BP buys 25% stake in Eni’s Nour concession offshore Egypt
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 […]
US firms interested in Egypt’s offshore oil & gas exploration tenders
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 […]
BP to spend $2.8bn in Abu Dhabi, Egypt to boost Middle East presence
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 […]
Eni estimates investment in Zohr gas processing plant at $5 billion
Italian Eni has estimated the cost of implementing the Zohr gas treatment plant to be $5bn, with a capacity of 3.2bn cubic feet of gas daily, in order to connect the production of the project that is estimated to be 2.9bn cubic feet. A source at the oil sector told Daily News Egypt that implementing […]
Enara to invest $200 million on solar projects in Egypt with 200 MW capacity
Sherif El-Gabaly, chairperson of Enara Capital, said that they are negotiating with the government to implement solar power plants with a capacity of 200MW and investments worth $200m. This is along with the projects that the company is implementing in Benban, Aswan, in the feed-in tariff projects. He explained that the projects will be established […]
Apache’s investment in Egypt exceeded $1 billion in 2018 – David Chi
David Chi, Vice-President and General Manager of Apache Egypt, said the company’s investments in the Egyptian petroleum sector exceeded USD 1 billion in 2018. In statements to MENA on Thursday on the fringe of a symposium organized by the Egyptian American Chamber of Commerce, Chi said the company is confident in the economic reforms which […]
BP looking to grow in Egypt, will not increase stake in Zohr field
BP CEO Bob Dudley told Reuters on Thursday that BP was looking to grow in Egypt where it is developing the West Nile Delta project. BP had pledged USD 2 billion in new investments in 2019. That said, BP will not raise its stake in Zohr for “capital employment reasons,” Dudley said. The option for […]
Egypt planning new Oil & Gas production contracts to attract investors
New, simpler terms for exploration in country’s frontier areas. Egypt seeks investment as it targets gas shipments to Europe. Egypt is working on a new model for future oil and natural gas production contracts in undeveloped areas to spur exploration and help become self-sufficient in energy, oil ministry and company officials said. The most populous […]
United Energy to raise Egypt investment, participate in upcoming Bid Rounds
Petroleum Minister Tarek Molla welcomed plans of China’s United Energy Group to invest in Egypt for the first time. The company expressed desire to take part in international tenders in Egypt in view of promising investments in oil exploration in the country. Molla made the remarks during a meeting on Wednesday with a delegation from […]
Egypt part of Dragon Oil’s $500 million regional investment budget?
Egypt in line for a chunk of Dragon Oil’s USD 500 million regional investment budget? Emirates National Oil Company (ENOC) subsidiary Dragon Oil is planning to invest about USD 500 million next year in oil and gas assets as part of an international expansion strategy to boost its production to 300k bbl/d of oil by […]
