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Tag: Gulf of Suez
Dragon Oil GUPCO

Dragon Oil completes acquisition of BP’s Gulf of Suez assets (GUPCO)

Posted: January 14, 2020 at 3:29 pm   /   Oil & Gas

Emirates National Oil Company (ENOC) subsidiary Dragon Oil has wrapped up its acquisition of BP’s Gulf of Suez assets for USD 500 million, the Oil Ministry said in a statement. A conflicting report by Al Arabiya puts the transaction value at USD 850 million, although the source of the figure remains unclear. BP and Dragon […]

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Eni Egypt

Eni highlights 2019 exploration track record with six offshore discoveries

Posted: October 29, 2019 at 12:37 am   /   Oil & Gas

Eni delivered six offshore discoveries as operator during the first nine months of the year. According to the company’s latest results statement, three of the finds were in block 15/06 off Angola, bringing the number of new fields proven since exploration resumed on the block last year to five. Eni estimates the cumulative resources at […]

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Eni

Eni announces a new oil discovery in the Gulf of Suez offshore Egypt

Posted: October 25, 2019 at 11:50 pm   /   Oil & Gas

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 […]

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shell ceo

Onshore Egypt still attractive even as Shell sells assets – Upstream Opinion

Posted: October 25, 2019 at 1:33 pm   /   Oil & Gas

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 […]

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Dragon Oil

Dragon Oil completes acquisition of BP’s share in Egypt’s GUPCO JV

Posted: October 21, 2019 at 6:07 pm   /   Oil & Gas

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 […]

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Lekela

Construction officially starts at Lekela’s 250 MW West Bakr wind farm

Posted: October 16, 2019 at 3:33 pm   /   Renewables

Siemens Gamesa starts work on Lekela’s 250 MW West Bakr wind plant: Siemens Gamesa has begun building a 250 MW wind plant in West Bakr in the Gulf of Suez, which is expected to increase Egypt’s wind energy capacity by 18% once completed in 2021, operator Lekela Egypt said in a statement. The company will […]

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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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