TechnipFMC awarded Egypt Subsea Tieback Contract by Energean
Having taken the final investment decision on the North El Amirya and North Idku (NEA/NI) concession tieback project offshore Egypt, Energean plc reported Thursday that it has awarded the project’s engineering, procurement, installation and commissioning (EPIC) contract to TechnipFMC. Two discovered and appraised gas fields – Yazzi and Python – are located in the NEA […]
Wataniya Petroleum upcoming sale attracts more attention from GCC companies
The upcoming sale of military-owned Wataniya Petroleum is attracting more attention from GCC oil and gas companies, the local press reports, citing unnamed sources familiar with the negotiations. State-owned Emirates National Oil Company (ENOC) and Saudi Aldrees Petroleum and Transport Services Co. are reportedly interested in vying with Abu Dhabi National Oil Company (ADNOC) and […]
TAQA Arabia to build 180 natgas filling stations with EGP 3.6 bn investment
TAQA Arabia will invest EGP 3.6 bn to build 180 natgas filling stations between now and 2023, Executive Chairman Khaled Abu Bakr told Kelma Akhira’s Lamees El Hadidi last night. Qalaa Holdings’ energy distributor was announced last week as a private sector partner that will help expand the country’s network of natgas stations as more […]
Egypt signs Oil & Gas Exploration Agreements worth $1 billion
Egypt said it signed new agreements involving investment of about $1 billion to search for oil and natural gas in parts of the Mediterranean and Red Sea. The deals are with six international and local companies including Exxon Mobil Corp. and Chevron Corp., the state-run Middle East News Agency reported Friday, citing a statement from […]
USTDA Supports Major Refinery Upgrades in Egypt
The U.S. Trade and Development Agency awarded grants to the Amreya Petroleum Refining Company (“APRC”) and Suez Oil Processing Company (“SOPC”) for feasibility studies to modernize each company’s refinery. “These grants are a part of USTDA’s ongoing collaboration with the Ministry of Petroleum and Mineral Resource to make Egypt a leading energy hub,” said Todd […]
Adnoc, Taqa Arabia in the running for a stake in Wataniya Petroleum
Adnoc, Taqa Arabia in the running for Wataniya: A number of investors at home and abroad have expressed interest in acquiring a majority stake in the military-owned oil distribution company Wataniya Petroleum, Bloomberg reported on Thursday. Buyer #1: State-owned Abu Dhabi National Oil Company (Adnoc), which produces most of the UAE’s oil, is interested in […]
Energean announces completion of Edison E&P acquisition
Energean plc announced that it has completed its acquisition of Edison Exploration & Production S.p.A. (“Edison E&P“) from Edison S.p.A. (“Edison“). The gross consideration* for the transaction, as at the locked box date of 1 January 2019, is $284 million and the final net consideration (net of cash acquired) is 203 million. The enlarged group […]
Egypt’s Sovereign Fund offers Wataniya Petroleum for private investment
Safi, Wataniya Petroleum are up first in Egypt’s plan to partially privatize military-owned companies: The Sovereign Fund of Egypt (SFE) decided that Wataniya Petroleum and the National Company for Producing and Bottling Water (Safi) as the first two subsidiaries of the National Service Products Organization (NSPO) the fund will move to privatize, Planning Minister and […]
Egypt’s Government investment portfolio to go 100% green by 2023
Egypt is doubling down on its plans to go green, with a strategy to exclusively back green projects by 2023, said Planning Minister Hala El Said at the Egypt Economic Summit yesterday, according to a ministry statement. The minister had said that Egypt would invest EGP 36.7 bn in green projects in FY2020-2021, accounting for […]
S&P Global & IHS Markit to merge in all stock transaction, valuing IHS Markit at $44 bn
S&P Global and IHS Markit to Merge in All-Stock Transaction Valuing IHS Markit at $44 Billion, Powering the Markets of the Future Joins Two World-Class Organizations with Unique, Highly Complementary Assets to Enhance Customer Value Proposition Combined Company to Benefit from Increased Scale and Mix Across Core Markets with Attractive Growth Adjacencies Expected to be […]
