Newsletter subscribe
Archive
ONS

EKH’s NSCO begins gas production from offshore North Sinai well

Posted: July 18, 2019 at 2:47 pm   /   Oil & Gas

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 […]

No Comments read more
Oil

Egypt forecasting crude oil prices at $64-68 in its new hedging contracts

Posted: July 17, 2019 at 1:25 pm   /   Oil & Gas

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 […]

No Comments read more
Maridive

UAE-based investor Najjad Zeenni acquires $37 mn stake in Maridive

Posted: July 15, 2019 at 3:12 pm   /   Oil & Gas

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. […]

No Comments read more
LNG

EGAS to offer three LNG shipments from Idku plant in August

Posted: July 14, 2019 at 6:46 pm   /   Oil & Gas

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)

No Comments read more
Cyprus

Egypt, Cyprus gas infrastructure has “significant potential” to draw capital

Posted: July 14, 2019 at 6:44 pm   /   Oil & Gas

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 […]

No Comments read more
Tarek El Molla

Egypt’s arrears to IOCs reduced to $900 million at end of June – El Molla

Posted: July 13, 2019 at 12:12 pm   /   Oil & Gas

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 […]

No Comments read more
Winteshall Dea

Wintershall Dea discusses future cooperation in E&P activities with Egypt

Posted: July 10, 2019 at 1:04 pm   /   Oil & Gas

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 […]

No Comments read more
Eni Egypt

Eni to drill nine new wells in Egypt’s Zohr natural gas field until 2020

Posted: July 10, 2019 at 12:57 pm   /   Oil & Gas

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 […]

No Comments read more
sdx

SDX Energy announces Egypt operational and corporate update

Posted: July 8, 2019 at 3:04 pm   /   Oil & Gas

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 […]

No Comments read more
Key Energy

Key Energy: New Developments for the Renewable Energy International Expo

Posted: July 8, 2019 at 12:13 pm   /   Renewables

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 […]

No Comments read more