PICO Cheiron announces acquisition of Sahara North Bahariya
PICO Cheiron Group announced that it has completed the corporate acquisition of Sahara North Bahariya, giving the Group ownership of a 50% Working Interest and Operatorship of the North Bahariya concession in the Western Desert. The North Bahariya concession covers an area of around 177 square kilometers and contains six oil fields, namely Abrar, Ferdaus, […]
Lekela Power nears contract finalization for $350m wind farm investment
Lekela Power, the pan-African renewable operator that is reportedly 60% owned by funds controlled by emerging markets private equity player Actis, will sign contracts for a USD 350 mn, 250 MW wind farm in the Gulf of Suez within two months, Actis Partner Sherif El Kholy says, according to Al Mal. Lekela’s website says it […]
Siemens' Egypt Megaproject sets new global record for fast-track execution of power projects
Inside Egypt’s record-breaking energy megaproject. Siemens has set a new global record for the execution of fast-track power projects by connecting 4.8GW of generation capacity to the Egyptian grid. Julian Turner asks Peter Ullrich, project director of the three combined-cycle power plants at Siemens Power & Gas Division, how it was achieved. Beautiful and benighted, […]
PICO’s Cheiron Egypt acquires 100% of Engie’s West El Burullus gas concession
PICO Group subsidiary Cheiron Egypt has acquired 100% of West El Burullus (WEB) gas concession from Engie in a transaction announced yesterday. WEB is located in shallow offshore Mediterranean waters with recoverable reserves of c.200 bcf gas and 3 mn bbl of condensates. BNP Paribas, financial advisor on the transaction, said in an emailed statement […]
Egypt signs finance agreement for Sonker’s Ain Sokhna terminal
The government signed an agreement activating the financing of Sonker’s liquid bulk terminal in Ain Sokhna, Al Masry Al Youm reported. Sonker is investing USD 500 mn to construct and operate a bulk-liquids terminal for the import and storage of gasoil and LPG in the third basin of Ain Sokhna Port. USD 320 mn of […]
AMOC to buy condensates from Dana Gas
Alexandria Mineral Oils Company (AMOC) has reached an agreement to buy condensates produced by Dana Gas, according to Al Shorouk. The agreement will be signed within a week, AMOC’s head said. AMOC aims to refine 1,500 boe a day of Dana Gas’ condensates in its refineries for two months, increasing the amount to 4,000 boe […]
Iraq loads first Egypt-bound crude cargo under new deal
Iraq’s oil ministry said on Thursday it had started loading a tanker with 2 million barrels of crude oil bound for Egypt, marking the first shipment under a bilateral agreement. Under a one-year agreement reached last month between Iraq and Egypt, Iraq will sell 12 million barrels of oil to Egypt, the ministry said. (Source: […]
El Molla: Nooros gas field to produce 1.2 bcf/d before end of August
Production from Eni’s Nooros gas field will reach 1.2 bcf/d before the end of August, up from a current 920-970 mmcf/d, Oil Minister Tarek El Molla tells Youm7. According to El Molla, the company is in the final phases of drilling to expand production from the field. (Source: Enterprise.press)
Infinity Solar granted 25-year energy production license
The Egyptian Electric Utility and Consumer Protection Agency’s (Egyptera) board of directors approved granting Infinity Solar a 25-year energy production license, Al Borsa reports. The board also approved granting five unnamed solar power companies temporary one-year licenses for energy production under the feed-in tariff program. The companies will be granted permanent licenses once they secure […]
SDX Energy announces completion of drilling campaign at successful SD-1X well in South Disouq onshore Egypt
SDX Energy, the North Africa focused oil and gas company, has announced that drilling on the SD-1X well at its South Disouq concession in the Nile Delta area of Egypt has now reached its second target depth. Following the significant natural gas discovery in the upper Abu-Madi section, where the well encountered 65 ft. of […]