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EDF signs 5 MOUs and gets set for development of renewable energy in Egypt

Posted: April 20, 2016 at 10:45 pm   /   Renewables

On the occasion of the State visit by the President of the French Republic, François Hollande, EDF has signed five memoranda of understanding thus confirming its strategy for developing low carbon energy in Egypt. Three of these agreements concern the future development of EDF Energies Nouvelles projects in wind power and solar energy in partnership […]

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Zohr gas field to produce 1 billion cubic feet per day by end of 2017

Posted: April 20, 2016 at 9:44 pm   /   Oil & Gas

Egypt has agreed with Italy’s Eni to begin production of 1 billion cubic feet per day of gas at the Zohr gas field, the biggest in the Mediterranean, by the end of 2017, oil minister Tarek El Molla said on Tuesday. Zohr, discovered by Eni last year, has an estimated 30 trillion cubic feet of […]

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Egypt to launch new oil exploration round for 11 blocks in Western Desert and Gulf of Suez

Posted: April 20, 2016 at 9:32 pm   /   Oil & Gas

Egypt plans to launch a new oil exploration round next week, offering 11 blocks in the Western desert and the Gulf of Suez, Petroleum Minister Tarek el-Molla said on Tuesday. He said that Egypt also plans to launch two gas exploration rounds this year. Egypt, which used to be a net energy exporter, has become […]

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ENGIE signs LNG and renewable energy agreements with Egypt

Posted: April 19, 2016 at 7:36 pm   /   Oil & Gas, Renewables

Firstly, a cooperation agreement for further development of renewable energy with the National Renewable Energy Association (NREA) and the Egyptian Electricity Transport Company (EETC). On the occasion of  the State Visit of President François Hollande of the French Republic to Egypt, Isabelle Kocher, Deputy CEO and Chief Operating Officer of ENGIE, has signed today two […]

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GE partners with EETC to connect 7 GW of power to reinforce Egypt’s national grid

Posted: April 19, 2016 at 7:21 pm   /   Electricity & Power

• GE signed a Protocol of Cooperation with the Egyptian Electricity Transmission Company, witnessed by H.E. Egyptian President Abdel Fattah El Sisi and H.E. French President François Hollande. • GE will provide four substations worth approximately $250 million to reinforce Egypt’s national grid. • These substations will help connect more than 6.5 million homes to […]

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Petroceltic shareholder Worldview fails attempted takeover

Posted: April 19, 2016 at 6:47 pm   /   Oil & Gas

On 24 March 2016, Sunny Hill Limited, a company wholly owned by the Worldview Economic Recovery Fund, made an all cash offer to acquire the entire issued and to be issued share capital of Petroceltic International plc, other than the Petroceltic Shares in the beneficial ownership or control of Worldview and/or any of the Worldview […]

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Video: ‪Petrochemistry‬ (Total)

Posted: April 19, 2016 at 2:00 pm   /   Oil & Gas

Petrochemicals are derived from petroleum — primarily naphtha and natural gas — and, increasingly, from biomass. Watch the video and learn more about Petrochemistry. For more information, visit Planète Energies website: (Source: Total)

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GlobalData Report: BP’s Atoll field development project will reduce Egypt’s gas deficit

Posted: April 18, 2016 at 9:38 pm   /   Oil & Gas

“Analysis indicates that an investment of $945m will be required for the first phase development.” The Atoll gas discovery is of national significance for Egypt as it is expected to reduce the country’s 2bcf gas deficit, according to a report by GlobalData. Entitled ‘Egypt Atoll Project Panorama – Oil and Gas Upstream Analysis Report’, the […]

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Rockhopper Exploration acquires non-operated production and exploration assets in Egypt from Beach Energy

Posted: April 18, 2016 at 8:20 pm   /   Oil & Gas

Rockhopper Exploration plc, the oil and gas exploration and production company with interests in the North Falkland Basin and the Greater Mediterranean region, is pleased to announce amended terms for the acquisition of a portfolio of non-operated production and exploration interests in Egypt from Beach Energy Limited. The Company originally announced that it had agreed […]

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Seeking Alpha: Apache Energy – Turnaround and Future Growth

Posted: April 18, 2016 at 10:00 am   /   Oil & Gas

Summary The company has $1.5 billion in cash and a $3.5 billion credit line that does not mature until 2020. Even then it can be extended. The current ratio is nearly two-to-one. Egyptian wells are low cost and provide the means to profitably increase production. North Sea wells are more expensive but also highly profitable. […]

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