Petroleum marine services provider PMS wins four bids in Egypt
Egypt-based Petroleum Marine Services Company (PMS) won executing four large projects including the expansion project of the third basin in Ain Sukhna port for Armed Forces Engineering Authority. Chairman El-Sayed El-Badawi stated Sunday that PMS is to execute the developmental project of platform Amal C for PICO International Petroleum (PIP), Egypt’s largest private sector oil […]
Eni completes authorization process for the development of Zohr gas field
The Egyptian Ministry of Petroleum has approved that EGAS grants Eni the Zohr Development Lease, which allows for the development of the gas field located offshore Egypt. The Egyptian Ministry of Petroleum and Mineral Resources has approved that the Egyptian Natural Gas Holding Company (EGAS) grants Eni the Zohr Development Lease, which, following the contractual […]
El-Molla announces completion of administrative procedures for Zohr development
The Minister of Petroleum and Mineral Resources, Eng. Tarek El-Molla, announced that the administrative procedures have been completed for the development of Zohr, the super-giant gas field in the Shorouk concession in Egypt’s Mediterranean Sea economic waters, pointing out that the field’s development lease to Eni’s wholly-owned company Ieoc has been ratified. Eng. El-Molla explained […]
Eni and EGPC establish JV for Zohr ‘super giant’ gas field
Eni and Egyptian General Petroleum Corporation (EGPC) have announced to enter into a joint venture to create Petro Shorouk. Petro Shorouk will be a subsidiary of Petrobel and will be tasked to complete the first stage of development of the Zohr gas field by the end of 2017, according to Daily News Egypt reports. The […]
Eni completes sale of 12.5% of Saipem share capital to Fondo Strategico Italiano
The Shareholders Agreement between Eni and FSI has taken full effect With reference to the sale and purchase agreement between Eni S.p.A. and Fondo Strategico Italiano S.p.A., the object of which is the sale, from Eni to FSI, of a stake in Saipem S.p.A. share capital, consisting of n. 55,176,364 ordinary shares, equal to 12.5% […]
Eni's sale of Saipem stake gets European Commission clearance
Eni: sale of a stake in Saipem, the antitrust condition precedent has been satisfied after the clearance of the European Commission Reference is made to the sale by Eni S.p.A. (“Eni”) to Fondo Strategico Italiano S.p.A. of a stake in Saipem S.p.A., consisting of 55,176,364 ordinary shares that correspond to 12.5% of Saipem’s share capital […]
Production in Zohr fields to begin before end of 2017
EGPC Chairman: Procedures of establishing Petro Shorouk will begin to manage and develop Zohr field. Petrobel is nearing the official formation of Petro Shorouk, the company’s subsidiary that will be tasked with completing the first developmental phase of the Zohr natural gas field before the end of 2017. The Italian Eni discovered Zohr field in […]