United Energy Group completes acquisition of Kuwait Energy
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 […]
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 […]
United Energy Group acquires Kuwait Energy in $651 million deal
Hong Kong-listed energy firm United Energy Group has made a $651 million bid to acquire Kuwait Energy, United Energy said in a filing to the Hong Kong stock exchange, Reuters reports. Egypt assets among those that enticed United: The move comes as United Energy looks to expand in the Middle East. Kuwait Energy has operations […]
Egypt signs $10 mn E&P agreement with Rockhopper, Kuwait Energy, Dover
The Egyptian General Petroleum Corporation EGPC signed a USD 10 million agreement with British Rockhopper Exploration, Kuwait Energy and Canada’s Dover Corporation for oil and gas exploration in the Abu Sennan concession in the Western Desert, according to an Oil Ministry statement on Saturday. The agreement entails the drilling of four wells and includes a […]
Kuwait Energy looking to sell Egypt assets – sources
Kuwait Energy looks to spin-off Egyptian assets: Kuwait Energy has hired investment bank Perella Weinberg Partners to advise on possibly divesting its stakes in Egypt and Iraq, sources close to the matter tell Reuters. Plans include spinning off Egypt assets that include interests in four oil and gas fields, including the Abu Sennan concession. Kuwait […]
SOCO International terminates Kuwait Energy merger talks
SOCO said it “remains committed to a strategy of shareholder value creation”. SOCO International Plc told investors that it has withdrawn from talks with Kuwait Energy. The company, in a statement, said it “could not reach agreement with Kuwait Energy on the basis for an acceptable transaction.” It added that it remains committed to a […]
Kuwait Energy announces oil discovery at Area A in Egypt's Eastern Desert
Kuwait Energy is pleased to announce an oil discovery in the Area A concession situated in the Eastern Desert, Egypt. The South Kheir-1X (SK-1X) well spud on 11 December 2017 and tested successfully on 28 January 2018 at an initial oil flow rate of 2,452 barrels of oil per day (bopd) from the Hamman Faraun […]
SOCO International in potential merger talks with Kuwait Energy
SOCO International, an oil and gas exploration and production company listed on the London Stock Exchange, said on Monday it was evaluating a merger with Middle East oil and gas firm Kuwait Energy. Its statement confirmed a Reuters report earlier on Monday that the two companies were in merger talks. A merger would provide a […]
GlobalConnect completes acquisition of 25% interest in Abu Sennan Concession in Western Desert
GlobalConnect announces final Egypt Government approval of its acquisition of 25% participating interest in the Western Desert Abu Sennan Concession. GlobalConnect Ltd., a newly established Oil and Gas Exploration and Production company with focus on MENA (Middle East and North Africa) region, has announced the final approval of Egypt government of its acquisition of 25% […]
Kuwait Energy sells 15% of its share in Siba gas field to EGPC
The Basra Oil Company signed an amendment for Siba gas field contract that will enable Egyptian General Petroleum Corporation (EGPC) to enter as a partner in Kuwait Energy’s share by 15%. Kuwait Energy has a share of 45% in the project, as well as 30% for the Turkish Petroleum Corporation (TPAO) and 25% for Missan […]
