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Tag: Gulf of Suez
Gupco

GUPCO plans to inject $1.2 billion investments in next two years

Posted: August 27, 2019 at 6:50 pm   /   Oil & Gas

Gulf of Suez Petroleum Company (GUPCO) plans to bring total investments in the fiscal years (FY) 2019/20 and 2020/21 up to $1.2bn to expand research, exploration, and development activities. The company aims to drill 13 new wells and carry out 12 repair operations, which will contribute to increasing production to targeted rates. Geologist Khaled Hamdan, […]

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EGPC

EGPC to launch new oil and gas exploration bid round by end of year

Posted: August 22, 2019 at 11:53 am   /   Oil & Gas

The Egyptian General Petroleum Corporation (EGPC) aims to launch an oil and gas exploration tender by the end of this year, to increase the exploration operations in the different concession areas, and boost rates of production, A source in the petroleum sector told Daily News Egypt that EGPC is currently planning the areas to be […]

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EBRD wind

EBRD provides $252 million loan for 250 MW wind farm in Gulf of Suez

Posted: August 14, 2019 at 1:04 pm   /   Renewables

EBRD, IFC and OPIC providing US$ 252 million loan to a project company owned by Lekela Power BV Funds will finance 250MW wind farm in the Gulf of Suez Clean energy expected to reduce CO2 emissions by 550,000 tons per year The European Bank for Reconstruction and Development (EBRD) is stepping up its support for […]

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Carbon Holdings

Contractors to start work on Carbon Holdings’ Tahrir Petrochemicals Complex

Posted: July 27, 2019 at 8:11 pm   /   Oil & Gas

Contractors to start work on Egypt’s biggest ever petrochemicals plant. Tahrir Petrochemicals Complex – work expected to start on $10.9 billion project. The main contractors are expected to start work on Egypt’s biggest ever petrochemicals project this year, according to James Bishop, managing director of finance at the project’s developer Carbon Holdings. Tahrir Petrochemical Complex […]

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Eni

Eni starts production from Western Desert, announces new discoveries onshore Egypt

Posted: July 23, 2019 at 11:05 pm   /   Oil & Gas

Eni starts output onshore Egypt: Italian player kicks off production from the Western Desert. Italian player Eni has started production from its fields in the Western Desert, onshore Egypt. The company said on Tuesday that production from South West Meleiha development lease kicked off with some 5000 barrels of oil. Eni announces new production from […]

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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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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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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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Gupco BP

BP divests its Gulf of Suez mature oil concessions in Egypt to Dragon Oil

Posted: June 3, 2019 at 5:47 pm   /   Oil & Gas

BP to divest mature oil assets in Egypt to Dragon Oil. BP has agreed to sell its interests in Gulf of Suez oil concessions in Egypt to Dragon Oil, the Dubai-based oil and gas company.  Under the terms of the agreement, Dragon Oil will purchase producing and exploration concessions, including BP’s interest in the Gulf […]

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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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