ADES to acquire 31 onshore drilling rigs from Weatherford for $287m
ADES International Holding Ltd., which provides oil and gas drilling and production services in the Middle East and Africa, announced plans to acquire 31 onshore drilling rigs from Weatherford International PLC for $287.5 million. Terms call for ADES to acquire Weatherford’s onshore drilling operations, including associated assets, contracts, management systems and 2,300 employees and contract […]
DEA appoints Sameh Sabry as new Egypt General Manager
Sameh Sabry has been named General Manager of DEA Egypt, succeeding Thomas Radwitz. DEA Deutsche Erdoel AG has named Sameh Sabry as the new General Manager of DEA Egypt. He will take over the responsibilities as of 1 August 2018. On the occasion of the hand over, CEO Maria Moraeus Hanssen participated in the farewell […]
Eni announces second oil discovery at Faghur Basin in Egypt’s Western Desert
The discovery confirms the high potential of deep geological sequences of the Faghur Basin. Eni announces a second light oil discovery on the B1-X exploration prospect located in South West Meleiha license, in the Egyptian Western Desert, some 130 Km North of the oasis of Siwa. The well is the second one drilled by Eni […]
Suez Canal amends regulations to encourage LNG carrier traffic
Suez Canal Authority has decided to amend the regulations related to the residue cargo requirements for liquefied natural gas (LNG) carriers. According to the SCA notice, the allowed residues of LNG cargo shall not exceed 5 percent of the vessel’s summer deadweight instead of 2 percent to grant the LNG vessels the privilege of ballast […]
Eni denies talk of major new gas discovery offshore Egypt
Italian oil and gas group Eni has denied media reports that it has made a major new discovery in Egypt. “There are prospects and new (geological) structures in Egypt but we still haven’t discovered anything…,” Chief Executive Claudio Descalzi told reporters on Monday. He was commenting on the recent reports, including one in the Arab […]
Saipem, PMS secure Zohr gas field operational life contract
Saipem, in consortium with Petroleum Marine Services (PMS), has secured a contract for life of field operations in the framework of Petrobel’s Zohr deepwater field development located in the Mediterranean Sea, off Egypt. Petrobel, jointly held by Eni and the Egyptian General Petroleum Corporation (EGPC), is in charge of Zohr development, on behalf of Petroshorouk, […]
Is Eni about to announce another major gas discovery in Egypt?
Former Minister’s comments hint at another big find. Eni announced Zohr find in 2015. A former Egyptian petroleum minister has caused a stir by suggesting that Italian energy giant Eni is about to announce another massive gas find – three times as big as its existing offshore field. Eni revealed almost three years ago that […]
Chinese consortium wins contract for Hamrawein coal-fired plant
The Chinese alliance offered the lowest price of $4.4 billion to execute the project. State-run Egyptian Electricity Holding Company announced that a consortium of China’s Shanghai Electric and Dongfang Electric Cooperation, and Egypt’s Hassan Allam Construction has officially won the establishment of a 6,000-megawatt coal-fired power plant in Hamrawein, the Red Sea. The Chinese alliance […]
Bloomberg: Egypt may have issued its last LNG tender
Minister says imports probably not needed in fourth quarter. Talks started to compensate operators of LNG export terminals. Egypt may have just issued its last LNG tender, setting the stage to resume exports next year. Imports of liquefied natural gas may stop in the fourth quarter, allowing for exports to start early next year as […]
Eni to make $3 billion new investment in Egypt’s Zohr, Nooros gas fields
Egypt seeks to speed up production from recently discovered gas fields, with the aim of halting gas imports by 2019 and achieving self-sufficiency. Italian energy company Eni has so far invested $8.4 billion in Egypt’s offshore Nooros and Zohr gas fields and is planning to make a $3 billion new investment in the near future, […]
