Shell appoints Citi for $1 billion sale of Egypt Western Desert assets
Royal Dutch Shell has appointed investment bank Citi to run the sale of its onshore Egyptian oil and gas assets which could fetch around $1 billion, sources close to the process said. The sale process is expected to be officially launched at the end of November, the sources said. Shell said last month it plans […]
Onshore Egypt still attractive even as Shell sells assets – Upstream Opinion
OPINION: Shell’s decision to exit onshore assets in Egypt highlights a trend by major producers to abandon ageing fields that need intensive efforts to keep them producing without the expected reward. By contrast, heavyweight international oil companies are turning their focus offshore in the Mediterranean Sea, which offers significant exploration upside. The departure of major […]
Shell Egypt to sell its onshore Western Desert upstream assets
SHELL EGYPT TO MARKET ITS CURRENT ONSHORE UPSTREAM ASSETS IN THE WESTERN DESERT TO FOCUS ON OFFSHORE GAS GROWTH Shell Egypt is to market its current onshore upstream assets in the Western Desert in order to fully concentrate on growing its Egyptian offshore exploration and integrated gas business. Wael Sawan, Shell Upstream Director, said: “Shell […]
United Oil & Gas’ acquisition of Rockhopper to close by 4Q2019
United Oil & Gas’ acquisition of Rockhopper Egypt “progressing well”: Rockhopper Exploration’s sale of its Egypt business to Irish energy company United Oil & Gas is on track to be completed by the end of 4Q2019, Rockhopper said in a statement yesterday. Rockhopper and United had signed a USD 16 million share purchase agreement in […]
Apache JV Qarun Petroleum drilled 10 Western Desert exploration wells
Qarun Petroleum, a joint venture between Apache and the Egyptian General Petroleum Company, has drilled 10 exploratory wells in the Western Desert, producing a combined 5k bbl/d, the Oil Ministry said in a statement yesterday. This will account for 16% of the company’s total production. The company is now considering investing USD 237 million during […]
EGPC to launch new oil and gas exploration bid round by end of year
The Egyptian General Petroleum Corporation (EGPC) aims to launch an oil and gas exploration tender by the end of this year, to increase the exploration operations in the different concession areas, and boost rates of production, A source in the petroleum sector told Daily News Egypt that EGPC is currently planning the areas to be […]
Eni starts production from Western Desert, announces new discoveries onshore Egypt
Eni starts output onshore Egypt: Italian player kicks off production from the Western Desert. Italian player Eni has started production from its fields in the Western Desert, onshore Egypt. The company said on Tuesday that production from South West Meleiha development lease kicked off with some 5000 barrels of oil. Eni announces new production from […]
United Oil & Gas announces acquisition of Rockhopper Egypt for $16 million
Rockhopper exits Egypt: Interest in Abu Sennan concession sold to United Oil & Gas in $16 million deal. Rockhopper Exploration has struck a deal to sell off its interest in the Abu Sennan concession in Egypt to fellow London-listed company Untied Oil & Gas. Headlines Conditional acquisition by United of Rockhopper Egypt for US$ 16 […]
TransGlobe SGZ-6X discovery due on stream in new development lease
TransGlobe Energy Corp., Calgary, plans to bring its South Ghazalat (SGZ)-6X discovery in Egypt’s Western Desert on production at an initial rate of 1,000 b/d of 34° gravity crude oil in this year’s fourth quarter under a newly approved develop lease. The company will use initial production from the Late Cretaceous Upper Bahariya formation to […]
EGAS, EGPC 2018 Bid Rounds results announced with 12 blocks awarded
Shell wins big in Egypt: Supermajor lands five blocks in latest bid round, while ExxonMobil makes debut. Royal Dutch Shell, Eni, BP and Exxon Mobil were among the winners in one of Egypt’s largest ever oil and gas exploration tenders on Tuesday, as the country looks to sustain an investment upswing spurred by major discoveries. […]
