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Tag: Investment
Rig

Gas investments in MENA region jump by 29% despite demand shock

Posted: October 17, 2020 at 7:16 pm   /   Oil & Gas

The Arab Petroleum Investments Corporation’s report shows the MENA region’s committed gas investments are set to “hold steady” while planned gas investments are set to reach $126bn this year Planned gas investments in the Middle East and North Africa (MENA) in 2020 have jumped by 29% compared to last year despite the historic global demand […]

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Apache Acreage

Apache can spend up to $900 mn at its Western Desert concessions this year

Posted: October 6, 2020 at 2:02 pm   /   Oil & Gas

US oil and gas producer Apache could spend as much as  USD 900 million at its Western Desert oil concessions this fiscal year if oil prices mount a recovery, Al Mal reports, citing a senior official at the Egyptian General Petroleum Corporation (EGPC). The company spent some USD 840 million in Egypt last fiscal year […]

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EFG Hermes

Egypt’s EFG Hermes sells UK Solar Assets for over $600 million

Posted: October 5, 2020 at 10:13 pm   /   Renewables

The deal values Vortex III portfolio at almost $650 million  EFG may invest $600 million building a new renewable portfolio  Egyptian investment bank EFG-Hermes Holding Co. sold a controlling stake in a U.K. solar-energy portfolio to a Malaysian utility in a deal that values the assets at 500 million pounds ($647 million). EFG-Hermes’s private equity […]

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desalination

Actis to set up $4 bn fund to invest in Egyptian renewables, infrastructure

Posted: October 5, 2020 at 10:04 pm   /   Renewables

Actis eyes Egyptian renewables, infrastructure projects with new USD 4-4.5 bn regional fund: Emerging markets private equity giant Actis is looking to raise USD 4-4.5 bn to set up a new international fund, Actis 5, to invest in renewable energy and infrastructure projects with a particular focus on the Middle East and North Africa, partner […]

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NESR

US-based oilfield service provider NESR acquires Egypt’s SAPESCO for $21 million

Posted: September 20, 2020 at 11:45 am   /   Oil & Gas

Texas-based National Energy Services Reunited (NESR) enters Egyptian market with USD 21 million purchase of Egypt’s SAPESCO: US-based MENA and Asia Pacific oilfield service provider National Energy Services Reunited (NESR) closed last week its USD 21 million acquisition of Egypt’s Sahara Petroleum Services Company (SAPESCO), according to a press release from Matouk Bassiouny & Hennawy, […]

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taqa_station

TAQA Arabia to inaugurate new natural gas fueling stations this year

Posted: September 17, 2020 at 11:15 am   /   Oil & Gas

TAQA Arabia is planning to open several natural gas fueling stations before the end of the year at a combined cost of EGP 145 mn, TAQA CEO Pakinam Kafafi said, according to Al Mal. The new stations will bring the total number operated by the Qalaa Holdings subsidiary to 21, and come as part of […]

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Infinity-50 ib vogt

German ib vogt sells its share in 64.1 MW Benban solar plant to Masdar

Posted: September 16, 2020 at 12:59 pm   /   Renewables

Ib Vogt sells one of its Benban plants to Masdar, looks to offload three more: Germany solar company Ib Vogt has sold its entire share in its 64.1 MWp PV plant in the Benban solar park to Abu Dhabi-based renewable energy company Masdar, it said in a statement. The company did not disclose the value […]

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Energean Power FPSO

Energean’s H1 2020 results: Strong performance with 52.1 kboed production

Posted: September 10, 2020 at 1:01 pm   /   Oil & Gas

Strong performance in 1H 2020 with 52.1 kboed pro forma production – pro forma $177million revenue, $66 million operating cash flow, $350 million capex reduction. Energean has today announced HY results for the period ended 20 June 2020. The highlights include: Combined business pro forma production was 52.1 kboed, compared with full year guidance of […]

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Storage Terminal

Total Egypt, Ola Energy to construct Alexandria petroleum storage facility

Posted: September 8, 2020 at 1:15 pm   /   Oil & Gas

Total Egypt, OLA to partner in Alexandria Petroleum Products Terminal construction Total Egypt and OLA Energy Egypt have signed a joint venture agreement to jointly own, build, and operate a new petroleum products terminal in Alexandria. The Alexandria Petroleum Products Terminal (APPT) will be built at the Mex Petroleum Zone on a 23,000 square metre […]

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Dana Gas

Dana Gas in talks with IPR Energy over the sale of its Egypt assets

Posted: September 3, 2020 at 2:40 pm   /   Oil & Gas

United Arab Emirates’ Dana Gas is negotiating details of a sale of its Egyptian assets with Texas-headquartered IPR Energy, three sources familiar with the matter said, ahead of a repayment of some $300 million in debt in October. The energy producer – whose main assets are in Egypt and in the Kurdistan Region of Iraq […]

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