Egypt allows Eni, BP to export gas through Idku LNG liquefaction plant
The ministry of petroleum has allowed Eni and British Petroleum (BP) to export gas from Zohr and North Alexandria fields through Idku liquefaction factory in accordance with the development agreements of these projects. A source from the petroleum sector told Daily News Egypt that the government has allowed Eni and BP to export gas after […]
Siemens to support digitalization of Egypt’s energy transmission network
Project aims to ramp up transmission capacity in the delta area, northern Egypt. Siemens to deliver the country’s first digital power transformer. Intelligent transformers to facilitate better asset management, while enhancing reliability and optimizing costs. Siemens today announced that it has signed an agreement with the Egyptian Electricity Transmission Company (EETC) to supply the country’s […]
Dragon Oil CEO Ali Al Jarwan comments on GUPCO acquisition from BP in Egypt
In an interview with Oil & Gas Middle East, Dragon Oil CEO Ali Al Jarwan revealed the company’s progress on its $13bn expansion plans. Dragon Oil, the exploration and production arm of Emirates National Oil Company (ENOC), is in the process of finalising an acquisition in Egypt which will add 70,000 barrels per day of […]
BP divests its Gulf of Suez mature oil concessions in Egypt to Dragon Oil
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 […]
Egypt to offer 11 blocks in West Mediterranean Bid Round by Q1-2020
EGAS plans fresh WestMed gas exploration tender: The Egyptian Natural Gas Holding Company (EGAS) plans to put some 11 natural gas exploration blocks in the western Mediterranean up for auction by 1Q2020, a source from the company told Al Shorouk. EGAS has finalized studies and seismic scans, and is waiting for the Oil Ministry to […]
TransGlobe SGZ-6X discovery due on stream in new development lease
TransGlobe Energy Corp., Calgary, plans to bring its South Ghazalat (SGZ)-6X discovery in Egypt’s Western Desert on production at an initial rate of 1,000 b/d of 34° gravity crude oil in this year’s fourth quarter under a newly approved develop lease. The company will use initial production from the Late Cretaceous Upper Bahariya formation to […]
Egypt mulls offers from Zarou, Edra to take over Siemens Power Plants
Egypt is considering offers from a Blackstone Group unit and Edra Power Holdings Sdn Bhd of Malaysia to take over three power plants co-built by Siemens AG — a move that could cut the North African nation’s debts while bringing in much-needed foreign investment. Both Blackstone’s Zarou Ltd. and Edra have voiced interest in the […]
BP nears sale of its stake in GUPCO to Dragon Oil for over $600 million
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 […]
Egypt offers 13 LNG cargoes for June-July Idku loading – sources
Egypt’s natural gas company (EGAS) has offered up to 13 liquefied natural gas (LNG) cargoes for loading from the Idku plant over June and July, industry sources said on Wednesday. The cargoes were offered through more than one tender and on a free-on-board (FOB) basis, the two sources said. The tenders close on May 19, […]
Maersk Drilling secures work for three offshore rigs
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. […]
