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Tag: Investment
TechnipFMC

TechnipFMC awarded Egypt Subsea Tieback Contract by Energean

Posted: January 23, 2021 at 8:11 pm   /   Oil & Gas

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 […]

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wataniya

Wataniya Petroleum upcoming sale attracts more attention from GCC companies

Posted: January 13, 2021 at 10:57 am   /   Oil & Gas

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 […]

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TAQA

TAQA Arabia to build 180 natgas filling stations with EGP 3.6 bn investment

Posted: January 10, 2021 at 11:41 am   /   Oil & Gas

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 […]

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offshore

Egypt signs Oil & Gas Exploration Agreements worth $1 billion

Posted: January 3, 2021 at 12:55 pm   /   Oil & Gas

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 […]

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ustda

USTDA Supports Major Refinery Upgrades in Egypt

Posted: December 23, 2020 at 9:01 pm   /   Oil & Gas

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 […]

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adnoc

Adnoc, Taqa Arabia in the running for a stake in Wataniya Petroleum

Posted: December 20, 2020 at 12:38 pm   /   Oil & Gas

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 […]

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Signing Edison E&P Acquisition Photo

Energean announces completion of Edison E&P acquisition

Posted: December 19, 2020 at 11:48 am   /   Oil & Gas

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 […]

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SFE

Egypt’s Sovereign Fund offers Wataniya Petroleum for private investment

Posted: December 15, 2020 at 3:28 pm   /   Oil & Gas

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 […]

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windfarm-egypt

Egypt’s Government investment portfolio to go 100% green by 2023

Posted: December 5, 2020 at 8:56 pm   /   Renewables

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 […]

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S&P Global

S&P Global & IHS Markit to merge in all stock transaction, valuing IHS Markit at $44 bn

Posted: December 1, 2020 at 12:33 pm   /   Oil & Gas

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 […]

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