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Tag: Eastern Desert

Egypt and cashflow are the key to TransGlobe Energy’s recovery

Posted: September 23, 2017 at 11:03 pm   /   Oil & Gas

Company believes Egypt still offers a fantastic opportunity for oil exploration. Egypt has been a tough place to operate for oil and gas companies in recent years, especially the western ones. Markets are also wary given the political upheaval, but Toronto and NASDAQ-listed oil producer TransGlobe Energy Corporation reckons the share price treatment it has […]

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Video: TransGlobe well positioned for strong growth in Egypt, CEO says

Posted: September 19, 2017 at 3:39 pm   /   Oil & Gas

Ross Clarkson, president and CEO of TransGlobe Energy Corporation chats with Proactive’s Andrew Scott about the group’s assets in Canada and Egypt. ”We’ve been in business 22 years, I created the company and we have been active explorers and developers for that period of time”, Clarkson says. TransGlobe will be developing new oil fields in […]

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El Molla: Eight Oil & Gas Exploration Agreements to be finalized soon

Posted: September 19, 2017 at 1:56 pm   /   Oil & Gas

The Ministry of Petroleum and Mineral Resources is reviewing Egypt’s vast arid land in the Eastern & Western Deserts as well as the Suez Gulf, as it seeks security approvals before initiating new tenders for exploring gas and oil there, in addition to 8 exploration deals due to be sealed soon, according to Minister Tarek […]

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Egypt to resolve energy issues with 21 new oil & gas projects in 3 years

Posted: September 19, 2017 at 1:38 pm   /   Oil & Gas

The petroleum sector is starting to regain its strength after the difficult period that followed the 25 January and the 30 June revolutions. The sector managed, over the past four years, to achieve distinct results in all petroleum fields after the return of political stability and security, backed by efforts and procedures made by the […]

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GPC

NBE, Banque Misr to finance GPC exploration and drilling with EGP 3 billion loan

Posted: August 16, 2017 at 8:57 pm   /   Oil & Gas

The National Bank of Egypt (NBE) and Banque Misr are arranging a EGP 3 billion facility for the General Petroleum Company (GPC) to finance exploration and drilling operations, as well as debt restructuring, Al Mal reports. NBE and Banque Misr are in talks with a number of banks including the Egyptian Arab Land Bank, Credit […]

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TransGlobe announces Q2 2017 financial and operating results

Posted: August 15, 2017 at 11:17 pm   /   Oil & Gas

TransGlobe Energy Corporation announced its financial and operating results for the three and six months ended June 30, 2017.  All dollar values are expressed in United States dollars unless otherwise stated. TransGlobe’s Condensed Consolidated Interim Financial Statements together with the notes related thereto, as well as TransGlobe’s Management’s Discussion and Analysis for the three month […]

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GPC launches Bid Round for two blocks in the Eastern Desert

Posted: August 13, 2017 at 10:15 pm   /   Oil & Gas

The General Petroleum Company (GPC) invites specialized petroleum companies in the fields of oil & gas exploration and production to submit offers for undertaking oil and gas exploration and production services in two GPC Concession Areas in the Eastern Desert in the Arab Republic of Egypt, with the target of explore these blocks to achieve […]

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Naftogaz struggles to find advisor for selling Egypt assets

Posted: June 21, 2017 at 4:37 pm   /   Oil & Gas

Naftogaz repeatedly fails to find advisor to assess appropriateness of selling Egypt assets. National joint-stock company Naftogaz Ukrainy has annulled the second tender to provide investment banking services related to Naftogaz upstream assets in Egypt and search for potential buyers, as less than two bids were submitted. According to a report in the ProZorro e-procurement […]

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IPR

IPR Energy Group announces its third discovery of 2017 in Egypt

Posted: June 5, 2017 at 5:32 pm   /   Oil & Gas

Texas Independent IPR Energy Group (IPR) reports continued drilling success and a series of Western Desert and Nile Delta, Egypt, discoveries through the first five months of the year. IPR’s 2017 calendar year drilling program in Egypt budgeted 23 wells, making this one of the most active years operationally for IPR since its 1993 acquisition […]

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Ukrainian Naftogaz considers selling Egyptian assets

Posted: March 2, 2017 at 3:02 pm   /   Oil & Gas

National joint-stock company Naftogaz Ukrainy intends to attract an investment and banking advisor who will assess how much the company can receive from sale of its assets in Egypt, Naftogaz Commercial Director Yuriy Vitrenko has said. “He will assess real offers and how much [buyers] are ready to give for this project. We will compare […]

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