Newsletter subscribe
Tag: Exploration & Production

Shell subsidiary BG Egypt acquires 100% stake in ExxonMobil’s North East El Amriya offshore block

Posted: May 18, 2022 at 7:42 pm   /   Oil & Gas

SHELL STRENGTHENS ITS OFFSHORE POSITION IN EGYPT’S NILE DELTA – ACQUIRES OFFSHORE BLOCK 3 BG International Limited., a subsidiary of Shell plc., signed a Farm Out Agreement (FOA) with ExxonMobil Egypt (Upstream) Limited to acquire a 100% stake in the ExxonMobil-operated North East El-Amriya Offshore Area, Mediterranean Sea – also known as Block 3. On […]

No Comments read more

Wintershall Dea CEO Mehren: “The War Marks a Fundamental Turning Point”

Posted: April 28, 2022 at 2:21 pm   /   Oil & Gas

SPECIAL MEDIA CALL AND Q1 2022 RESULTS: In a special media call, Wintershall Dea CEO Mario Mehren has described the Russian war of aggression against Ukraine as “a fundamental turning point for Wintershall Dea.” Days into the war, Wintershall Dea announced the impairment of Nord Stream 2 financing, stopped payments into Russia and said a […]

No Comments read more
ipr

IPR Completes Transaction with Pharos for Western Desert Assets Acquisition

Posted: March 28, 2022 at 12:44 pm   /   Oil & Gas

Texas-based IPR Energy Group (“IPR”) announced the completion of its acquisition of Operatorship and majority Working Interest of 55% of Pharos Energy plc (“Pharos”) in the El Fayum and North Beni Suef Concessions in the Western Desert, as part of its aggressive expansion strategy in Egypt. This latest acquisition, spanning 6,624 km2 in the Western […]

No Comments read more
pharos

Pharos Energy announces preliminary results for year ended 31 December 2021

Posted: March 20, 2022 at 12:24 pm   /   Oil & Gas

Pharos Energy, an independent oil and gas exploration and production company, has announced its preliminary results for the year ended 31 December 2021. A conference call will take place at 0900 GMT today. Jann Brown, Managing Director and Chief Executive Officer Designate, commented: ‘It is truly an exciting time to take over the reins at […]

No Comments read more
Wintershall Dea

Wintershall Dea divests its interest in the Gulf of Suez concession

Posted: February 3, 2022 at 3:40 pm   /   Oil & Gas

Transfer of interest to the Egyptian General Petroleum Corporation after 38 years of efficient production. Proud history in Egypt will continue. Stronger focus on production of natural gas. As of 1st January 2022, after 38 years of economic and efficient production from the Gulf of Suez, Wintershall Dea is closing this chapter of its long […]

No Comments read more
Egypt-South-Disouq

SDX announces proposed disposal of 33% of South Disouq for $5 million

Posted: February 2, 2022 at 12:57 pm   /   Oil & Gas

AIM-listed SDX Energy, the MENA-focused oil and gas company, has announced the proposed disposal of 33% of the shares in the entity that holds its interests across its South Disouq concession and its intention to initiate a share buyback program of up to US$3.0 million in H2 2022. All monetary values are expressed in United States dollars net to the Company […]

No Comments read more
Tarek El Molla

New oil and gas exploration bid round coming in 1H2022 – El Molla

Posted: January 26, 2022 at 2:12 pm   /   Oil & Gas

New oil and gas exploration rights will be up for grabs in 1H2022. The government plans to launch a new global tender for oil and gas exploration before June, Bloomberg Asharq reported Oil Minister Tarek El Molla as saying during a press conference yesterday. No further details were disclosed on the upcoming tender. The Oil Ministry kicked off […]

No Comments read more

Wintershall Dea COO Dawn Summers meets with Egypt’s Petroleum Minister Tarek El Molla

Posted: November 18, 2021 at 12:15 pm   /   Oil & Gas

Wintershall Dea Chief Operating Officer Dawn Summers and Senior Vice President & Managing Director, BU Egypt, Sameh Sabry, met with His Excellency, Engineer Tarek El Molla, Egyptian Minister of Petroleum, at ADIPEC 2021. They discussed Wintershall Dea’s long-standing commitment as a reliable partner and investor in Egypt, as well as the bright outlook for Egypt […]

No Comments read more
cairn-capricon

Cairn Energy to change its name to Capricorn Energy

Posted: November 16, 2021 at 3:42 pm   /   Oil & Gas

Cairn is planning to change its company name from Cairn Energy plc to Capricorn Energy plc from December 13, the business has announced in a statement posted on its website. The development follows an agreement at the time of the Cairn India IPO that the name would ultimately be changed, Cairn noted. No action from […]

No Comments read more
Fayum

Pharos Energy receives Egypt’s Cabinet approval of El Fayum Amendment

Posted: November 1, 2021 at 8:29 pm   /   Oil & Gas

Pharos Energy has received Egyptian Cabinet approval of the Third Amendment of its El Fayum Concession Agreement. The approved terms, already announced on 30 March 2021, include both an increase of the cost recovery petroleum percentage and an extension of the exploration term of three and a half years. Ed Story, President and Chief Executive Officer, commented: ‘We […]

No Comments read more