Tag Archive

Eni announces new production from the Western Desert

Eni announces new production from the Western Desert

July 23, 2019 No Comments

Eni announced that production from South West Meleiha Development Lease, located in the Egyptian Western Desert, some 130 Km North of the oasis of Siwa, has started. The current production, delivered through two oil producer wells, is around 5.000 barrel of oil per day (BOPD) and is expected to reach 7.000 BOPD within September 2019. […]

Dana Gas received $48 million from Egypt in June

Dana Gas received $48 million from Egypt in June

July 3, 2019 No Comments

Dana Gas PJSC (“Company”), the Middle East’s largest regional private sector natural gas company, has received payments of $48 million (AED 177 million) from its operations in Egypt in June. These collections comprise $38 million in payments from the government (of which $30 million as Dana Gas’ share of the industry payment) and $10 million […]

BP divests mature oil assets in Egypt to Dragon Oil

BP divests mature oil assets in Egypt to Dragon Oil

June 5, 2019 No Comments

BP has agreed to sell its interests in Gulf of Suez oil concessions in Egypt to Dragon Oil, the Dubai-based oil and gas company. Under the terms of the agreement, Dragon Oil will purchase producing and exploration concessions, including BP’s interest in the Gulf of Suez Petroleum Company (GUPCO). Dragon Oil is a wholly-owned subsidiary […]

DANA GAS SPUDS WELL IN EGYPT CONCESSION AREA

DANA GAS SPUDS WELL IN EGYPT CONCESSION AREA

May 22, 2019 No Comments

Dana Gas PJSC (“Company”), the Middle East’s largest regional private sector natural gas company, today announced it has commenced drilling operations on 20 May at its Merak-1 well, offshore Egypt. The location is in 755 meters of water in the North El Arish concession, also known as Block 6. This block is in the Eastern […]

Egypt’s Extended Fund Facility

Egypt’s Extended Fund Facility

May 17, 2019 No Comments

The IMF mission reached a staff-level agreement with the Egyptian authorities for the completion of the fifth and the final review of Extended Fund Facility. •           Prudent monetary and fiscal policies and a flexible exchange rate have underpinned macroeconomic stabilization and strengthened Egypt’s resilience to external shocks, while social protection measures have helped ease the burden […]

Another gas discovery in the Nour prospect, Offshore Egypt

Another gas discovery in the Nour prospect, Offshore Egypt

March 14, 2019 No Comments

Eni announces a new gas discovery under evaluation in the Nour exploration prospect located in the Nour North Sinai Concession, in the Eastern Egyptian Mediterranean, about 50 km North of the Sinai peninsula. The Nour-1 New Field Wildcat (NFW), which has led to the discovery, was drilled by the Scarabeo-9 semi-sub in a water depth […]

DEA extends Concessions in Egypt

DEA extends Concessions in Egypt

March 7, 2019 No Comments

DEA has extended its concessions for the Ras Budran and Zeit Bay oil fields in the Gulf of Suez. At a formal ceremony event, witnessed by H.E. Eng. Tarek El-Molla the Egyptian Minister of Petroleum and Mineral Resources, DEA’s General Manager Sameh Sabry signed the new concession agreement. The new agreement extends the concession for […]

Siemens completes extension of Toshka substation

Siemens completes extension of Toshka substation

February 20, 2019 No Comments

Siemens announced it has completed building and connecting the extension of Toshka substation in Egypt, in record time of three months, for the Egyptian Electricity Transmission Company (EETC). This paves the way for the realization of the Egypt-Sudan Electric Interconnection project. The new 220 kilovolt (kV) air-insulated substation (AIS) will dispatch around 400 megawatts (MW) […]

ENOC Group signs JV with Proserv Egypt

ENOC Group signs JV with Proserv Egypt

February 20, 2019 No Comments

ENOC Group signed a joint venture (JV) agreement with Proserv Egypt to set up ENOC Misr, its first on-ground operations in the lubricants sector in Egypt. The agreement marks ENOC Group’s physical presence in Egypt as part of its wider plans to expand its internationally into key markets, including Africa. Through this JV agreement, ENOC […]

Dana Gas announce Financial Results for the full year ended 31 December 2018.

Dana Gas announce Financial Results for the full year ended 31 December 2018.

February 15, 2019 No Comments

Dana Gas PJSC announced its Preliminary Unaudited Financial Results for the full year ended 31 December 2018. Revenue was 4% higher at $470 million (AED1.7 bn) compared with last year’s $450 million (AED1.65 bn) due to higher realised prices and incremental production in the KRI in Q4 2018. Gross Profit increased 19% to $140 million […]

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