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OTC 2016: Aker Solutions Wins Engineering Achievement Award

Posted: May 6, 2016 at 1:54 pm   /   Oil & Gas

Aker Solutions this week won an engineering achievement award at the OTC conference in Houston for its El-drive subsea electric actuators which are more compact, effective and environmentally friendly than traditional hydraulic solutions. The newly developed electric actuators are designed to operate valves in subsea production and processing systems. They are friendlier to the environment […]

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SDX Energy announces US$11 million private placement and intention to apply for admission to trading on the AIM market

Posted: May 6, 2016 at 1:43 pm   /   Oil & Gas

SDX Energy, an oil & gas exploration and production company with assets in Egypt & Cameroon, has announced that the Company has effected a private placement fundraising for a total of approx. US$11 million. A total of 42,201,835 new common shares of no par value in the capital of the Company have been conditionally placed […]

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Video: GE Introduces the SeaPrime™ I Subsea MUX BOP Control System

Posted: May 6, 2016 at 1:28 pm   /   Oil & Gas

The GE Oil & Gas SeaPrime™ I Subsea BOP Control System translates electrical controls from the surface to hydraulic controls subsea that operate Blowout Preventer (BOP) systems, as deep as 12,500ft below sea level. The new fault-tolerant, two-POD design has the ability to re-route hydraulic functions while remaining subsea, preventing costly stack pulls. Access to […]

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OTC 2016: GE Oil & Gas receives Spotlight Award for subsea mux BOP control system

Posted: May 6, 2016 at 1:27 pm   /   Oil & Gas

GE Oil & Gas has received an OTC Spotlight Award for the SeaPrime, a subsea mux BOP control system. It allows drilling contractors to continue drilling if components of one point of distribution (POD) fail. This new design simplifies access to critical components, uses only two pods, and re-routes failed functions within a POD to […]

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Eni plans a further exploration well at Zohr to target deeper horizon

Posted: May 5, 2016 at 8:11 pm   /   Oil & Gas

Eni plans a further exploration well at Zohr to target deeper horizon identified on seismic data. Eni was awarded the Shorouk Offshore licence in January 2014 as part of the 2012 EGAS licensing round. The acreage had previously been part of the large NEMED block, operated by Shell. Shell shot 7,183 km2 of 3D seismic […]

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ENGIE to invest $490 million in two solar and wind energy projects

Posted: May 5, 2016 at 8:01 pm   /   Renewables

ENGIE, the French energy company, is planning to set up two plants for generating  power from sun and wind in Egypt, with $ 490 million investments, according to the company’s Regional Director for North Africa Amin Homan Lodi. Lodi told Al-Mal newspaper that the 110 million dollars first plant is due to be completed in […]

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OTC 2016: Egypt eyes free-market future as gas demand requires more development

Posted: May 5, 2016 at 12:07 am   /   Oil & Gas

The recent Zohr discovery in Egypt’s Mediterranean basin has given the country an impetus to further its move to an open oil economy, according Minister Tarek Elmolla of Egypt’s Petroleum and Mineral Resources Ministry. Among paying down its debt, reforming its subsidy programs, and adjusting natural gas prices, “attracting foreign investment is one of our […]

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Apache, BP and others expand in emerging Egypt

Posted: May 4, 2016 at 1:23 pm   /   Oil & Gas

Houston-based Apache Corp. focused on growing in U.S. shale plays and selling most of its international holdings. But now that the oil bust is in full bloom, especially in North America, Apache’s chief executive is glad the company held onto its assets in Egypt. “In a sub-$50 oil world, the international assets really shine through,” […]

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Bechtel’s ThruPlus® Delayed Coking Technology Selected for Assiut Refinery in $1.5bn upgrade project

Posted: May 4, 2016 at 1:05 pm   /   Oil & Gas

Company Partners with Assiut Oil Refining Company (ASORC) for a New Delayed Coking Unit. “Implementation of Bechtel’s ThruPlus® technology combined with our delayed coking expertise and extensive experience of our people will increase the efficiency of the Assiut refinery” — Dan Olsen, president of Bechtel Hydrocarbon Technology Solutions. Bechtel has signed a license agreement with […]

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OTC 2016: Lankhorst Ropes receives Spotlight Award for soft rope system

Posted: May 4, 2016 at 1:59 am   /   Oil & Gas

Lankhorst Ropes has received an OTC Spotlight Award for the LankoDeep – soft rope system. The soft rope system is a collaboration between Lankhorst Ropes, Deep Tek, and DSM Dyneema. It is capable of handling heavy loads at water depths of more than 3,000 m (9,842 ft). The system comprises Lankhorst Ropes’ LankoDeep rope, DSM […]

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