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Tag: Upstream
petronas

Petronas Exploring $3 Billion African Upstream Asset Sale

Posted: August 24, 2022 at 1:09 pm   /   Oil & Gas

Petronas could sell its Egyptian upstream assets as it looks to offload part of its African portfolio: Malaysian oil firm Petroliam Nasional Berhad (Petronas) is inviting bids for its upstream assets in Africa — including its local concessions — in a transaction that could be worth up to USD 3 bn, Bloomberg reports, citing sources it says has knowledge of the […]

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Tullow

Tullow Oil, Capricorn Energy agree to merge in all-share combination

Posted: June 2, 2022 at 12:00 pm   /   Oil & Gas

Tullow Oil and Capricorn Energy PLC have agreed to merge in an all-share combination, Tullow Oil said in a June 1 announcement. The combine would result in a diversified pan-African upstream portfolio underpinned by low-cost producing assets, with a deep portfolio of incremental high-return investment opportunities in Ghana, Egypt, Gabon, and Côte d’Ivoire, Tullow said. […]

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Shell subsidiary BG Egypt acquires 100% stake in ExxonMobil’s North East El Amriya offshore block

Posted: May 18, 2022 at 7:42 pm   /   Oil & Gas

SHELL STRENGTHENS ITS OFFSHORE POSITION IN EGYPT’S NILE DELTA – ACQUIRES OFFSHORE BLOCK 3 BG International Limited., a subsidiary of Shell plc., signed a Farm Out Agreement (FOA) with ExxonMobil Egypt (Upstream) Limited to acquire a 100% stake in the ExxonMobil-operated North East El-Amriya Offshore Area, Mediterranean Sea – also known as Block 3. On […]

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Wintershall Dea

Wintershall Dea divests its interest in the Gulf of Suez concession

Posted: February 3, 2022 at 3:40 pm   /   Oil & Gas

Transfer of interest to the Egyptian General Petroleum Corporation after 38 years of efficient production. Proud history in Egypt will continue. Stronger focus on production of natural gas. As of 1st January 2022, after 38 years of economic and efficient production from the Gulf of Suez, Wintershall Dea is closing this chapter of its long […]

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Energean

Energean to increase natgas production through new Mediterranean wells

Posted: December 15, 2021 at 7:26 pm   /   Oil & Gas

Energean expects to increase natgas production through new Mediterranean wells: The Greek energy firm sees new discoveries in its North Idku and North Amriya concessions adding 150 mn cubic feet of gas per day, according to a cabinet statement. The news came as Energean CEO Mathios Rigas discussed the company’s recent exploration activities in Egypt with Oil Minister Tarek El […]

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QatarEnergy-Shell-Egypt

Shell Egypt farms out 17% of two Red Sea offshore blocks to QatarEnergy

Posted: December 13, 2021 at 8:31 pm   /   Oil & Gas

QatarEnergy teams up with Shell on two blocks offshore Egypt: Deal marks entry of Qatari giant into Egypt’s lucrative exploration sector. QatarEnergy has signed a deal with Anglo-Dutch supermajor Shell to come on board two exploration blocks offshore Egypt in the Red Sea. Under the terms of the agreements, which are subject to customary approvals […]

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Shell

Shell Egypt completes sale of Western Desert assets to Cheiron Petroleum, Cairn Energy

Posted: September 24, 2021 at 2:15 pm   /   Oil & Gas

Shell Egypt and Shell Austria, subsidiaries of Royal Dutch Shell, have completed the sale of their upstream assets in Egypt’s Western Desert to a consortium made up of subsidiaries of Cheiron Petroleum Corp and Cairn Energy for a base consideration of US$ 646 million and additional payments of up to US$ 280 million between 2021 and 2024, contingent on the oil price and the […]

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Pharos Energy

Pharos Energy to farm out interest in El Fayum, North Beni Suef Concessions to IPR

Posted: September 15, 2021 at 12:05 pm   /   Oil & Gas

Pharos Energy has announced that the Pharos Group has entered into conditional agreements for the farm-out and sale of a 55% working interest and operatorship in each of the Egyptian El Fayum and North Beni Suef Concessions to IPR Lake Qarun Petroleum, a wholly owned subsidiary of IPR Energy. The consideration implies a gross (100%) value of up to US$115 million for the Assets and consists […]

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Cairn Energy

Cairn expects to finalize Shell Egypt onshore assets acquisition by end of month

Posted: September 8, 2021 at 1:45 pm   /   Oil & Gas

Cairn, Cheiron could replace Shell in the Western Desert before the month is out: Cairn Energy and partner Cheiron expect to finalize its takeover of Shell Egypt’s onshore oil and gas assets by the end of September, Cairn said yesterday. The joint acquisition, which will see the assets split 50-50 between the UK-listed company and leading Egyptian […]

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Frontier-Africa-E&P-2021

Opportunities for Governments at Africa E&P Summit

Posted: September 1, 2021 at 9:31 pm   /   Oil & Gas

Frontier would like to extend an invitation to Governments and National Oil Companies to take advantage of upcoming Africa E&P Summit – Africa’s Premier Global Oil, Gas & Energy Conference in London & Online taking place on the 22nd and 23rd September 2021 and to let you know of various opportunities and platforms available for Governments at […]

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