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Tag: El Fayum

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 […]

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SOCO International to acquire Merlon Petroleum in $215m deal

Posted: September 20, 2018 at 1:00 pm   /   Oil & Gas

London-listed junior SOCO International has signed a deal to acquired Egyptian company Merlon Petroleum El Fayum in a $215 million deal. Key Highlights: SOCO reaches agreement to acquire Merlon Petroleum El Fayum Company. Approx. US$215 million purchase price, to be paid in cash and new SOCO shares. Merlon holds a 100% operated working interest in […]

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Merlon Fayum

Merlon JV Petrosilah to invest $55 million in oil exploration in Egypt

Posted: April 26, 2018 at 4:52 pm   /   Oil & Gas

Petrosilah Petroleum Company plans to invest about $55 million in oil exploration and discovery in its concession areas in Egypt during the fiscal year 2018/2019, chairman and managing director Taher Abdel Rehem said. The firm raised its production of crude oil by 1,000 barrels during last week, bringing its daily output capacity to 7,000 barrels […]

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Yorktown to sell its Egypt oil & gas business Merlon

Posted: April 22, 2018 at 5:06 pm   /   Oil & Gas

Private equity firm hopes to raise up to $400 million. Citigroup running process, bids expected by July. Private equity firm Yorktown Partners is selling its Egyptian-focused oil and gas company Merlon International, hoping to raise up to $400 million, two banking sources told Reuters. The process is being run by Citigroup and bids are expected to be […]

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PetroSilah raises production to 12k bbl/d by end of FY 2016-17

Posted: January 8, 2017 at 11:06 am   /   Oil & Gas

Merlon International JV PetroSilah are aiming to drill six wells in 2H2016-17 to increase production to 12k bbl/d from 8.7k bbl/d from its El Fayum concession, PetroSilah Chairman Taher Abdel Rahim told Al Borsa. We had previously reported Merlon International is allocating USD 54 mn in FY2017-18 towards its El Fayum concession in the Western […]

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Merlon allocates $54 million investment in El Fayum concession in FY 2017-18

Posted: January 5, 2017 at 8:02 pm   /   Oil & Gas

Oil and Gas producer Merlon International is allocating USD 54 mn towards its development and production operations in its El Fayum concession in FY2017-18, Al Mal reported. Merlon’s JV PetroSilah will end FY2016-17 having invested around USD 64 mn, below the budgeted amount of USD 88 mn, sources at EGPC said. Currently, all of Merlon’s […]

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