Newsletter subscribe

Egypt evaluates 8 state-owned oil companies for IPO or share-issuance

Posted: August 3, 2016 at 12:40 pm   /   Oil & Gas

Egypt’s Ministry of Investment will assess eight state-owned petroleum companies for their suitability for a possible listing on the Egyptian Stock Exchange or share issuances, Petroleum Minister Tarek El Molla told Reuters on Tuesday. The Egyptian presidency announced in January that Egypt would soon offer shares of “successful” state-owned companies and banks on the local […]

No Comments read more

Four companies expressed interest in exploration blocks tendered by EGPC

Posted: August 3, 2016 at 12:33 pm   /   Oil & Gas

Four companies have expressed interest in the 11 E&P projects in the Gulf of Suez and the Western Desert tendered by EGPC earlier this year, including US firms Apache Crop, Eos Petro, Greece’s Aegean Oil, and a Chilean company, sources at EGPC told Al Mal. The authority has not received bids from any of the […]

No Comments read more

GASCO to hire domestic companies for transporting natural gas from Raven field to Western Desert Gas Complex

Posted: August 2, 2016 at 2:08 pm   /   Oil & Gas

The Egyptian Natural Gas Company (GASCO) could potentially hire domestic energy companies such as Enppi and Petrojet to provide technical support as well as engineering and design services to transport gas from the Raven field in the North Alexandria Concession to the Western Desert Gas Complex, an unnamed source told Al Mal. Natural gas would […]

No Comments read more
Castoro Sei

Saipem’s Castoro Sei pipelayer platform for Zohr work docks at Limassol, staying six months

Posted: August 1, 2016 at 8:24 pm   /   Oil & Gas

Saipem’s pipelayer Castoro Sei (Beaver Six) was fully ensconced at Limassol port on Sunday before starting work on underwater pipelines for Egypt’s giant Zohr gasfield. The Zohr gas field was discovered by Eni in August 2015, using the drillship Saipem 10000, which is still operating in the area. The ‘floating factory’ Castoro Sei will remain […]

No Comments read more

Ganope launches International Bid Round for oil and gas exploration in Western Desert and Gulf of Suez

Posted: August 1, 2016 at 1:57 pm   /   Oil & Gas

Egypt’s state-owned Ganoub El-Wadi Petroleum Holding Company (Ganope) issued a new international tender for oil and gas drilling and exploration in 10 sectors in the southern areas of the Western Desert and Gulf of Suez. Egyptian oil minister Tarek El-Molla stated Sunday that the bid includes five areas notably in West Gabal El Zeit, South […]

No Comments read more

SPE’s Heavy Oil Conference and Exhibition Receives Patronage of H.E. Anas Al-Saleh

Posted: August 1, 2016 at 1:38 pm   /   Oil & Gas

The SPE Heavy Oil Conference and Exhibition, in its third edition will be held from 6–8 December 2016 in Kuwait at the Hilton Kuwait Resort. Themed “Future of Heavy Oil: Challenges and Opportunities”, the agenda for this edition will focus on long-term projections and predictions on the future of heavy oil through the eyes of […]

No Comments read more

Eni, BP target daily production of 350m cubic feet of gas from South Baltim field

Posted: July 31, 2016 at 7:51 pm   /   Oil & Gas

Six wells will be linked from the new discovery to the national grid by the end of 2016/2017, says source. The Italian oil company Eni and British BP will target the production of 350m cubic feet per day of gas from the discovery in South Baltim (east of the Nile Delta) by the end of […]

No Comments read more
mineral technologies

Egyptian Company for Black Sands to launch tender in 2 months

Posted: July 29, 2016 at 4:33 pm   /   Oil & Gas

The Egyptian Company for Black Sands was recently launched with a capital of EGP 1bn. Armed forces own 61% of shares, while NMA, NIB, Kafr El-Sheikh, EMRA collectively own 39%. Ashraf Soltan, chairperson and managing director of the company, told Daily News Egypt that the company is going to put up a tender to buy […]

No Comments read more

International Cooperation Ministry signs MoU with TBEA China to build 1,000 MW solar power plant

Posted: July 29, 2016 at 4:09 pm   /   Renewables

The International Cooperation Ministry has signed an MoU with electrical equipment manufacturer TBEA China to build a 1,000 MW solar power plant at the Military Production Ministry Headquarters, Al Mal reported. The International Cooperation Ministry will assist in funding the feasibility study and construction, said Minister Sahar Nasr. The MoU also aims to establish a […]

No Comments read more

Italy's Enel Green Power exits Egypt's renewable energy market over price and arbitration disagreements

Posted: July 26, 2016 at 8:32 pm   /   Renewables

Italy’s Enel Green Power has exited the Egyptian renewable energy market and is seeking compensation for investments it has already injected, according to Al-Borsa newspaper. The move comes as international investors and the government disagree on the government’s insistence over domestic arbitration and pricing concerns due to lingering fears of further devaluation of the Egyptian […]

No Comments read more