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Tag: Gulf of Suez

BP seeking buyers for stake in GUPCO – sources

Posted: March 16, 2018 at 3:48 pm   /   Oil & Gas

BP is seeking buyers for its stake in a 50-year-old oil and gas business in Egypt as it focuses on newer deepwater gas fields off the country’s Mediterranean coast, banking sources said. The London-based company has in recent weeks pitched to potential buyers its stake in Gulf of Suez Oil Company (GUPCO), a joint venture […]

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SDX Energy announces oil discovery at West Gharib Concession in Egypt

Posted: March 14, 2018 at 1:44 pm   /   Oil & Gas

SDX Energy, the North Africa focused oil and gas company, has announced that an oil discovery has been made at its Rabul 5 well in the West Gharib Concession in Egypt (SDX 50% Working Interest & Joint Operator). The well was drilled to 5,280 feet total depth and encountered approx. 151 feet of net heavy […]

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Egypt signs contract for $400 mn Gulf of Suez wind farm

Posted: March 7, 2018 at 1:10 pm   /   Renewables

The project is expected to produce 250 MW of energy. The state-owned Egyptian Electricity Transmission Company on Tuesday signed an agreement with a Toyota-Engie-Orascom alliance to establish and develop a wind farm in the Gulf of Suez. The prime minister Sherif Ismail, the minister of electricity Mohammed Shaker, the minister of investment and international cooperation […]

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Egypt signs Gulf of Suez seismic survey agreement with Schlumberger

Posted: February 15, 2018 at 4:46 pm   /   Oil & Gas

Egypt has signed a deal with oilfield services company Schlumberger to conduct a seismic survey in the Gulf of Suez, the oil ministry said on Wednesday, part of efforts to encourage firms to invest in exploration work in the area. The oil ministry announced an agreement with an international company on Monday to conduct a […]

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Egypt stepping up its efforts to attract Gulf of Suez investment

Posted: February 13, 2018 at 3:55 pm   /   Oil & Gas

Egyptian oil minister Tarek El Molla on Monday announced an agreement with an international company to conduct a seismic survey of the Gulf of Suez to attract exploration investment in the area. Molla also said that Egypt was working to improve the quality of fuel products in cooperation with foreign marketing companies. “An agreement was […]

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DEA to invest $500 million in Egypt, boosting oil & gas production

Posted: February 12, 2018 at 9:42 pm   /   Oil & Gas

DEA Deutsche Erdoel AG announces a significant increase of production from its oil fields in the Gulf of Suez and from the Disouq gas fields in the Onshore Nile Delta. The next phase of the West Nile Delta (WND) development is intended to contribute to the company’s target. DEA plans to invest about 500 million […]

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ADES wins 3 jackup contract extensions in the Gulf of Suez

Posted: January 13, 2018 at 7:07 pm   /   Oil & Gas

ADES scores jack-up hat-trick in Gulf of Suez offshore Egypt. London-listed drilling contractor ADES has secured extensions for two existing contracts for jack-ups Admarine II and Admarine IV and renewed its lease for Admarine VI jack-up, all of which are in the Gulf of Suez area. The extension of the Admarine II and Admarine IV contracts […]

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DEA eyes increasing investment in Disouq, Gulf of Suez

Posted: January 10, 2018 at 5:20 pm   /   Oil & Gas

Germany’s DEA Group planned to pump more investments in Gulf of Suez and Disouq regions in Egypt, CEO of the group Maria Moraeus Hanssen said Wednesday. In a meeting with Minister of Petroleum Tarek El-Molla, Hanssen stated that Egypt is now an attractive investment destination especially after latest gas production from new fields, such as […]

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Siemens Gamesa lands 262 MW supply of wind turbines for Ras Ghareb farm

Posted: January 4, 2018 at 3:54 pm   /   Renewables

Siemens Gamesa nabs 262-MW order in Egypt Wind turbine manufacturer Siemens Gamesa Renewable Energy SA today announced a 262-MW order for the Gulf of Suez wind farm in Egypt. The order, signed in the final quarter of 2017, was secured from a consortium made up of French utility Engie, Japanese power companies Toyota Tsusho Corp […]

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Egypt to build MENA's largest wind farm in the Gulf of Suez

Posted: January 4, 2018 at 1:23 pm   /   Renewables

In an effort to boost renewable energy in Egypt and establish Egypt as a leading player in environmental development, the Ministry of Electricity and Renewable Energy initiated a 5 billion pounds project to build the largest wind farm in the Middle East, located in the Gulf of Suez, funding the project through investments of several […]

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