El Molla: New form of exploration agreement for Red Sea Bid Round
The Ministry of Petroleum has finalised the form of the new petroleum agreements, to be included in the first tender for natural gas exploration in the Red Sea. The tender is scheduled to be launched at the end of 2018. The new agreement form includes incentive clauses for the foreign investor, most notably the increase […]
Apache’s investment in Egypt exceeded $1 billion in 2018 – David Chi
David Chi, Vice-President and General Manager of Apache Egypt, said the company’s investments in the Egyptian petroleum sector exceeded USD 1 billion in 2018. In statements to MENA on Thursday on the fringe of a symposium organized by the Egyptian American Chamber of Commerce, Chi said the company is confident in the economic reforms which […]
SDX Energy ends talks with BP over the sale of Egyptian assets
SDX Energy and BP mutually agree to end discussions which could have see SDX buy a package of assets. SDX Energy, the North Africa focused oil and gas company, has announced that, further to the announcement made on 20 September 2018, discussions regarding its proposed acquisition of a significant package of assets in Egypt from […]
Egypt planning new Oil & Gas production contracts to attract investors
New, simpler terms for exploration in country’s frontier areas. Egypt seeks investment as it targets gas shipments to Europe. Egypt is working on a new model for future oil and natural gas production contracts in undeveloped areas to spur exploration and help become self-sufficient in energy, oil ministry and company officials said. The most populous […]
United Energy to raise Egypt investment, participate in upcoming Bid Rounds
Petroleum Minister Tarek Molla welcomed plans of China’s United Energy Group to invest in Egypt for the first time. The company expressed desire to take part in international tenders in Egypt in view of promising investments in oil exploration in the country. Molla made the remarks during a meeting on Wednesday with a delegation from […]
Egypt part of Dragon Oil’s $500 million regional investment budget?
Egypt in line for a chunk of Dragon Oil’s USD 500 million regional investment budget? Emirates National Oil Company (ENOC) subsidiary Dragon Oil is planning to invest about USD 500 million next year in oil and gas assets as part of an international expansion strategy to boost its production to 300k bbl/d of oil by […]
LetterOne, BASF merge oil & gas units to create Wintershall DEA
Chemicals group BASF and LetterOne signed a merger agreement to combine their respective oil and gas businesses Wintershall and DEA to create an independent European oil and gas company, the companies said Sept. 27. The new company called Wintershall DEA will be headquartered in Kassel and Hamburg and will seek to list itself through an […]
