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Tag: Kuwait

Baker Hughes awards ADES deep drilling contracts in Kuwait

Posted: December 10, 2019 at 1:20 pm   /   Oil & Gas

Baker Hughes Co. has awarded ADES International Holding PLC a pair of deep drilling contracts under a lump sum turnkey project (LSTK) project in Kuwait, ADES reported Monday. “We are extremely pleased to secure our first onshore deep drilling LSTK contract with Baker Hughes,” Mohamed Farouk, CEO of ADES commented. The contracts apply to ADES […]

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Onshore Rig

ADES acquires 12 onshore drilling rigs from Weatherford in Kuwait

Posted: November 3, 2018 at 2:00 pm   /   Oil & Gas

ADES International Holding Ltd. has completed the acquisition of twelve onshore rigs from Weatherford International Plc in Kuwait, the company said on Nov. 2. The transaction forms part of the previously signed definitive agreement with a subsidiary of Weatherford to acquire thirty-one onshore drilling rigs for a total consideration of $287.5 million across Kuwait, Saudi […]

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Egypt Gas and Kuwaiti Al Rabiya sign $8.6 million contract

Posted: October 25, 2017 at 11:24 am   /   Oil & Gas

State-run Egypt Gas Company said Monday it has signed a contract of 2.6 million Kuwaiti Dinars ($8.6 million) with Kuwait’s Al Rabiya, as part of expansion scheme outside Egypt. Egypt Gas added that says project will start at the beginning of 2018, with expected gains worth around 10 million pounds from the contract. (Source: Amwal […]

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KPC renews crude oil storage and transportation contract with SUMED

Posted: October 17, 2017 at 12:43 pm   /   Oil & Gas

Kuwait Petroleum Corporation (KPC) announced Monday it has renewed its crude oil storage and transportation contract with Egypt’s Arab Petroleum Pipelines Company (SUMED). KPC said in a press statement that the renewal of the contract was signed on the sidelines of the third Kuwait Oil & Gas Show and Conference (KOGS 2017) held in Kuwait […]

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NBK signs $300 million loan agreement with SUMED for LNG project

Posted: May 21, 2017 at 1:01 pm   /   Oil & Gas

National Bank of Kuwait-Egypt signs $300 credit facility agreement with Arab Petroleum Pipelines Co (SUMED). Loan to help SUMED finalise Ain Sokhna LNG project set for completion in 2019 with repayment spread over six years. SUMED company and the National Bank of Kuwait (NBK) signed an a agreement to provide $300 million to finance part […]

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EGPC, Kuwait Petroleum Corporation renew oil and fuel supply agreement for a further three years

Posted: April 6, 2017 at 1:45 pm   /   Oil & Gas

Egyptian General Petroleum Corporation (EGPC) renewed two 3-year commercial contracts with Kuwait Petroleum Corporation (KPC) in the presence of the Minister of Petroleum and Mineral Resources, Eng. Tarek El Molla. The contracts were signed by EGPC’s Executive Vice President, Hesham Nour El-Din, and KPC’s Managing Director of Global Marketing, Nabil Bouresli. The contracts state that […]

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Qalaa’s ERC in talks with Aramco, KNPC, Shell over fuel imports

Posted: February 28, 2017 at 3:01 pm   /   Oil & Gas

Qalaa Holdings subsidiary Egyptian Refining Company (ERC) is in talks with Saudi Aramco, Kuwait National Petroleum Company (KNPC) and Shell to import an additional 1.2 mn tonnes of feedstock needed for its operations at USD 3.7 bn refinery in Mostorod, ERC’s Managing Director Mohamed Saad tells Youm7. (Source:

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Iraqi Ambassador: Egypt to receive first oil shipment from Iraq in March

Posted: February 28, 2017 at 2:56 pm   /   Oil & Gas

Iraq is expected to deliver in March the first oil shipment to Egypt as part of a one-year agreement reached by the two countries in late 2016, Iraqi Ambassador to Cairo Habib Al-Sadr said on Monday. In an interview with Al-Ahram daily newspaper, Al-Sadr said the first batch, set at one million barrels per month, […]

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El Molla: Egypt committed to repaying $3.5 billion to foreign oil firms

Posted: January 26, 2017 at 12:11 pm   /   Oil & Gas

Egypt is committed to repaying the $3.5 billion it owes in arrears to foreign oil companies but a foreign currency shortage has made the drawing down of those debts more difficult, Petroleum Minister Tarek El Molla said on Tuesday. “We are committed and we will continue decreasing the numbers as we have done over the […]

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Kuwait to supply Egypt with 2 million barrels of oil a month

Posted: November 16, 2016 at 6:26 pm   /   Oil & Gas

Egypt’s state news agency says Kuwait has agreed to supply Egypt with 2 million barrels of crude per month, starting in January. Tuesday’s announcement comes more than a month after Saudi Arabia halted previously agreed fuel shipments to Egypt as differences over the conflicts in Syria and Yemen strained ties between the two nations. The […]

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