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Tag: Gulf of Suez
South Ramadan

SDX Energy assessing next move in Egypt's South Ramadan offshore block

Posted: May 23, 2017 at 5:04 pm   /   Oil & Gas

SDX Energy has completed a review of the prospectivity in the South Ramadan development concession in the Gulf of Suez, offshore Egypt. The company has begun evaluating the project economics, and has asked the government for an extension in order to fulfill its drilling commitment. Any drilling would occur most likely in 2018. In March […]

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EBRD finances $11 million environmental upgrade of Egypt’s Carbon Holdings

Posted: May 14, 2017 at 7:47 pm   /   Oil & Gas

New investments will help local petrochemicals producer reduce N2O emissions. As part of its drive to help the Egyptian economy move to more environmentally friendly ways of production, the EBRD is providing local petrochemicals producer Carbon Holdings with a US$ 11 million loan. The funds will be used to improve standards beyond the current industry […]

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Minister of Petroleum meets with Chief Executive Officer of German DEA

Posted: May 14, 2017 at 7:34 pm   /   Oil & Gas

Eng. Tarek El Molla, Minister of Petroleum and Mineral Resources met with Thomas Rappuhn, Chief Executive Officer of German DEA Deutsche Erdoel AG. El Molla discussed the mechanisms of future cooperation between the Egyptian Petroleum Sector and DEA , and the possibility of establishing cooperation between both sides over the coming period in the projects […]

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wind farm construction

Lekela Power nears contract finalization for $350m wind farm investment

Posted: May 10, 2017 at 2:28 pm   /   Renewables

Lekela Power, the pan-African renewable operator that is reportedly 60% owned by funds controlled by emerging markets private equity player Actis, will sign contracts for a USD 350 mn, 250 MW wind farm in the Gulf of Suez within two months, Actis Partner Sherif El Kholy says, according to Al Mal. Lekela’s website says it […]

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PetroZenima to link Gulf of Suez wells in to production platforms

Posted: March 28, 2017 at 1:49 pm   /   Oil & Gas

PetroZenima is currently connecting drilled wells in its Gulf of Suez concession to production platforms, a source told Egypt Oil & Gas. There are eight wells drilled in the concession, two of which are already connected and producing a total of 1,300 bpd. Two more wells are being connected to production platforms with the remaining […]

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Eni focused on African opportunities

Posted: March 21, 2017 at 3:27 pm   /   Oil & Gas

One company pushing ahead with operations around Africa is Eni, which continues to make discoveries and sell down finds, writes Nicholas Newman. African exploration prospects have taken a hit over the last two years but, as Eni’s successes demonstrate, there is plenty of potential still worth securing. The Italian company has almost 4,900 oil and […]

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Players’ healthy interest outside Egypt’s Nile Delta

Posted: February 11, 2017 at 2:44 pm   /   Oil & Gas

Future upstream licensing in Egypt’s Nile Delta offshore province may be facing a hiatus, but the most recent round to have been completed by state-owned Egyptian General Petroleum Corporation signalled healthy interest by players in other acreages. Smaller, cash-strapped players were not much in evidence during the 2016 round, covering acreage in the Gulf of […]

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SDX Energy prices Circle Oil’s assets in Egypt, Morocco at $30 million in cash

Posted: January 29, 2017 at 1:22 pm   /   Oil & Gas

SDX Energy said it is proposing to acquire the oil and gas assets of Circle Oil in Egypt and Morocco for a total cash consideration of USD 30 million, Reuters reported. SDX had announced entering into a non-binding heads of terms with Circle Oil for the acquisition in mid-January. In Egypt, SDX will acquire a […]

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BP expects gas production in Egypt to begin in 2 years

Posted: January 28, 2017 at 12:43 pm   /   Oil & Gas

Investments in Egypt make up 20% of BP’s total investments worldwide. British Petroleum (BP) is expected to start gas production in Egypt sometime in 2017 and 2018, which will boost production and provide the domestic market with its needs, said the company’s CEO on Wednesday. In a meeting with Egyptian petroleum minister Tarek El-Molla, BP’s […]

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Petrobel to invest $630 million in FY 2017-18

Posted: January 17, 2017 at 7:59 pm   /   Oil & Gas

Minster of Petroleum Eng. Tarek El Molla, chaired the General Assembly for Belayim Petroleum Company (Petrobel) to review the companies’ budgets for fiscal year 2017/2018. The general assemblies were held in the attendance of First Undersecretaries of the Ministry of Petroleum, CEOs of the Egyptian Natural Gas Holding Company (EGAS), and Executive President of the […]

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