Small and medium-sized enterprises (SMEs) in Egypt will benefit from a US$ 100 million loan by the European Bank for Reconstruction and Development (EBRD) to the National Bank of Egypt (NBE) to support energy efficiency, climate change mitigation and the introduction of adaptation technologies. NBE will on-lend the funds to SMEs in industry, commerce, and agriculture […]

United Oil & Gas plc’s (UOG) an exploration and production company with operations in Egypt has been granted approval for a development lease to cover the ASD-1X discovery, part of the Abu Sennan Licence, which allows production operations to get underway. Production starts from the ASD-1X well at an initial gross rate of 1,295 bopd, […]

APA Corporation (APACHE) has announced it has reached an agreement in principle with Egypt’s Ministry of Petroleum and Mineral Resources (MOP) and the Egyptian General Petroleum Corporation (EGPC) in support of the MOP’s efforts to modernize the country’s petroleum sector. The new Production Sharing Contract (PSC) will consolidate the majority of the concessions in the Western Desert of Egypt operated by APA Corporation subsidiary Apache Egypt (“Apache”) […]

Highlight Reported production of 382,000 barrels of oil equivalent (BOE) per day; adjusted production, which excludes Egypt noncontrolling interest and tax barrels, was 326,000 BOE per day;  Generated net cash from operating activities of $671 million, adjusted EBITDAX of $1.14 billion, and free cash flow of more than $500 million; Delivered upstream capital investment and […]

United Oil & Gas PLC the growing oil and gas company with a portfolio of production, development, exploration and appraisal assets, has announced the following update on the testing of the ASD-1X exploration well in the Abu Sennan concession, onshore Egypt and the spudding of the AJ-8 development well. United holds a 22% non-operating interest in Abu Sennan, which is […]

Dana Gas United Arab Emirates-listed company has said that it had abandoned plans to sell onshore oil and gas assets in Egypt after conditions for a transaction could not be met. The energy company had expected to close the $236 million sale to IPR Wastani Petroleum Ltd, a member of the IPR Energy Group, early […]

The European Bank for Reconstruction and Development (EBRD), the OPEC Fund for International Development   (EBRD), the  (the OPEC Fund), the African Development Bank (AfDB), the Green Climate Fund  (GCF) and Arab Bank today signed a US$114 million financing package with ACWA Power for the construction of the largest private solar plant in Egypt. The development of the Kom […]

BP today announced gas production from Raven field, the third stage of its major West Nile Delta (WND) development off the Mediterranean coast in Egypt. The approximately $9 billion WND development includes five gas fields across the North Alexandria and West Mediterranean Deepwater offshore concession blocks in the Mediterranean Sea. bp and its partners, working […]

United Oil & Gas PLC, the growing oil and Gas Company with a portfolio of production, development, exploration and appraisal assets is pleased to provide the following reserves update on the Abu Sennan concession, onshore Egypt. United Oil & Gas holds a 22% working interest in the Licence, which is operated by Kuwait Energy Egypt. Highlights: Independent reserves […]

United Oil & Gas PLC, the growing oil and Gas Company with a portfolio of production, development, exploration and appraisal assets, offers a quarterly production update for the first quarter of 2021. United’s Q1 2021 net working interest production averaged 2,520 boepd (2,053 bopd oil and 467 boepd gas), slightly above the previously provided guidance for H1-21 […]