Newsletter subscribe
Tag: Investment
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 […]

No Comments read more
dragon-oil

Dragon Oil to finalise acquisition in Egypt in next 3 to 4 months

Posted: April 12, 2019 at 9:35 am   /   Oil & Gas

In an exclusive 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), will finalise an acquisition in Egypt in the next three to four months, CEO Ali Al Jarwan […]

No Comments read more
UEG

United Energy Group completes acquisition of Kuwait Energy

Posted: April 10, 2019 at 9:23 am   /   Oil & Gas

Shalakany assists United Energy Group on their successful acquisition of Kuwait Energy PLC. Shalakany are pleased to announce that they acted for Hong Kong listed energy corporation United Energy Group Limited (“UEG”) as Egyptian legal counsel in their acquisition of the entire share capital of Kuwait Energy PLC (“KE”) for over USD 650 million, which […]

No Comments read more
SOCO

SOCO International completes acquisition of Merlon El Fayum Petroleum Company

Posted: April 5, 2019 at 4:45 pm   /   Oil & Gas

Further to the Company’s announcement on 29 March 2019, SOCO has announced the completion of the acquisition of Merlon Petroleum El Fayum Company from Merlon International. As previously announced, SOCO agreed to acquire Merlon in consideration for approx. US$136 million in cash and the issue of 65,561,041 new SOCO ordinary shares to the Seller. Prior […]

No Comments read more
Scimitar

Scimitar Production Egypt acquired by Dutch Inpector Capital BV

Posted: April 2, 2019 at 11:19 am   /   Oil & Gas

Inpector Capital BV acquired Scimitar Production Egypt Ltd., gaining a foothold in Egypt’s oil, gas and energy sectors. Inpector is well prepared to conduct long term projects, Corné Melissen, the company’s spokesman said, underlining his full confidence in the new management team of Scimitar. The company appointed Erik Vollebregt as Executive Chairman of Scimitar Production Egypt. […]

No Comments read more
DEA GOS

Concessions extended in Egypt: New Gulf of Suez investment for DEA

Posted: March 7, 2019 at 3:27 pm   /   Oil & Gas

Concessions extended in Egypt – New investment for DEA in the Gulf of Suez. New concession agreement signed at Ministry of Petroleum  Focus on unexploited potential of Ras Budran and Zeit Bay fields Improvement of sustainability through well workover and infrastructure integrity  DEA has extended its concessions for the Ras Budran and Zeit Bay oil […]

No Comments read more
BR-Result

EGAS, EGPC 2018 Bid Rounds results announced with 12 blocks awarded

Posted: February 13, 2019 at 3:10 am   /   Oil & Gas

Shell wins big in Egypt: Supermajor lands five blocks in latest bid round, while ExxonMobil makes debut. Royal Dutch Shell, Eni, BP and Exxon Mobil were among the winners in one of Egypt’s largest ever oil and gas exploration tenders on Tuesday, as the country looks to sustain an investment upswing spurred by major discoveries. […]

3 Comments read more
egypt-offshore-eni-blocks-sep18

BP buys 25% stake in Eni’s Nour concession offshore Egypt

Posted: December 10, 2018 at 2:01 pm   /   Oil & Gas

BP buys 25% stake in Eni’s Nour concession: BP has acquired a 25% stake in the Nour concession from Eni, according to a statement from Eni. Industry watchers hope the offshore North Sinai concession could be a Zohr-scale discovery. The “transaction is part of a wider business alignment with BP internationally and further strengthens the […]

No Comments read more
El Molla

US firms interested in Egypt’s offshore oil & gas exploration tenders

Posted: November 25, 2018 at 7:11 pm   /   Oil & Gas

Egypt sees increasing interest from U.S. energy companies in developing its offshore oil and natural gas resources and expects them to participate in two bidding rounds due before year-end, Petroleum Minister Tarek El Molla said. Egypt has emerged as an attractive destination for foreign energy firms following a string of major discoveries in recent years […]

No Comments read more
BP CEO

BP to spend $2.8bn in Abu Dhabi, Egypt to boost Middle East presence

Posted: November 12, 2018 at 1:29 pm   /   Oil & Gas

Oil major BP aims to spend $1.8 billion in Egypt next year and $1bn annually in Abu Dhabi as it looks to expand its operations in the Middle East on the back of new discoveries and licensing rounds, according to its chief executive. BP, one of the world’s largest oil companies and the earliest explorer […]

No Comments read more