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Tag: Acquisition
ADNOC TOTAL EGYPT

ADNOC Distribution to acquire 50% stake in TotalEnergies’ Fuel Retail and Lubricants Business in Egypt

Posted: July 29, 2022 at 7:35 pm   /   Oil & Gas

Delivering on its commitment to pursue attractive international growth, ADNOC Distribution signs an agreement to acquire a stake in a significant portfolio, which includes 240 fuel retail stations, wholesale fuel, aviation fuel and lubricants operations. c. $203 million investment is the largest in ADNOC Distribution’s history. The acquisition will accelerate ADNOC Distribution’s international growth following […]

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Lekela

Infinity & AFC buy Lekela in Africa’s largest-ever renewables acquisition

Posted: July 19, 2022 at 8:50 am   /   Renewables

Infinity will become Africa’s largest renewables player through Lekela acquisition. Infinity + AFC just sealed Africa’s largest-ever renewables acquisition: Renewables player Infinity Group and Africa Finance Corporation (AFC) have signed an agreement to acquire 100% of Lekela Power in what is Africa’s largest renewables acquisition, the companies involved said in separate statements. The acquisition will give […]

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Shell subsidiary BG Egypt acquires 100% stake in ExxonMobil’s North East El Amriya offshore block

Posted: May 18, 2022 at 7:42 pm   /   Oil & Gas

SHELL STRENGTHENS ITS OFFSHORE POSITION IN EGYPT’S NILE DELTA – ACQUIRES OFFSHORE BLOCK 3 BG International Limited., a subsidiary of Shell plc., signed a Farm Out Agreement (FOA) with ExxonMobil Egypt (Upstream) Limited to acquire a 100% stake in the ExxonMobil-operated North East El-Amriya Offshore Area, Mediterranean Sea – also known as Block 3. On […]

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TAQA Arabia acquires Rosetta Energy’s LNG Arm to unlock LNG Market growth in Egypt & Africa

Posted: May 16, 2022 at 7:26 pm   /   Oil & Gas

TAQA Arabia, the full-service energy and utility distribution market leader in Egypt, announced the acquisition of Rosetta Energy’s LNG arm to expand its business portfolio in Egypt, Africa and the Middle East. Rosetta is an international energy developer and operator focused on developing the full LNG value chain to supply industrial, commercial, and residential customers […]

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ipr

IPR Completes Transaction with Pharos for Western Desert Assets Acquisition

Posted: March 28, 2022 at 12:44 pm   /   Oil & Gas

Texas-based IPR Energy Group (“IPR”) announced the completion of its acquisition of Operatorship and majority Working Interest of 55% of Pharos Energy plc (“Pharos”) in the El Fayum and North Beni Suef Concessions in the Western Desert, as part of its aggressive expansion strategy in Egypt. This latest acquisition, spanning 6,624 km2 in the Western […]

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siemens

Siemens, Desert Technologies JV to invest $25 mn in solar energy, acquisitions in Egypt

Posted: February 23, 2022 at 8:47 pm   /   Renewables

Siemens-backed JV to invest USD 25 mn in Egypt’s solar infrastructure: Capton Energy — a newly established joint venture between Siemens’ financing arm, Siemens Financial Services, and Saudi-based solar energy firm Desert Technologies — plans to invest USD 25 mn in new and existing solar energy projects in Egypt in a first stage, Al Borsa quotes Desert Technologies’ […]

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SOLARIZE-AMARENCO

SolarizEgypt, Amarenco sign $255 million acquisition, joint-venture agreement

Posted: February 23, 2022 at 8:18 pm   /   Renewables

Amarenco Group and SolarizEgypt announce the establishment of a new partnership in Egypt. This definitive agreement between both parties agrees that Amarenco shall acquire 74% of SolarizEgypt’s portfolio and co-develop 300MW of assets at an estimated budget of 4 billion Egyptian Pounds (255MUSD) in the next four years. This Joint Venture between both parties is […]

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Cairn Energy

Cairn expects to finalize Shell Egypt onshore assets acquisition by end of month

Posted: September 8, 2021 at 1:45 pm   /   Oil & Gas

Cairn, Cheiron could replace Shell in the Western Desert before the month is out: Cairn Energy and partner Cheiron expect to finalize its takeover of Shell Egypt’s onshore oil and gas assets by the end of September, Cairn said yesterday. The joint acquisition, which will see the assets split 50-50 between the UK-listed company and leading Egyptian […]

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Energean

Energean plc announces its 2020 Financial and Operating Results

Posted: April 22, 2021 at 2:08 pm   /   Oil & Gas

Energean Oil and Gas plc, the oil and gas producer focused on the Mediterranean, is pleased to announce its audited full-year results for the year ended 31 December 2020 (“FY 2020”). Despite the challenges of 2020, Energean was able to report extraordinary achievements that are going to reinforce the company’s position and open new expansion […]

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Signing Edison E&P Acquisition Photo

Energean announces completion of Edison E&P acquisition

Posted: December 19, 2020 at 11:48 am   /   Oil & Gas

Energean plc announced that it has completed its acquisition of Edison Exploration & Production S.p.A. (“Edison E&P“) from Edison S.p.A. (“Edison“). The gross consideration* for the transaction, as at the locked box date of 1 January 2019, is $284 million and the final net consideration (net of cash acquired) is 203 million. The enlarged group […]

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