NS Energy: Will the LNG market in Egypt realise its potential in 2019?
After recently becoming a net exporter of LNG, Egypt is looking to take its natural gas market to new heights following a series of key discoveries. The LNG market in Egypt has been mired in uncertainty for much of this millennium but over the course of 2019, it has gradually started gaining traction. A plethora […]
ExxonMobil considers logistics support center in Damietta Port
ExxonMobil Probes Potentials for Oil & Gas Services in Damietta Port. Damietta Port Authority (DPA) Chairman, Cpt. Tarek Shahin met with ExxonMobil delegation to discuss their interest in exploring the possibility to establish a logistic support center in Damietta Port for servicing oil and gas fields. Both sides looked over port capabilities particularly its unique […]
Eni World Oil Review: Global oil reserves increased 0.4% in 2018
Eni SPA has released the 18th edition of its World Oil Review, which is the first volume of the report, World Oil, Gas & Renewables Review. The WOR is devoted to oil reserves, supply, demand, trade, and prices with a special focus on crude oil quality and the refining industry. The second volume, the World […]
UAE’s Dana Gas abandons Merak well, hires adviser to sell Egypt assets
United Arab Emirates’ Dana Gas has hired investment bank Tudor, Pickering, Holt & Co. (TPH) to advise it on the sale of its Egyptian assets, worth over $500 million, two sources familiar with the matter said, as the company shifts its focus to its Kurdistan operations. The Abu Dhabi-listed energy producer – whose main assets […]
Wintershall Dea committed to Egypt, investment led to production boost
Recent merger of Wintershall and DEA formed Europe’s leading independent gas and oil company. Investments in the company’s Egyptian oil and gas business lead to production boost. In early 2018, Wintershall Dea announced the start of an extensive work program in all own-operated Egyptian assets. The company is currently investing more than 500 Million US-Dollars […]
United Oil & Gas announces acquisition of Rockhopper Egypt for $16 million
Rockhopper exits Egypt: Interest in Abu Sennan concession sold to United Oil & Gas in $16 million deal. Rockhopper Exploration has struck a deal to sell off its interest in the Abu Sennan concession in Egypt to fellow London-listed company Untied Oil & Gas. Headlines Conditional acquisition by United of Rockhopper Egypt for US$ 16 […]
Wintershall Dea plans to invest $800 million in Egypt during 2019, 2020
Germany’s Wintershall Dea aims to invest $800 million in Egypt until 2020, the North African nation’s minister of petroleum and mineral resources Tarek El-Molla said. This move reflects the most populous Arab nation’s improved investment climate on the back of economic reforms, El-Molla added in in a statement on Monday. Moreover, Egypt’s arrears to foreign […]
Egypt extends deadline for Red Sea Offshore Bid Round to September
The South Valley Egyptian Petroleum Holding Company (Ganope) announced the extension of the closing date of its Offshore Red Sea Oil & Gas Exploration Bid Round till mid-September. The Offshore Red Sea Bid Round (O.R.S.B.R 2019) includes ten (10) Exploration Blocks in the Economic Water of the Red Sea as shown in the map. The […]
Wintershall Dea discusses future cooperation in E&P activities with Egypt
Egypt talks investment options with Germany’s Wintershall Dea: The Oil Ministry met with a delegation from Germany’s Wintershall Dea yesterday to explore investment options, according to a ministry statement. The two sides also discussed an agreement they signed in March for DEA to extend its ownership of the Ras Budran and Zeit Bay oil fields […]
Energean announces the acquisition of Edison E&P for up to $850 million
Acquisition of Edison E&P and $265 MM Equity Placing.Proposed Acquisition of Edison E&P and Placing of New Ordinary Shares to raise up to US$265 million. Highlights Acquisition of Edison E&P for US$750 million initial consideration and US$100 million contingent consideration Creates one of the largest independent E&P companies on the London and the Tel Aviv Stock […]
