Newsletter subscribe
Tag: Egypt
Borouge Egypt

Borouge sets up petrochemicals marketing company in Egypt

Posted: January 14, 2020 at 3:33 pm   /   Oil & Gas

Borouge, a UAE petrochemicals company, said that it has set up a new marketing company in Cairo, Egypt to support its MENA growth strategy. The company, which provides plastics solutions, is looking to meet customer requirements in the region and said the new marketing company reflects its strong business relationship with customers in this fast-growing […]

No Comments read more
Dragon Oil GUPCO

Dragon Oil completes acquisition of BP’s Gulf of Suez assets (GUPCO)

Posted: January 14, 2020 at 3:29 pm   /   Oil & Gas

Emirates National Oil Company (ENOC) subsidiary Dragon Oil has wrapped up its acquisition of BP’s Gulf of Suez assets for USD 500 million, the Oil Ministry said in a statement. A conflicting report by Al Arabiya puts the transaction value at USD 850 million, although the source of the figure remains unclear. BP and Dragon […]

No Comments read more
China Gezhouba

China’s Gezhouba signs $287.5 mn contract to build solar plants in Egypt

Posted: January 14, 2020 at 3:21 pm   /   Renewables

Chinese state-owned construction and engineering company China Gezhouba has secured a USD 287.5 mn contract to build an undisclosed number of solar plants across Egypt with a combined capacity of 500 MW, according to Renewables Now. The agreement is for a period of three years. China Energy Engineering subsidiary to install 500 MW of solar […]

No Comments read more
Pharos

Pharos Energy announces trading and Egypt operations update

Posted: January 8, 2020 at 1:26 pm   /   Oil & Gas

Pharos Energy has issued a trading and operations update to summarise recent operational activities and to provide trading guidance in respect of the financial year to 31 December 2019. This is in advance of the Company’s Preliminary results due to be announced on 11 March 2020. The information contained herein has not been audited and […]

No Comments read more
Shell

Shell submits proposal to sell natural gas to the Egyptian local market

Posted: January 8, 2020 at 1:10 pm   /   Oil & Gas

Shell Egypt wants to sell natgas to the local market: Shell Egypt has submitted a request to the Gas Regulatory Authority to allow it to sell gas to customers in the local market using the national grid, Shell Egypt Deputy Country Chair Moataz Darwish told Al Mal. The process could take years to complete and […]

No Comments read more
Egypt-South-Disouq SDX

SDX announces reserves upgrade at South Disouq onshore concession

Posted: January 7, 2020 at 8:54 pm   /   Oil & Gas

SDX Energy, the MENA-focused oil and gas company, has announced that upon completion of an independent technical and economic audit of the reserves at its operated South Disouq concession (SDX: 55% working interest), Gaffney, Cline & Associates (GCA) has reported that gross proved plus probable reserves (‘2P reserves’), as at 30 September 2019, are 86 […]

No Comments read more
ExxonMobil

ExxonMobil secures over 1.7 mn acres for exploration offshore Egypt

Posted: December 31, 2019 at 1:07 pm   /   Oil & Gas

ExxonMobil secures exploration acreage offshore Egypt Acquires more than 1.7 million acres offshore Egypt Adds upstream interests to longstanding downstream business in Egypt Exploration operations scheduled to begin in 2020 “These awards strengthen our exploration portfolio in the Eastern Mediterranean,” said Mike Cousins, senior vice president of exploration and new ventures at ExxonMobil. “We look […]

No Comments read more
Red Sea Bid Round Result

Egypt announces Red Sea Offshore Bid Round result, awards 3 blocks

Posted: December 29, 2019 at 7:55 pm   /   Oil & Gas

Egypt’s Minister of Petroleum and Mineral Resources Tarek al-Molla announced on Sunday the results of the first international bid round for oil and gas exploration in the Red Sea, put up for bidding by the South Valley Egyptian Holding Company for Petroleum (Ganope) last March. The American Chevron Corporation won block one, while the Dutch […]

No Comments read more
MOP Signing

Egypt signs four Oil & Gas E&P Agreements worth $155 million

Posted: December 26, 2019 at 12:14 pm   /   Oil & Gas

The Egyptian General Petroleum Company (EGPC) and Ganope have signed four oil and gas exploration and production agreements that will see companies invest at least USD 155 mn to develop concessions in the Gulf of Suez, Nile Valley, and the westert desert, according to an Oil Ministry statement. The agreements also include USD 10.5 mn-worth […]

No Comments read more
Zarubezhneft

Russian Zarubezhneft joins two offshore oil concessions in Egypt

Posted: December 25, 2019 at 1:10 pm   /   Oil & Gas

Russian state-owned energy company Zarubezhneft has joined two offshore oil concessions in Egypt under a production-sharing agreement, Reuters’ Arabic service reports, without disclosing the value of the agreement or the other party. The report indicates that one of the blocks is in southeast Ras El Ush and the other is East of Gabal El Zeit […]

No Comments read more