Newsletter subscribe
Archive

Egypt approves Chinese coal-fired power plant proposals

Posted: January 10, 2016 at 7:49 pm   /   Electricity & Power

Egypt’s cabinet has approved two conditional contracts with Chinese firms to produce electricity from coal-fired plants with a total capacity of over 4000 megawatts, Electricity Minister Mohamed Shaker said. China’s Dongfang Electric Corporation plans to build a plant with a capacity of 1,980 megawatts while Shanghi Electric submitted an offer to construct four plants with […]

No Comments read more

Production in Zohr fields to begin before end of 2017

Posted: January 6, 2016 at 7:15 pm   /   Oil & Gas

EGPC Chairman: Procedures of establishing Petro Shorouk will begin to manage and develop Zohr field. Petrobel is nearing the official formation of Petro Shorouk, the company’s subsidiary that will be tasked with completing the first developmental phase of the Zohr natural gas field before the end of 2017. The Italian Eni discovered Zohr field in […]

No Comments read more

French banks to finance MIDOR Refinery expansion

Posted: January 6, 2016 at 7:12 pm   /   Oil & Gas

Egypt’s oil refinery MIDOR will finance its planned expansion, borrowing $1.2 billion from French lenders Credit Agricole and BNP Paribas, a loan that will be guaranteed by the Italian central bank and the Italian export development authority, oil minister Tarek El-Molla told Egyptian state news daily Al-Ahram. MIDOR signed in April two deals worth $1.4 […]

No Comments read more

Leviathan partners and BG close to $30 billion Egypt gas deal

Posted: January 6, 2016 at 7:06 pm   /   Oil & Gas

The plan is to sign the contract before Shell completes its acquisition of BG next month. The Leviathan partners and British Gas (BG) are negotiating the final details of a contract for exporting Israeli natural gas to Egypt, and will sign it in the coming weeks, senior sources in the gas companies said today. According […]

No Comments read more

Egypt arrears owed to oil firms rises to $3 billion at end-2015

Posted: January 4, 2016 at 4:48 pm   /   Oil & Gas

Egypt’s outstanding arrears to foreign oil companies rose to $3 billion at the end of December 2015 from $2.7 billion at the end of October, Petroleum Minister Tarek El Molla told Reuters. The ministry had said in September that Egypt aimed to reduce the arrears owed to foreign oil companies to $2.5 billion by the […]

No Comments read more

The Saipem 10000 drillship arrives at Zohr-2 well location

Posted: December 31, 2015 at 3:02 pm   /   Oil & Gas

The giant drilling vessel Saipem 10000 arrived at the site of Zohr-2 well to start drilling operations, announced Eng. Tarek El-Molla, Minister of Petroleum and Mineral Resources. Eng. El-Molla made his announcement as he chaired Petrobel’s General Assembly Meeting. The Saipem 10000 is a 5th generation ultra deepwater drillship, designed and built by Samsung Heavy […]

No Comments read more

Maridive to conduct offshore exploration in the Mediterranean

Posted: December 30, 2015 at 2:33 pm   /   Oil & Gas

Egyptian company Maridive & Oil Services S.A.E. has developed a strategy that targets natural gas exploration in Egyptian territorial waters, including the Mediterranean, according to a company source, who requested anonymity. This comes after the government halted several agreements with a number of international companies following the Zohr discovery, the largest natural gas field found […]

No Comments read more
Seven_Borealis

Subsea 7 awarded sizeable BP offshore platform extension and tie-in contract

Posted: December 30, 2015 at 2:21 pm   /   Oil & Gas

Subsea 7 has secured a contract by Burullus Gas Company S.A.E. for the platform extension and tie-in on the first phase of the West Nile Delta development of the Taurus and Libra fields by BP, offshore Egypt. Engineering and project management work will start immediately and will be undertaken at Subsea 7’s Cairo office and Subsea 7’s Global […]

1 Comment read more

Petroceltic to sell stakes in North Thekah, North Port Fouad & South Idku to Edison

Posted: December 25, 2015 at 6:07 pm   /   Oil & Gas

The Board of Petroceltic International plc, the oil and gas exploration, development and production company focused on the North Africa and the Mediterranean region, provided an operating and financial update, and announces that it has initiated a formal strategic review of the Company’s business and assets with a view to considering all options to maximise […]

No Comments read more

KCA Deutag sells Ben Loyal Jack-Up Drilling Unit to ADES

Posted: December 22, 2015 at 5:16 pm   /   Oil & Gas

Leading global drilling and engineering contractor, KCA Deutag, announced that it has sold its jack-up drilling unit, the Ben Loyal to Egyptian headquartered Advanced Energy Systems A.D.E.S. SAE for an undisclosed sum. Built in 1981 and acquired by KCA Deutag in 2005, the Ben Loyal’s operational performance has been strong and until October of this […]

No Comments read more