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Tag: Egypt
West Med

Egypt to offer 11 blocks in West Mediterranean Bid Round by Q1-2020

Posted: May 30, 2019 at 12:15 pm   /   Oil & Gas

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 […]

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TransGlobe Western Desert

TransGlobe SGZ-6X discovery due on stream in new development lease

Posted: May 30, 2019 at 12:10 pm   /   Oil & Gas

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 […]

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Siemens

Egypt mulls offers from Zarou, Edra to take over Siemens Power Plants

Posted: May 28, 2019 at 4:38 pm   /   Electricity & Power

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 […]

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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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LNG

Egypt offers 13 LNG cargoes for June-July Idku loading – sources

Posted: May 18, 2019 at 3:02 pm   /   Oil & Gas

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, […]

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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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Paul Welch

SDX Energy Chief Executive Officer Paul Welch resigns

Posted: May 17, 2019 at 3:53 pm   /   Oil & Gas

Boss of North Africa-focused junior resigns: UK junior SDX Energy is on the hunt for a new chief executive after Paul Welch quit. The London-listed player, which focuses on Egypt and Morocco, said on Friday that Welch “will be resigning as a director, and as president and chief executive officer, of the company with effect […]

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Red Sea

August cut-off point for Egypt’s Red Sea Offshore Bid Round

Posted: May 11, 2019 at 10:31 pm   /   Oil & Gas

Egypt’s Ministry of Petroleum and Mineral Resources is offering 10 exploration blocks in the Red Sea close to established hydrocarbon production. Closing date for submission of bids is Aug. 1. TGS is supporting the licensing round by making available the following data: 10,318 km (6,411 mi) of Red Sea ’18 (RS18) 2D long-offset broadband seismic, PSTM/PSDM) >16,500 […]

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Maridive

Maridive & Oil Services secures new contract in Mexico worth $27 million

Posted: May 6, 2019 at 10:34 am   /   Oil & Gas

The contract will serve to diversify the Group’s revenue streams and bolster its growing backlog. Maridive & Oil Services Co., one of the largest private offshore marine and oil support services providers in the MENA region by number of vessels, announced today that the Group’s Marine Division has secured a new contract in Mexico for […]

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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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