United Energy Group acquires Kuwait Energy in $651 million deal
Hong Kong-listed energy firm United Energy Group has made a $651 million bid to acquire Kuwait Energy, United Energy said in a filing to the Hong Kong stock exchange, Reuters reports. Egypt assets among those that enticed United: The move comes as United Energy looks to expand in the Middle East. Kuwait Energy has operations […]
Enppi, Wood Group sign partnership deal for deepwater gas drilling
Egypt’s state oil company Engineering for Petroleum and Process Industries (ENPPI) signed a deal on Monday with the UK’s Wood Group for a technical and engineering partnership on natural gas exploration and production through deepwater drilling. In an official statement, Egypt’s petroleum ministry said the inking of the agreement was witnessed by Minister of Petroleum […]
Edison, Qalaa Holdings scrap plan for 150 MW Abu Qir power plant
Edison and Qalaa Holdings have decided to scrap their plan to build a $150 million combined cycle power plant in Abu Qir after determining that the project would not be financially feasible with current power tariffs, an unnamed source from Edison tells Al Masdar. Qalaa and Edison had planned to sell power from the 180 […]
Shell to host BMW DTM driver Augusto Farfus at Automech Formula
Shell Lubricants Egypt announced its sponsorship of the 25th edition of Automech Formula 2018 International Motor Show, to be held at Egypt International Exhibition Center in New Cairo, from the 26th to the 30th of September. For the first time in Egypt, Shell will host Augusto Farfus, DTM driver for the BMW M Motorsport Team, […]
Amalie Oil and ACPA sign MoU to explore partnership in Egypt
US motor oil and auto fluids manufacturer Amalie Oil Company signed an MoU with state-owned Alexandria Company for Petroleum Additives (ACPA) which would see them explore the possibility of partnering together on manufacturing or marketing motor oils, according to an Oil Ministry statement picked up by Al Mal. (Source: Enterprise.press)
Egypt’s short-term gas production expected to record strong growth
Fitch Solutions Macro Research expects “strong growth” in gas production in Egypt in the short term, a new report by the company has revealed. “We expect strong growth in gas production in Egypt in the short term as several major offshore development[s] ramp up output over 2018,” Fitch Solutions Macro Research said in the report, […]
Egypt signs $352 million deal with Siemens to manage 3 power stations
Egypt on Thursday signed a $352 million contract with Siemens AG and Siemens Technologie to manage three gigantic new power plants built to plug a gap in Egypt’s electricity needs, state news agency MENA reported. Egyptian President Abdel Fattah al-Sisi opened the power stations in July, which were built by Siemens at a total cost […]
SDX Energy confirms talks with BP to acquire assets in Egypt
UK player confirms media report that is it in discussions over ‘significant package of assets’. North African-focused oil and gas company SDX Energy on Thursday confirmed that it was in discussions with BP Plc to buy a package of assets in Egypt. London-listed SDX said the acquisition would constitute a reverse takeover. SDX said its […]
Eni, Tharwa to drill first exploratory well at offshore Noor field
Italy’s Eni and Egypt’s Tharwa company will drill the first exploratory oil well in Northern Sinai’s offshore Noor field next week, an official at Egypt’s gas company EGAS said on Thursday. Egypt’s cabinet approved in March an agreement to explore the North Sinai region of the Mediterranean Sea. Under the deal, Eni and Tharwa will […]
SOCO International to acquire Merlon Petroleum in $215m deal
London-listed junior SOCO International has signed a deal to acquired Egyptian company Merlon Petroleum El Fayum in a $215 million deal. Key Highlights: SOCO reaches agreement to acquire Merlon Petroleum El Fayum Company. Approx. US$215 million purchase price, to be paid in cash and new SOCO shares. Merlon holds a 100% operated working interest in […]
