateral energy relations as well as an understanding of the opportunities and challenges facing the region. Partnership in the energy sector comes on top of the areas of common interest between Egypt and the EU in view of its importance as a driver of economic growth … Continue reading
Oil discovery at Rabul 4 Well, West Gharib Concession, Egypt. SDX Energy, the North Africa focused oil and gas company, has announced that an oil discovery has been made at its Rabul 4 well in the West Gharib Concession in Egypt (SDX 50% Working Interest & Joint Operator). The well was drilled to a total … Continue reading
Egypt aims for foreign investment in the oil and gas sector to reach about $10 billion in the 2018/19 fiscal year that begins in July, Petroleum Minister Tarek El Molla said on Sunday. Molla said he expected foreign investments to total the same amount for the current fiscal year, marking a 25 percent increase from … Continue reading
Private equity firm hopes to raise up to $400 million. Citigroup running process, bids expected by July. Private equity firm Yorktown Partners is selling its Egyptian-focused oil and gas company Merlon International, hoping to raise up to $400 million, two banking sources told Reuters. The process is being run by Citigroup and bids are expected to be … Continue reading
By Alessandro Bacci, Independent Energy Consultant 1 — What is Egypt’s role in the O&G business on a global scale? Egypt has been one of the first countries active in the petroleum extraction. In fact, the country has been producing crude oil for more than a century; Egypt’s first commercial crude oil production started in 1910 … Continue reading
Carbon Holdings aims to reach financial close on $10.6 billion Tahrir petrochemicals complex by year’s end, CEO Basil El Baz says. Carbon Holdings is covering 26% of the project’s cost, with the remainder set to be funded by development finance institutions from the US, Germany, and the UK. Tahrir Petrochemicals will be built in the … Continue reading
Egypt will auction 10 or 11 oil and gas exploration blocks in the Mediterranean, petroleum minister Tarek El Molla said on Tuesday. Egypt also aims to auction oil and gas drilling in the Red Sea by the end of 2018, Molla told a news conference. Egypt plans to speed up production from recently discovered fields, … Continue reading
