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Tag: Gulf of Suez

Egypt accepts six oil and gas exploration bids with investments of $200 million

Posted: December 3, 2016 at 12:31 pm   /   Oil & Gas

Egypt has accepted six bids for oil and gas exploration worth a total investment of up to $200 million, the Ministry of Petroleum said on Friday. In May, the Egyptian General Petroleum Corporation (EGPC) announced an international tender for 11 oil and natural gas blocks in the Western Desert and Gulf of Suez as Egypt […]

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EGPC grants SDX Energy, PICO preliminary approval to extend drilling in South Ramadan concession

Posted: November 1, 2016 at 1:37 pm   /   Oil & Gas

EGPC gave SDX Energy and PICO Petroleum preliminary approvals to extend drilling operations at the South Ramadan concession, SDX Energy’s country director Ahmed Moaz told Al Mal. The preliminary agreement does not specify a date for the extension and includes the operators spending USD 23 mn in the project. Moaz says the operators have not […]

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Shell, BP bidding for three E&P blocks in Western Desert and Gulf of Suez

Posted: October 4, 2016 at 3:26 pm   /   Oil & Gas

Royal Dutch Shell and BP are reportedly competing for E&P licenses in three blocks in the Western Desert and the Gulf of Suez as part of a tender by the EGPC, an unnamed source told Al Mal. Shell has reportedly already sent offers for two blocks in the Western Desert, while BP is bidding for […]

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Paul Welch

SDX CEO: Egypt's Oil & Gas Sector set to grow in next 5 years

Posted: August 25, 2016 at 4:25 pm   /   Oil & Gas

The Egyptian oil and gas sector is set to grow over the next five years, exploration and production company SDX Energy Inc.’s president and CEO Paul Welch said. “It will grow. Businesses will grow, employment will grow,” Welch told Rigzone. Supporting his prediction, Welch stated that ENI S.p.A’s giant Zohr discovery in Egypt still needs […]

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Rockhopper completes acquisition of Beach's production and exploration assets in Egypt

Posted: August 16, 2016 at 9:13 pm   /   Oil & Gas

AIM-listed Rockhopper Exploration has completed the acquisition of Beach Petroleum (Egypt) announced on 18 April 2016. Beach Egypt holds a 22% interest in the Abu Sennan concession and a 25% interest in the El Qa’a Plain concession. Highlights • Cash consideration for the Acquisition of US$11.9 million based on a cash effective date of 1 […]

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Egyptian Government approves five oil & gas exploration agreements

Posted: August 11, 2016 at 4:02 am   /   Oil & Gas

Egypt’s government has approved five oil and gas drilling and exploration agreements with foreign companies, Petroleum Minister Tarek El Molla said on Wednesday. Once an energy exporter, Egypt has turned into a net importer because of declining oil and gas production and increasing consumption. It is trying to speed up production at recent discoveries to […]

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Four companies expressed interest in exploration blocks tendered by EGPC

Posted: August 3, 2016 at 12:33 pm   /   Oil & Gas

Four companies have expressed interest in the 11 E&P projects in the Gulf of Suez and the Western Desert tendered by EGPC earlier this year, including US firms Apache Crop, Eos Petro, Greece’s Aegean Oil, and a Chilean company, sources at EGPC told Al Mal. The authority has not received bids from any of the […]

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Ganope launches International Bid Round for oil and gas exploration in Western Desert and Gulf of Suez

Posted: August 1, 2016 at 1:57 pm   /   Oil & Gas

Egypt’s state-owned Ganoub El-Wadi Petroleum Holding Company (Ganope) issued a new international tender for oil and gas drilling and exploration in 10 sectors in the southern areas of the Western Desert and Gulf of Suez. Egyptian oil minister Tarek El-Molla stated Sunday that the bid includes five areas notably in West Gabal El Zeit, South […]

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SDX Energy announces closing of second tranche of private placement

Posted: July 25, 2016 at 12:58 pm   /   Oil & Gas

SDX Energy Inc., an oil and gas exploration and production company with assets in Egypt, has announced that, further to its news release dated May 20, 2016, it has completed the second tranche of the private placement. The second tranche consists of 3,910,000 common shares (the ‘Placement Shares’) that had been placed with an investor […]

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Five IOCs interested in acquiring Circle Oil's investments in Egypt

Posted: July 24, 2016 at 1:56 pm   /   Oil & Gas

Companies including BP, Kuwait Energy, and Rockhopper are vying to acquire Circle Oil’s NW Gemsa stake. Circle Oil is looking to sell its 40% stake of Petro Amir’s concession in the Gulf of Suez, Al Mal reported. A source told Al Mal Circle Oil is owed USD 10-12 mn from EGPC, which it recently called […]

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