Saudi Arabia's sovereign wealth fund is planning an initial public offering (IPO) of oil and gas drilling firm ADES International in Riyadh next year that could fetch more than $1 billion, according to two sources who declined to be identified as the matter is not public…
The United Arab Emirates will be a responsible supplier of oil and gas for as long as the world needs, its President Sheikh Mohammed bin Zayed al-Nahyan said on Monday at the start of two weeks of climate talks in Egypt.He added the Gulf nation…
Egypt is aiming to take over the development of Gaza's offshore natural gas field, Egyptian and Palestinian officials said, in what would be a boost for the cash-strapped Palestinian economy. While Egypt and Israel have been producing gas in the eastern Mediterranean for years…
East Mediterranean gas reserves can help ease Europe's energy crunch but require funding from institutions like the European Bank for Reconstruction and Development and the European Investment Bank to realise the area's full potential, an official said on Friday…
Capricorn Energy plans to merge with Israel's NewMed in an all-share deal after paying a $620 million special dividend to its shareholders, ditching a previous scheme to merge with Tullow Oil.The Capricorn-NewMed deal would create an Israel…
Capricorn Energy, whose planned merger with rival Tullow Oil has faced investor backlash, said on Tuesday it was exploring alternative deals after unnamed parties expressed interest.Oil and gas producer Capricorn's proposed $827 million deal with Tullow has faced stiff opposition from investors…
A subsidiary of Shell plc, BG International, signed a farm-out agreement (FOA) with ExxonMobil Egypt to acquire a 100% stake in the Exxon Mobil-operated North East El-Amriya offshore area, Mediterranean Sea, also known as Block 3, a Shell statement said on Wednesday…
Africa-focused oil and gas company VAALCO Energy has agreed to merge with TransGlobe Energy Corporation in a deal that will see VAALCO acquire all of the outstanding common shares of TransGlobe in a stock-for-stock strategic business combination transaction valued at US$307 million…
French seismic data processing company CGG said Tuesday it had won a contract with BP and its JV Partner Pharaonic Petroleum Co for the 3D seismic imaging of the first OBN survey ever conducted in the Nile delta covering the Atoll and Atoll North fields…
Egypt's state-owned gas company and U.S.-based Chevron Corp on Monday signed a preliminary agreement to explore sending natural gas from offshore Mediterranean fields to Egypt for processing and export.The memorandum of understanding signed…
British oil major BP has won the rights to an exploration block in the Mediterranean Sea, offshore Egypt.Accoridng to a press statement sent to Offshore Engineer by BP, the company won the rights to the The King Mariout Offshore area, located…
The European Commission has proposed a deal to EU member states with Egypt and Israel to boost imports of natural gas from the eastern Mediterranean, according to a draft document seen by Reuters dated June 7.The draft memorandum of understanding…
Israel is renewing offshore natural gas exploration and hopes to reach an agreement soon for exporting gas to Europe, Israel's energy minister said on Monday.Energy Minister Karine Elharrar had said exploration for new gas fields would be put…
Israel's NewMed Energy [formerly known as Delek Drilling] on Monday said it was moving forward with the development of the Aphrodite natural gas field offshore Cyprus and reported a drop in quarterly profit as new tax regulations took effect…
Israel is boosting offshore natural gas output and aims to reach a supply agreement with Europe in the coming months as the continent looks to replace the Russian supply.The country is on track in the next few years to double production to about…
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