EKH’s NSCO begins gas production from offshore North Sinai well
Egypt Kuwait Holding’s (EKH) NSCO Investments Limited started production from its first North Sinai natural gas well on 13 July with a capacity of 25 mmcf/d, the company said in a stock exchange filing (pdf). EKH completed the drilling of its first North Sinai gas well at a cost of USD 15 million, and expects […]
Egypt forecasting crude oil prices at $64-68 in its new hedging contracts
Egypt eyes pricing crude at USD 64-68 in new hedging contract: Crude oil prices will be set at USD 64-68 per bbl in the government’s fuel hedging contracts with international banks, which are due to be renewed soon for the new fiscal year, an unnamed government source estimated, according to Al Mal. Finance Minister Mohamed […]
UAE-based investor Najjad Zeenni acquires $37 mn stake in Maridive
Maridive & Oil Services’ board of directors has approved an offer by UAE-based investor Najjad Zeenni to acquire a USD 37 million stake in the company, the company announced in a statement. Zeenni, who is chairman, CEO and a 25% shareholder in Maridive subsidiary Valentine, will acquire a 12.8% stake in the company’s share capital. […]
EGAS to offer three LNG shipments from Idku plant in August
State-owned EGAS will offer three LNG shipments from the Idku plant in August, two trade sources told Reuters. One source said that two of the shipments will be offered on a Free On Board (FOB) basis and available for loading 8-10, 17-19 and 21-22 August. (Source: Enterprise.press)
Egypt, Cyprus gas infrastructure has “significant potential” to draw capital
Egypt and Cyprus’ gas infrastructure has “significant potential” to draw in capital as part of a drive from Cyprus-based investment firm Cynergy Group to raise a total of USD 10 billion to “consolidate Eastern Mediterranean gas assets,” Cynergy co-founder Mike Germanos tells the National. Cynergy is “setting its sights on Gulf sovereign wealth funds to […]
Egypt’s arrears to IOCs reduced to $900 million at end of June – El Molla
Egypt’s arrears to foreign oil companies declined to $900 million at the end of June from $1.2 billion a year ago, the petroleum minister said on Thursday, adding that the remaining amount would be paid soon. The Egyptian government had told the International Monetary Fund in a letter in January it intended to “eliminate” arrears […]
Wintershall Dea discusses future cooperation in E&P activities with Egypt
Egypt talks investment options with Germany’s Wintershall Dea: The Oil Ministry met with a delegation from Germany’s Wintershall Dea yesterday to explore investment options, according to a ministry statement. The two sides also discussed an agreement they signed in March for DEA to extend its ownership of the Ras Budran and Zeit Bay oil fields […]
Eni to drill nine new wells in Egypt’s Zohr natural gas field until 2020
Italy’s Eni is planning to drill nine new development wells in the Zohr gas field until 2020 to achieve production targets agreed upon with the Oil Ministry, an industry source told the press. Zohr’s development plan involves drilling 20 wells, 11 of which have already been drilled. The company is planning to link the 11th […]
SDX Energy announces Egypt operational and corporate update
Highlights Development of South Disouq (SDX 55% working interest and operator) continues on schedule and on budget, with factory acceptance tests for the central processing facility (“CPF”) and compressor, the first of three project milestones, now successfully completed. Both pieces of equipment are now commencing the process of being shipped to Egypt with a view […]
Key Energy: New Developments for the Renewable Energy International Expo
An extremely comprehensive offer for the Italian Exhibition Group appointment. at Rimini Expo Centre, with Key Solar, Key Storage, Key Wind, Key Efficiency and Sustainable City. The debut of DPE- Distributed Power Europe. From 5th to 8th November, simultaneously with Ecomondo. From renewable sources to storage systems, efficient energy management to digital technology and the […]
