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Tag: IEOC

Eni sells 10% stake in Zohr to UAE's Mubadala for $934 million

Posted: March 12, 2018 at 10:57 am   /   Oil & Gas

Eni sells 10 percent of Egypt’s Shorouk concession to Mubadala Petroleum. Italian oil company Eni said on Sunday it would sell a 10 percent stake in the Shorouk concession in Egypt’s Zohr gas field to Mubadala Petroleum of the United Arab Emirates for $934 million. Eni currently holds through its subsidiary IEOC a 60 percent stake […]

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Egypt to accelerate Zohr gas field development, to be completed one year ahead of schedule

Posted: February 4, 2018 at 5:04 pm   /   Oil & Gas

Egypt to complete development on Zohr one year ahead of schedule: Egypt will complete the development of the Zohr gasfield at the beginning of 2019, instead of the end of the year, Oil Minister Tarek El Molla said on Thursday, according to Reuters. Egypt had been speeding up the development of the giant gasfield, with […]

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Egypt's President Sisi inaugurates giant Zohr gas field

Posted: February 1, 2018 at 3:57 pm   /   Oil & Gas

Egypt’s President Abdel-Fattah El-Sisi inaugurated on Wednesday the first stage of production at the super-giant Zohr gas field, which the country predicts will help achieve its goal of self-sufficiency in the supply of liquefied natural gas (LNG). El-Sisi praised the collaborative effort between several Egyptian companies, including Belayim Petroleum Company (Petrobel), a joint venture between […]

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Eni's sale of 30% stake in Egypt's offshore Shorouk concession to Rosneft confirms validity of "dual exploration" strategy

Posted: October 10, 2017 at 2:41 pm   /   Oil & Gas

Eni completes sale of a 30% stake in the Shorouk concession, offshore Egypt, to Rosneft. Following the finalization, Eni now holds a 60% stake in the concession, Rosneft 30% and BP 10%. Eni has finalized the sale of a 30% stake in the Shorouk concession, where the super-giant Zohr gas field is located, to Rosneft. […]

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Egypt “muscling in” on global natural gas production

Posted: September 11, 2017 at 1:21 pm   /   Oil & Gas

Baker Hughes, a GE company, announced September 9, 2017 a major subsea contract from Petrobel for phase two of the “supergiant” Zohr Gas Field situated in the Mediterranean Sea, off the Egyptian coast. BHGE will provide project management, engineering procurement, fabrication, construction, testing and transportation of a subsea production system, and will support the installation, […]

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Baker Hughes awarded subsea contract by Petrobel for Phase 2 of Zohr Development

Posted: September 9, 2017 at 2:58 pm   /   Oil & Gas

Baker Hughes, a GE Company Awarded Subsea Contract by Petrobel for Phase 2 Development of Egypt’s ‘Super Giant’ Zohr Gas Field. • BHGE to provide engineering, fabrication and construction of subsea production system and support for installation, commissioning and start-up; • Building on existing local capabilities, BHGE will contribute to the development of Egypt’s domestic […]

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ADES announces appointment of new CFO

Posted: September 9, 2017 at 2:13 pm   /   Oil & Gas

ADES International Holding has named Ahmed El-Khatib as a Chief Financial Officer (CFO) with immediate effect. ADES is a London-listed company providing offshore and onshore oil and gas drilling and production services in the Middle East and Africa through its subsidiaries. The group operates a fleet of nine jack-up offshore drilling rigs, three onshore drilling […]

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Egypt's Petrobel achieves 30% increase over target in gas production

Posted: August 23, 2017 at 11:21 am   /   Oil & Gas

Company produces 75,000 crude oil barrels. Belayim Petroleum Company (Petrobel) has achieved a 30% increase over target in gas production in the current fiscal year. A source at the company told Daily News Egypt that the production increased to 1.6 billion cubic feet of gas per day. He pointed out that the company accounts for […]

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Saipem awarded $900 million offshore EPCI contract for Zohr Ramp Up Phase

Posted: July 27, 2017 at 8:52 pm   /   Oil & Gas

Saipem awarded offshore contract variations worth 900 million USD for the Optimised Ramp Up phase of the Zohr Field Development Project. Saipem and Petrobel have finalized offshore contract variations worth 900 million USD for Engineering, Procurement, Construction and Installation (EPCI) activities in relation to the “Optimised Ramp Up” phase of the “supergiant” Zohr Field Development […]

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ADES awarded series of Gulf of Suez drilling contracts by Eni

Posted: July 4, 2017 at 1:48 pm   /   Oil & Gas

Drilling and production services provider ADES International Holding Ltd said Monday it has made a series of contract agreements despite a period of oil price decline. The first contract is a new one awarded by Belayim Petroleum Co (Petrobel), a joint venture between Egyptian General Petroleum Corp (EGPC) and ENI IEOC, a subsidiary of Italian […]

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