Italian energy group Eni will invest around 24 billion euros ($26.24 billion) in Algeria, Libya and Egypt over the next four years to help boost energy production, CEO Claudio Descalzi said on Tuesday.The investments would coincide with the…
Egypt, which has struggled with declining domestic gas production, plans to lease a German floating gas liquefaction unit, the Egyptian petroleum ministry said in a statement on Tuesday.Egypt, the most populous Arab country, has been seeking…
The Ministry of Petroleum and Mineral Resources of Egypt has opened a licensing round, offering seven offshore blocks in the Mediterranean Sea and six exploration areas in the Gulf of Suez and the Western Desert in an effort to attract further investments in the country’s oil and gas industry…
UK-based gas producer Energean on Friday it was terminating a deal with private equity fund Carlyle for the sale of some of its assets due to delays in obtaining regulatory approvals in Italy and Egypt.The two companies struck a $945 million…
A drill ship will arrive in Egypt this month as operator Eni starts work on increasing production from the giant Zohr offshore gas field, Egypt's petroleum ministry said in a statement.Egypt had planned to become a major gas exporter after Eni discovered the field in 2015…
A deal for Carlyle to buy assets from Energean for up to $945 million is at risk of collapse as some regulatory hurdles are yet to be cleared ahead of a deadline this week, Energean said on Monday.The two companies reached an agreement last…
Egypt's petroleum minister Karim Badawi said on Tuesday that drilling work for the development of the Zohr gas field resumed in mid-February.Production had been curbed because of arrears owed to foreign oil companies.A drilling ship arrived…
Italian energy major Eni has signed an agreement with Egypt and Cyprus for the development and export of Cyprus Block 6 gas through Egypt’s existing infrastructure.The agreement outlines a comprehensive framework enabling a rapid development of the Cronos gas discovery offshore Cyprus…
BP has completed drilling operations at the El Fayoum-5 gas discovery well in the North Alexandria Offshore Concession, marking the final well in its four-slot drilling campaign in the West Nile Delta.Drilled using the Valaris DS-12 drillship…
Egypt has signed deals worth about $3 billion with Shell and TotalEnergies to secure 60 cargoes of liquefied natural gas (LNG) to cover demand for 2025, three trading sources told Reuters.The most populous Arab country last year returned to being a net importer of natural gas…
Egypt's giant Zohr gas field will start production after resuming drilling within weeks, Prime Minister Mostafa Madbouly said on Thursday, adding that operator ENI had a plan to expand drilling in the next two years.Production had been curbed because of arrears owed to foreign oil companies…
Chevron-led consortium, in charge of the development of Aphrodite field offshore Cyprus, has signed a non-binding memorandum of understanding (MoU) with the Egyptian national gas company EGAS for the export of gas from the field to Egypt.The MoU was signed by Chevron-led consortium…
Oil major BP has made a new oil and gas discovery in Egypt's King Mariout Block in the Mediterranean Sea, Egypt's Prime Minister Mostafa Madbouly said on Wednesday in a televised press conference.Further details about the discovery will be announced soon…
BP has started production from the second development phase of the Raven field offshore Egypt, the global oil company said on Sunday.BP said in a statement that the new wells are set to produce approximately 220 billion cubic feet of gas and 7 million barrels of condensate…
ExxonMobil Egypt, a subsidiary of U.S. oil giant ExxonMobil, has made a gas discovery as part of a drilling campaign in the North Marakia Block offshore Egypt.The drilling of the Nefertari 1 well at an area with at a water depth of 1,720 meters…
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