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Egypt

Pharos Energy in Farm-Out agreements of Egyptian Assets

Pharos Energy plc, an independent oil and gas exploration and production company 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 Co. (IPR Lake Qarun), a wholly owned subsidiary of […]

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Egypt boosts green energy economy via EBRD and QNB ALAHLI partnership financing

Africa commitment to key in with prevailing wave in global energy transition has  being entrenched in Egypt  developmental  economy. The European Bank for Reconstruction and Development (EBRD) is now plan to boost small businesses and green investments in Egypt  with a US$ 50 million loan to ONB ALAHLI,  one of Egypt’s largest commercial banks. The loan, […]

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United Oil & Gas reveals latest well success in Egypt

“We are delighted to be able to announce yet another positive result from the Abu Sennan licence,” said chief executive Brian Larkin. United Oil & Gas (LON: UOG) announced the success of its latest development well, Al Jahraa-8 (AJ-8), at the Abu Sennan concession in Egypt. The well encountered more than 40 metres of net […]

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EBRD and NBE support small businesses in Egypt

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 […]

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Egypt: UOG expects increase in production as ASD-1X Oilfield resumes

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, […]

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APA Corporation Reaches Agreement with EGPC for new PSC in Western Desert of Egypt

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”) […]

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Apache Announces 1Q 2021 Financial and Operational Update offshore Egypt

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 […]

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UOG tests ASD-1X well, spuds AJ-8 Development well offshore Egypt

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 […]

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Dana Gas jettisons Egyptian onshore assets sale deal

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 […]

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EBRD consortium bankroll Egypt’s largest solar plant, Kom Ombo, with US$114 million financing package

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 […]

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