“Our business model relies largely on legacy offshore assets that we purchase and refurbish.” Mohamed Farouk, oil driller ADES International’s chief executive, makes his business sound very straightforward. “Our business model relies largely on legacy offshore assets that we purchase and refurbish.” Revenue growth of more than 35% in each of the past three years … Continue reading
Company believes Egypt still offers a fantastic opportunity for oil exploration. Egypt has been a tough place to operate for oil and gas companies in recent years, especially the western ones. Markets are also wary given the political upheaval, but Toronto and NASDAQ-listed oil producer TransGlobe Energy Corporation reckons the share price treatment it has … Continue reading
Edison stalls on Egypt deep-water wells: Italian operator delays drilling of probes on two separate blocks where it has been hunting a partner. Italy’s Edison has put off a deep-water drilling campaign off Egypt by about a year. The company was planning to drill two wells on its wholly-owned North Thekah and North Port Fouad … Continue reading
The Apollonia project can boost Egypt’s unconventional oil/gas exploration and production. In the wake of the ongoing economic reform programme adopted by the authorities and the plans to transform Egypt into a major energy hub, Daily News Egypt sat with Gasser Hanter, Vice President Upstream, Country Chair & Managing Director of Shell Egypt, which is … Continue reading
Ross Clarkson, president and CEO of TransGlobe Energy Corporation chats with Proactive’s Andrew Scott about the group’s assets in Canada and Egypt. ”We’ve been in business 22 years, I created the company and we have been active explorers and developers for that period of time”, Clarkson says. TransGlobe will be developing new oil fields in … Continue reading
A fledgling oil and gas drilling services firm which listed in London this year plans to continue its strong start to life with exclusive marketing deals with shipyards. ADES International chief executive Mohamed Farouk said agreements with yards in Asia would give the company access to new build jack-up rigs without breaking the “asset-light”, low … Continue reading
Engineering designs are being drafted for a new USD 160 million pier at Damietta Port to expand shipping and storage services, according to an Oil Ministry statement. The pier, set to be completed in 3Q2020, will support urea and ammonia exports by MOPCO. The Ministry is also studying building a refinery in Suez, a propylene … Continue reading
