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Tag: Egypt

Cyprus, Egypt, Greece Tripartite Summit Declaration

Posted: December 9, 2015 at 6:58 pm   /   Oil & Gas

A third Trilateral Summit between Greece, Egypt and Cyprus in Athens on Wednesday effectively solidified the foundations of the cooperation between the neighbouring countries in the years to come. “Our 3rd Trilateral Summit underlines our well-established and continuous tripartite partnership aiming at promoting peace, stability, security and prosperity in the Eastern Mediterranean in various fields […]

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Delek Group responds to press releases regarding suspension of negotiations for export of Natural Gas to Egypt

Posted: December 9, 2015 at 6:49 pm   /   Oil & Gas

Reference to Press Releases regarding the Suspension of Negotiations for Export of Natural Gas to Egypt Delek Group (“the Company”) announces that attached is an Immediate Report just published by Avner Oil Exploration Limited Partnerships and  Delek Drilling Limited Partnerships (“the Partnerships”) concerning various reports in the media with regard to freezing the talks in […]

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BP to acquire additional interest in the West Nile Delta project

Posted: December 9, 2015 at 6:34 pm   /   Oil & Gas

BP Egypt has announced the completion of its acquisition of 22.75 per cent in the North Alexandria Concession and 2.75 per cent in the West Mediterranean Deep Water Concession from Hamburg-based DEA Deutsche Erdoel AG. The acquisition will bring BP’s working interest in both concessions of the West Nile Delta project to 82.75 per cent. […]

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Farm-down completed – DEA remains strong partner in the West Nile Delta project

Posted: December 9, 2015 at 6:28 pm   /   Oil & Gas

DEA Deutsche Erdoel AG has completed the farm-down of its stake in the West Nile Delta (WND) project in Egypt. Its share in all WND fields is now equalized at 17.25%. The share reduction was part of the company’s portfolio optimization. DEA remains committed to Egypt’s energy production. The WND development of five trillion cubic […]

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EGPC signs two new Exploration Agreements in the Gulf of Suez and Western Desert

Posted: December 7, 2015 at 7:23 pm   /   Oil & Gas

Minister of Petroleum and Mineral Resources, Eng. Tarek El-Molla, signed two new agreements for oil and gas exploration in the Gulf of Suez and Western Desert. The first agreement is with Tunisia’s HBSI for the Haliph area in the Western Desert, with a minimum investment of about $9 million and a signature bonus of $1 […]

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Egypt to appeal $1.76 billion award to Israel in gas dispute, freeze gas import talks

Posted: December 7, 2015 at 6:13 pm   /   Oil & Gas

Egypt said it would appeal an order by international arbitrators to pay $1.76 billion in compensation to state-owned Israel Electric Corp for halting gas supplies three years ago, and freeze gas import talks until the dispute was resolved. Egypt had been selling natural gas to Israel under a 20-year agreement, but the deal collapsed in […]

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GlobalData: Successful Development of Zohr in Egypt to Catalyze Further East Mediterranean Projects

Posted: December 1, 2015 at 6:37 pm   /   Oil & Gas

Eni is progressing plans to bring the giant Zohr gas field online by 2018. The company’s CEO, Claudio Descalzi, has already presented multi-billion dollar development plans to the president of Egypt Abdel Fattah Al-Sisi, who has agreed to remove any political obstacles to commercializing the field. High profile political challenges have paralyzed other regional projects, […]

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Egypt inaugurates the largest wind farm in the Middle East and North Africa

Posted: November 30, 2015 at 6:05 pm   /   Renewables

By Talita Covre Yesterday Egypt’s Minister of Electricity and Renewable Energy alongside the New  & Renewable Energy Authority inaugurated the 200 MW Gulf of ElZayt Wind Farm on the west bank of the Gulf of Suez, setting a massive precedent for renewable power development in the region. The farm will generate up to 800 GWh, […]

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Drilling activities at Zohr field to re-start in January

Posted: November 30, 2015 at 3:31 pm   /   Oil & Gas

President el-Sisi met in Cairo Eni’s CEO Claudio Descalzi. Mr. Descalzi made an assessment on the work in-progress of the plan for the development of the Zohr field, where drilling activities will restart in January 2016. The President of the Republic of Egypt, Abdel Fattah el-Sisi, met in Cairo Eni’s Chief Executive Officer, Claudio Descalzi. […]

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Letter of Intent to Export Natural Gas from the Leviathan Project for Consumers in Egypt

Posted: November 28, 2015 at 4:08 pm   /   Oil & Gas

Delek Group announced that attached is an Immediate Report just published by Avner Oil Exploration Limited Partnerships and Delek Drilling Limited Partnerships (“the Partnerships”) concerning a Letter of Intent for the export of natural gas from the Leviathan Project to Egyptian consumers. Pursuant to what was stated in section 7.14.2 of the Partnerships’ Periodic Report to […]

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