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Tag: GUPCO
Dragon Oil CEO

Dragon Oil CEO Ali Al Jarwan comments on GUPCO acquisition from BP in Egypt

Posted: June 4, 2019 at 5:27 pm   /   Oil & Gas

In an interview with Oil & Gas Middle East, Dragon Oil CEO Ali Al Jarwan revealed the company’s progress on its $13bn expansion plans. Dragon Oil, the exploration and production arm of Emirates National Oil Company (ENOC), is in the process of finalising an acquisition in Egypt which will add 70,000 barrels per day of […]

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Gupco BP

BP divests its Gulf of Suez mature oil concessions in Egypt to Dragon Oil

Posted: June 3, 2019 at 5:47 pm   /   Oil & Gas

BP to divest mature oil assets in Egypt to Dragon Oil. BP has agreed to sell its interests in Gulf of Suez oil concessions in Egypt to Dragon Oil, the Dubai-based oil and gas company.  Under the terms of the agreement, Dragon Oil will purchase producing and exploration concessions, including BP’s interest in the Gulf […]

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BP

BP nears sale of its stake in GUPCO to Dragon Oil for over $600 million

Posted: May 25, 2019 at 9:34 pm   /   Oil & Gas

BP is nearing the sale of its stake in a major Egyptian oil and gas company to Dubai-based Dragon Oil for over $600 million, industry and banking sources said. The sale, which is expected to complete in the coming weeks, would mark the end of BP’s 50-year-old partnership in the Gulf of Suez Petroleum Company […]

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BP

ENOC’s Dragon Oil to acquire BP’s mature assets in Egypt?

Posted: April 17, 2019 at 8:36 am   /   Oil & Gas

Emirates National Oil Company (ENOC) subsidiary Dragon Oil is set to acquire unspecified assets in Egypt within the next three to four months, Dragon Oil CEO Ali Al Jarwan told Oil & Gas Middle East. According to Al Jarwan, the asset should add 70k bpd to the company’s production. While Al Jarawan did not disclose […]

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BP

BP to drill its first Gulf of Suez exploration well by October

Posted: August 4, 2018 at 3:37 pm   /   Oil & Gas

Britain’s BP will begin drilling its first exploration wells in the Northeast Ramadan concession area in the Gulf of Suez by early October at the latest, an Egyptian state oil company EGPC official said. The source told Youm7 that the project is awaiting completion of security approvals and the licenses necessary to start drilling. Drilling […]

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BP to sell mature oil field assets in Egypt, shifts focus to gas

Posted: March 18, 2018 at 1:06 pm   /   Oil & Gas

U.K. company has begun process to sell mature fields in Egypt. A sale could be sensitive because the assets employ thousands. BP Plc has begun a process to sell mature oil fields in Egypt as it shifts investment in the country to natural gas, according to people with knowledge of the matter. The so-called Gulf […]

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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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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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BP’s JVs PhPC, GUPCO boost Egypt’s petroleum reserves

Posted: August 21, 2017 at 12:31 pm   /   Oil & Gas

Pharaonic Petroleum Company (PhPC) has finished works of third phase of developing East Nile Delta offshore fields, company Head Hassan Abady said on Sunday. In a meeting with the Minister of Petroleum Tarek al-Molla to review financial results, Abady said that his company finished drilling two wells; Habi-16 and Taurt-8, adding that they both were […]

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Minister of Petroleum visits BP's North Alexandria Gas Projects and reviews progress

Posted: March 14, 2017 at 5:01 pm   /   Oil & Gas

Egyptian Minister of Petroleum, Eng. Tarek El Molla, visited North Alexandria to follow up on project developments in gas fields located in the Mediterranean’s deep water. Bernard Looney Chief Executive of BP for Exploration and Production, and BP North Africa Regional President Eng. Hesham Mekawi accompanied El Molla during his visit to the project’s site. […]

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