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Tag: Gulf of Suez

Aminex converts interests in Egypt from Production Sharing to Royalty Structure

Posted: August 25, 2015 at 8:03 pm   /   Oil & Gas

Aminex announced a reorganisation and continuation of its Egyptian interests through a conversion of its carried interest to first production into an overriding royalty position in a recent discovery well. Aminex is currently a 12.5% shareholder in Aminex Petroleum Egypt Ltd. (“APEL”) and, through this shareholding, has an indirect 10% carried interest in the West […]

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Rockhopper Exploration acquires Beach Petroleum Egypt in $22 million deal

Posted: August 10, 2015 at 10:01 pm   /   Oil & Gas

Rockhopper Exploration plc, the oil and gas exploration and production company with interests in the North Falkland Basin and the Greater Mediterranean and North Africa region, announced the acquisition of a portfolio of non-operated production and exploration interests in Egypt from Beach Energy Limited for a headline consideration of US$22.0 million. Highlights: Rockhopper to acquire […]

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Hibiscus Petroleum announces details of East Ras el Ush Concession Award

Posted: August 5, 2015 at 9:58 pm   /   Oil & Gas

Introduction: Hibiscus Petroleum Berhad is pleased to announce that its wholly-owned subsidiary, Gulf Hibiscus Limited (“Gulf Hibiscus”), has been awarded the South East Ras El Ush concession (“Block 2”) in Egypt by the Ganoub El-Wadi Petroleum Holding Company (“Ganope”), an entity of the Ministry of Petroleum, Arab Republic of Egypt (“Award of the Concession”). The […]

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Results of Ganope Bid Round announced, awards five concessions worth $100 million

Posted: August 3, 2015 at 9:37 pm   /   Oil & Gas

Egypt has awarded five oil and gas concessions that are expected to bring in minimum total investments of about $100 million with bonuses of $3.7 million to drill 16 exploration wells for oil and gas, having received seven offers for 5 blocks, the oil ministry said in a statement on Monday, as the country seeks […]

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Egypt signs exploration deal with Italy's Eni worth $2 billion

Posted: June 2, 2015 at 2:14 pm   /   Oil & Gas

Egypt’s Petroleum Ministry said on Monday it had signed an energy exploration deal with Italy’s Eni worth $2 billion following an MOU signed in March during the Egyptian Economic Development Conference (EEDC). The deal paves the way for the modification of some previous deals between the ministry and Eni that include gas price adjustments, the […]

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Eni signs a $5 billion framework agreement for the development of Egypt's oil and gas resources

Posted: March 17, 2015 at 8:36 pm   /   Oil & Gas

The Egyptian Minister of Petroleum and Mineral Resources, Sherif Ismail, signed with Eni’s CEO, Claudio Descalzi, a Head of Agreement aimed at the development of the oil and gas resources of the Country while preserving the return of Eni’s investments. The Head of Agreement envisages investments of an estimate 5 billion dollars of total value […]

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