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Tag: BP
Gupco BP

BP divests its Gulf of Suez mature oil concessions in Egypt to Dragon Oil

Posted: June 3, 2019 at 5:47 pm   /   Oil & Gas

BP to divest mature oil assets in Egypt to Dragon Oil. BP has agreed to sell its interests in Gulf of Suez oil concessions in Egypt to Dragon Oil, the Dubai-based oil and gas company.  Under the terms of the agreement, Dragon Oil will purchase producing and exploration concessions, including BP’s interest in the Gulf […]

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BP

BP nears sale of its stake in GUPCO to Dragon Oil for over $600 million

Posted: May 25, 2019 at 9:34 pm   /   Oil & Gas

BP is nearing the sale of its stake in a major Egyptian oil and gas company to Dubai-based Dragon Oil for over $600 million, industry and banking sources said. The sale, which is expected to complete in the coming weeks, would mark the end of BP’s 50-year-old partnership in the Gulf of Suez Petroleum Company […]

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Maersk Discoverer

Maersk Drilling secures work for three offshore rigs

Posted: May 17, 2019 at 3:58 pm   /   Oil & Gas

Maersk Drilling has signed two new contracts and one contract extension since the end of 1Q 2019. One firm three-year contract is with Inpex Australia for the ultra-deepwater semisubmersible Mærsk Deliverer, starting in 2Q 2020, with two one-year extension options. Value of the firm period is $300 million, equivalent to a day rate of $266,200. […]

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Sapura

Sapura Energy secures Gulf of Suez work offshore Egypt

Posted: April 25, 2019 at 8:39 am   /   Oil & Gas

Sapura Offshore Sdn Bhd has received a subcontract from Pan Marine Petroleum Services Co. The work scope includes the installation of six new subsea pipelines in the Gulf of Suez for the Gulf of Suez Petroleum Co., a joint venture between BP plc and Egyptian General Petroleum Corp., the national oil company. Works will be […]

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BP

ENOC’s Dragon Oil to acquire BP’s mature assets in Egypt?

Posted: April 17, 2019 at 8:36 am   /   Oil & Gas

Emirates National Oil Company (ENOC) subsidiary Dragon Oil is set to acquire unspecified assets in Egypt within the next three to four months, Dragon Oil CEO Ali Al Jarwan told Oil & Gas Middle East. According to Al Jarwan, the asset should add 70k bpd to the company’s production. While Al Jarawan did not disclose […]

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DEA WND

DEA: First Gas from Giza, Fayoum WND fields offshore Egypt

Posted: February 12, 2019 at 9:48 am   /   Oil & Gas

Next milestone at DEA’s West Nile Delta project: First Gas from the Giza and Fayoum fields offshore Egypt. Production start from additional two gas fields in time and below budget. West Nile Delta contributes to DEA’s continuous growth. Maximum rate from Giza and Fayoum of approximately 700 mmscfd expected. DEA and operator BP commenced production […]

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Rosneft

Zohr gas field offshore Egypt building to peak capacity – Rosneft

Posted: February 5, 2019 at 1:30 am   /   Oil & Gas

Gas produced from the deepwater Zohr field in the Egyptian sector of the Mediterranean Sea totaled 12.2 bcm last year, according to partner Rosneft. During the second half of the year, output increased almost fourfold compared with H1, when production amounted to 3.1 bcm. Over the course of 2018, the treatment capacity was increased in […]

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egypt-offshore-eni-blocks-sep18

BP buys 25% stake in Eni’s Nour concession offshore Egypt

Posted: December 10, 2018 at 2:01 pm   /   Oil & Gas

BP buys 25% stake in Eni’s Nour concession: BP has acquired a 25% stake in the Nour concession from Eni, according to a statement from Eni. Industry watchers hope the offshore North Sinai concession could be a Zohr-scale discovery. The “transaction is part of a wider business alignment with BP internationally and further strengthens the […]

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BP CEO

BP to spend $2.8bn in Abu Dhabi, Egypt to boost Middle East presence

Posted: November 12, 2018 at 1:29 pm   /   Oil & Gas

Oil major BP aims to spend $1.8 billion in Egypt next year and $1bn annually in Abu Dhabi as it looks to expand its operations in the Middle East on the back of new discoveries and licensing rounds, according to its chief executive. BP, one of the world’s largest oil companies and the earliest explorer […]

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BP

BP looking to grow in Egypt, will not increase stake in Zohr field

Posted: October 28, 2018 at 2:51 pm   /   Oil & Gas

BP CEO Bob Dudley told Reuters on Thursday that BP was looking to grow in Egypt where it is developing the West Nile Delta project. BP had pledged USD 2 billion in new investments in 2019. That said, BP will not raise its stake in Zohr for “capital employment reasons,” Dudley said. The option for […]

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