Chevron to be awarded two blocks in Egypt’s Western Mediterranean – MEES
Chevron To Bag Egypt West Med Blocks As Bidding Canned: MEES learns that Egypt’s oil ministry has cancelled plans to launch a bid round for eight ‘West Med’ blocks. Twelve months on from first announcing the imminent launch of a bid round for eight Western Mediterranean offshore blocks, MEES learns that Cairo has decided it […]
Edison spuds Ameeq-1X well at its North Thekah concession offshore Egypt
North Thekah ( Ameeq – 1X ) Drilling Announcement: Edison Exploration and Production announces the spud, on the 18th of January 2020, of a first exploration well in its North Thekah concession located in the Egyptian Eastern Mediterranean waters. Edison Exploration and Production hold a 100 percent working interest in this concession. The operation for […]
MEES: Egypt’s independent Cheiron is frontrunner for Dana Gas’ assets
Egypt’s Cheiron Tipped For Dana Assets: MEES learns that Egyptian independent Cheiron is the frontrunner for UAE-based Dana Gas’ Egypt acreage, which was officially put on sale for $500 million in July last year. Dana’s decision to sell-up was precipitated following the flop of its Merak prospect, located in the country’s Mediterranean offshore, north of […]
Egypt signs 9 Oil & Gas E&P agreements in Mediterranean, Western Desert
EGPC signs USD 450 million in Oil and Gas E&P agreements: The state-owned Egyptian General Petroleum Corporation (EGPC) yesterday signed nine oil and gas exploration and production agreements that will see companies invest at least USD 452 million to drill 38 wells in concessions in the Mediterranean and Western Desert, the cabinet said in a […]
Egypt to directly award West Mediterranean O&G exploration rights
Egypt will directly award contracts for oil and gas exploration blocks in the Western Mediterranean to companies equipped to drill in deep water, Oil Minister Tarek El Molla told CNBC Arabia. The government plans to offer some concessions through bid rounds, but the priority is to select companies with advanced technology to drill in the […]
Mubadala-backed Alcazar Energy considers sale of Egypt, Jordan assets
Potential sale is precursor to firm raising another fund. Governments seek to increase renewable-energy sources. Alcazar Energy Ltd., backed by Abu Dhabi’s Mubadala Investment, is preparing the sale of some of their solar and wind assets in Egypt and Jordan, people with knowledge of the matter said. The renewable-energy developer is in talks with banks […]
Egypt’s push to become East Mediterranean gas hub – Reuters FactBox
Egypt began importing gas from Israel’s largest offshore gas field, Leviathan, on Wednesday, a step Cairo hopes will help it become a regional energy hub. Rapid growth in Egypt’s natural gas supplies, boosted by the discovery of the Mediterranean’s largest field, turned it from a net importer to exporter in late 2018. ISRAEL DEAL Egypt’s […]
Borouge sets up petrochemicals marketing company in Egypt
Borouge, a UAE petrochemicals company, said that it has set up a new marketing company in Cairo, Egypt to support its MENA growth strategy. The company, which provides plastics solutions, is looking to meet customer requirements in the region and said the new marketing company reflects its strong business relationship with customers in this fast-growing […]
Dragon Oil completes acquisition of BP’s Gulf of Suez assets (GUPCO)
Emirates National Oil Company (ENOC) subsidiary Dragon Oil has wrapped up its acquisition of BP’s Gulf of Suez assets for USD 500 million, the Oil Ministry said in a statement. A conflicting report by Al Arabiya puts the transaction value at USD 850 million, although the source of the figure remains unclear. BP and Dragon […]
China’s Gezhouba signs $287.5 mn contract to build solar plants in Egypt
Chinese state-owned construction and engineering company China Gezhouba has secured a USD 287.5 mn contract to build an undisclosed number of solar plants across Egypt with a combined capacity of 500 MW, according to Renewables Now. The agreement is for a period of three years. China Energy Engineering subsidiary to install 500 MW of solar […]
