Shell appoints Citi for $1 billion sale of Egypt Western Desert assets
Royal Dutch Shell has appointed investment bank Citi to run the sale of its onshore Egyptian oil and gas assets which could fetch around $1 billion, sources close to the process said. The sale process is expected to be officially launched at the end of November, the sources said. Shell said last month it plans […]
Eni CEO doesn’t rule out interest in Dana Gas Egypt assets, but not a priority
Eni’s chief executive does not rule out a possible interest for the Egyptian assets of Dana Gas but says any potential bid is unlikely since the Italian major already has a lot of resources in the area. Earlier this year United Arab Emirates’ Dana Gas hired an adviser for the possible sale of its assets […]
Eni is not interested in acquiring Dana Gas Egypt portfolio of assets
Italy’s Eni is not looking to acquire the Dana Gas’ portfolio of assets in Egypt, Eni CEO Claudio Descalzi tells Bloomberg TV. Descalzi stressed that Eni is satisfied with its portfolio for the time being and plans to focus on developing current assets before biting off more. Dana Gas had received offers for buying its […]
Energean announces successful appraisal of Karish North discovery
Energean Oil and Gas plc, the oil and gas producer focused on the Mediterranean, is pleased to announce the successful appraisal of the Karish North Discovery, confirming best estimate recoverable resources of 0.9 Tcf (25 BCM) plus 34 million barrels of light oil / condensate2 (combined c.190 mmboe) significantly enhancing Energean’s discovered resource volumes across […]
Eni acquires 70% of Edison’s stake in NE Ha’py offshore gas concession
Eni has acquired 70% of Edison’s stake in Block 12 of its Northeast Ha’py natural gas concession in the Mediterranean, an unnamed EGAS source said on Thursday, according to Reuters. The source did not disclose further details on the sale of the block, which Edison won in a 2015 bid round. The acquisition comes as […]
Eni announces a new oil discovery in the Gulf of Suez offshore Egypt
New resources discovered in the Gulf of Suez offshore Egypt: New resources discovered in the Abu Rudeis Sidri development lease, in the Gulf of Suez, where an appraisal well of the discovery of Sidri South, announced last July, was drilled. A rapid development plan for the new discovery with a “fast-track” approach, leveraging on existing […]
Onshore Egypt still attractive even as Shell sells assets – Upstream Opinion
OPINION: Shell’s decision to exit onshore assets in Egypt highlights a trend by major producers to abandon ageing fields that need intensive efforts to keep them producing without the expected reward. By contrast, heavyweight international oil companies are turning their focus offshore in the Mediterranean Sea, which offers significant exploration upside. The departure of major […]
Dragon Oil completes acquisition of BP’s share in Egypt’s GUPCO JV
Dragon Oil’s Acquisition of BP’s stake in Gulf of Suez, Egypt – Major investments and new concepts. As a part of its ongoing drive to be among regionally and globally ranked Oil and Gas companies, Dragon Oil Ltd. – the fully owned exploration and production platform of Emirates National Oil Company «ENOC» has acquired BP’s […]
EGAS upcoming Bid Round will include 11 Blocks in Egypt’s West Mediterranean
The EGAS upcoming Bid Round will include 11 Blocks in Egypt’s Western Mediterranean. Dr. Samir Rasslan, EGAS vice Chairman for Agreements & Explorations announced on the last day of MOC, that the Egyptian Natural Gas Holding Company (EGAS) will invite Petroleum Exploration Companies for 2020 International Bid Round to explore/exploit for Gas and Crude Oil […]
Shell Egypt to sell its onshore Western Desert upstream assets
SHELL EGYPT TO MARKET ITS CURRENT ONSHORE UPSTREAM ASSETS IN THE WESTERN DESERT TO FOCUS ON OFFSHORE GAS GROWTH Shell Egypt is to market its current onshore upstream assets in the Western Desert in order to fully concentrate on growing its Egyptian offshore exploration and integrated gas business. Wael Sawan, Shell Upstream Director, said: “Shell […]
