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Tag: Exploration & Production
WintershallDEA

Wintershall Dea committed to Egypt, investment led to production boost

Posted: July 23, 2019 at 1:08 pm   /   Oil & Gas

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 […]

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United

United Oil & Gas announces acquisition of Rockhopper Egypt for $16 million

Posted: July 23, 2019 at 12:53 pm   /   Oil & Gas

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 […]

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Wintershall Dea

Wintershall Dea plans to invest $800 million in Egypt during 2019, 2020

Posted: July 22, 2019 at 7:00 pm   /   Oil & Gas

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 […]

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Red Sea

Egypt extends deadline for Red Sea Offshore Bid Round to September

Posted: July 22, 2019 at 3:07 pm   /   Oil & Gas

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 […]

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Winteshall Dea

Wintershall Dea discusses future cooperation in E&P activities with Egypt

Posted: July 10, 2019 at 1:04 pm   /   Oil & Gas

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 […]

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Energean

Energean announces the acquisition of Edison E&P for up to $850 million

Posted: July 4, 2019 at 12:24 pm   /   Oil & Gas

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 […]

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Edison

Energean submits final offer for Edison’s Oil & Gas assets

Posted: June 16, 2019 at 1:30 pm   /   Oil & Gas

Greece’s Energean Bids for EDF Oil & Gas Assets. EDF has been seeking a sale to focus on nuclear projects. Some other potential suitors have dropped out of bidding. Energean Oil & Gas Plc, the Greek energy producer that sold shares in London last year, is bidding for the oil and gas business of Electricite […]

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Wintershall Dea

Wintershall Dea seeks European IPO in second half of 2020

Posted: June 12, 2019 at 1:09 pm   /   Oil & Gas

Newly created oil and gas group Wintershall DEA plans to hold an initial public offering in the second half of the next year, its chief executive told Reuters, in a deal that could become one of the largest European listings in 2020. Sources said in April that Wintershall DEA had picked the banks to arrange […]

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Dragon Oil CEO

Dragon Oil CEO Ali Al Jarwan comments on GUPCO acquisition from BP in Egypt

Posted: June 4, 2019 at 5:27 pm   /   Oil & Gas

In an interview with Oil & Gas Middle East, Dragon Oil CEO Ali Al Jarwan revealed the company’s progress on its $13bn expansion plans. Dragon Oil, the exploration and production arm of Emirates National Oil Company (ENOC), is in the process of finalising an acquisition in Egypt which will add 70,000 barrels per day of […]

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BP

BP nears sale of its stake in GUPCO to Dragon Oil for over $600 million

Posted: May 25, 2019 at 9:34 pm   /   Oil & Gas

BP is nearing the sale of its stake in a major Egyptian oil and gas company to Dubai-based Dragon Oil for over $600 million, industry and banking sources said. The sale, which is expected to complete in the coming weeks, would mark the end of BP’s 50-year-old partnership in the Gulf of Suez Petroleum Company […]

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