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Tag: Investment

Egypt launches new bid round for oil & gas exploration in Mediterranean, Nile Delta

Posted: December 27, 2022 at 12:41 pm   /   Oil & Gas

Egypt has set a new international tender for oil and gas exploration rights in the Nile Delta and Mediterranean sea, the state news agency reported on Tuesday. The tender was set for 12 blocks, split evenly between onshore and offshore, and the deadline for offers in the bid round was set for April 30, 2023, […]

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BP to Explore Potential for Green Hydrogen Production in Egypt

Posted: December 9, 2022 at 2:31 pm   /   Renewables

bp signed a memorandum of understanding (MoU) with the Government of Egypt under which it will explore the potential for establishing a new green hydrogen production facility in the country. The MoU was signed by bp, Egypt’s New and Renewable Energy Authority (NREA), the Egyptian Electricity Transmission Company (EETC), the General Authority for Suez Canal […]

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eni

Eni reported to be in preliminary talks to buy Neptune Energy for $5-6 billion

Posted: December 3, 2022 at 12:12 pm   /   Oil & Gas

Eni is in preliminary talks to buy private-equity backed gas and oil producer Neptune Energy for around $5 billion -$6 billion, a source with knowledge of the matter said on Wednesday, adding that no official bid had been submitted. Neptune produces around 130,000 barrels of oil equivalent per day (boed), three-quarters of which is gas. […]

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AMEA Power signs Agreement with Government of Egypt to deploy 1,000MW Green Hydrogen Project

Posted: November 20, 2022 at 1:03 pm   /   Renewables

Agreement signed will support Egypt’s long term vision to become a green hydrogen hubThe project will produce 800,000 tonnes of green ammonia per year for export. AMEA Power, one of the fastest growing renewable energy companies in the Middle East, announced today that it has signed a Framework Agreement with the Government of Egypt to develop a 1,000MW […]

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Sovereign Fund of Egypt joins ACWA Power as co-investor of 1.1 GW Wind Energy project in the Suez Gulf Area

Posted: November 17, 2022 at 3:30 pm   /   Renewables

ACWA Power, a leading Saudi developer, investor, and operator of power generation, water desalination and green hydrogen plants worldwide, today signed a memorandum of Understanding (MoU) with The Sovereign Fund of Egypt (TSFE) to explore a joint investment in the 1.1 GW Wind Energy project, located in the Gulf of Suez in Egypt. The MoU […]

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Elsewedy Industrial Development & Global Chemical company BASF signed MoU to establish a Green Logistics Hub in Sokhna 360

Posted: November 11, 2022 at 7:43 pm   /   Renewables

First German Green Logistics Hub in Sokhna 360: Elsewedy Industrial Development & Global Chemical company BASF signed MoU to establish a Green Logistics Hub in Sokhna 360. Moving towards establishing green cities, Elsewedy Industrial Development, the leading integrated developer for sustainable industrial cities and a subsidiary of Elsewedy Electric signed an MoU with BASF, a […]

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green-hydrogen

Fertiglobe, Scatec, Orascom, Sovereign Fund of Egypt start commissioning of “Egypt Green”, Africa’s first integrated green hydrogen plant, during UN Climate summit

Posted: November 9, 2022 at 2:08 pm   /   Renewables

Today marks the start of the commissioning of the first phase of the green hydrogen plant in Ain Sokhna, Egypt, during an event at COP27 attended by Egyptian President, Abdel Fattah El-Sisi and the Norwegian Prime Minister, Jonas Gahr Støre. The facility is the first integrated green hydrogen plant in Africa, and when fully developed […]

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ACWA

ACWA Power set to explore bringing on Oman Investment Authority as co-investor for 1.1GW Suez Wind Energy project

Posted: November 8, 2022 at 2:37 pm   /   Renewables

The signing was attended by His Royal Highness Prince Abdulaziz bin Salman Al Saud, Minister of Energy of Saudi Arabia  OIA will own up to 10% stake in the wind farm project Egypt’s Hassan Allam Holdings is a 25% co-investor ACWA Power will hold the remaining share in the facility US$1.5 billion project expected to […]

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Solar

KarmSolar to sell a minority stake to investors via a capital increase

Posted: August 30, 2022 at 1:26 pm   /   Renewables

Solar energy company KarmSolar will sell a minority stake to investors via a capital increase as it looks to expand its presence in Egypt and across the region, it said in a statement. The company hopes to raise “a significant amount” in the investment round, KarmSolar CEO Ahmed Zahran told Enterprise, but stopped short of disclosing the target sum […]

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petronas

Petronas Exploring $3 Billion African Upstream Asset Sale

Posted: August 24, 2022 at 1:09 pm   /   Oil & Gas

Petronas could sell its Egyptian upstream assets as it looks to offload part of its African portfolio: Malaysian oil firm Petroliam Nasional Berhad (Petronas) is inviting bids for its upstream assets in Africa — including its local concessions — in a transaction that could be worth up to USD 3 bn, Bloomberg reports, citing sources it says has knowledge of the […]

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