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Tag: Investment

TAQA Celebrates Milestones and Expands Service Footprint in Africa and Iraq

Posted: October 18, 2023 at 11:41 am   /   Oil & Gas

Marking Two Decades of Excellence: TAQA Celebrates Milestones and Expands Service Footprint in Africa and Iraq. The Industrialization and Energy Services Company (TAQA), a leading well solutions provider to the energy industry, celebrated its 20th anniversary at Abdeen Palace in Cairo. The celebration witnessed the announcement of the integration of “Tendeka”, “Cougar”, “TARGET”, and “AlMansoori Petroleum […]

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Egypt announces EGAS 2022 International Bid Round result with four blocks awarded

Posted: September 26, 2023 at 10:47 pm   /   Oil & Gas

The Ministry of Petroleum and Mineral Resources announced the results of the international bid round by the Egyptian Natural Gas Holding Company (EGAS) for the search and exploration of natural gas and crude oil in the Mediterranean Sea and Nile Delta regions, which closed in mid-July 2023. Four exploration areas were awarded, three of which […]

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ADNOC Distribution launches first service stations in Egypt as it delivers on international growth strategy

Posted: September 24, 2023 at 1:47 pm   /   Oil & Gas

ADNOC Distribution (ADX: ADNOCDIST), the UAE’s largest fuel and convenience retailer, today announced the inauguration of three ADNOC service stations in Egypt, strategically located in key areas across Greater Cairo to offer a full range of vehicle services to the local communities.  The Company plans to open a further six ADNOC service stations nationwide by […]

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TAQA Expands in Egypt as Strategic Hub for Energy Services

Posted: September 23, 2023 at 1:42 pm   /   Oil & Gas

Aiming to strengthen its presence, TAQA Expands in Egypt as Strategic Hub for Services. Following the acquisition of Al Mansouri Petroleum Services Company (AMPS), the Industrialization and Energy Services Company, ‘TAQA,’ has fortified its footprint in Egypt. This strategic move aims to position Egypt as a regional hub and a robust gateway for expansion into […]

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Shell sells minority stake in offshore Mediterranean block to Kuwait’s Kufpec

Posted: September 21, 2023 at 12:29 pm   /   Oil & Gas

Kufpec gets a slice of Shell’s Mediterranean block: Kuwait Foreign Petroleum Exploration Company (Kufpec) will acquire a 40% stake in Shell’s North East El Amriya concession area — also known as Block 3 – in the Mediterranean Sea, the companies said in a joint statement on Wednesday. The farm out agreement is pending approval from the government and regulators, […]

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ACWA Power granted land for 10 GW Wind Project in Egypt

Posted: July 18, 2023 at 11:51 am   /   Renewables

ACWA Power, a Saudi-listed company and the world’s largest private water desalination company, the first mover into green hydrogen, and a leader in energy transition, today signed a memorandum of understanding (MoU) with the New and Renewable Energy Authority (NREA) to allocate land for a 10 GW wind project in Egypt. The agreement was signed […]

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Eni to acquire Neptune Energy, with Norway assets going to Var, in $4.9bn deal

Posted: June 23, 2023 at 3:49 pm   /   Oil & Gas

Italian supermajor Eni’s takeover of Neptune Energy – a deal that has been rumoured for months – has officially been confirmed. A sale and purchase agreement has been formally agreed between the two groups, with Eni-owned Var Energi simultaneously signing a deal for Neptune’s Norwegian assets. The combined value of both transactions is $4.9 billion, subject to […]

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Actis, Edra looking to acquire Egypt’s Siemens power plant for up to $2 bn

Posted: June 11, 2023 at 2:40 pm   /   Electricity & Power

PE firm Actis and Malaysian power company Edra could spend up to USD 2 bn to acquire one of our Siemens-built power plants. Actis, Edra eye Siemens power plant: Private equity outfit Actis and Malaysian power company Edra have renewed their interest in acquiring one of the three Siemens-built power plants in a transactionthat could be worth USD 2 bn, Bloomberg reported Thursday, citing anonymous […]

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Italian oil major Eni resumes talks to acquire Neptune Energy

Posted: June 8, 2023 at 10:36 am   /   Oil & Gas

The Italian major first approached Neptune looking for a buyout in December last year. Italian oil major Eni has resumed talks to acquire independent producer Neptune Energy, after a first round of discussions over a potential takeover last year, Reuters reported. A new round of conversations reportedly started between the two companies in recent weeks, […]

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UAE and Egypt advance development of Africa’s biggest wind farm

Posted: June 8, 2023 at 10:32 am   /   Renewables

Masdar, one of the world’s leading clean energy companies, along with Infinity Power, Africa’s largest renewable energy developer, and Hassan Allam Utilities, a sustainable infrastructure focused investment platform, have signed an agreement with Egypt’s New and Renewable Energy Authority to secure land to build a 10 GW capacity onshore wind farm in Egypt, set to […]

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