News / Egypt
Hibuscus Petroleum Wins Concession in Egypt
Malaysia's Hibiscus Petroleum Bhd. has been awarded the South East Ras El Ush concession (Block 2) in Egypt by the Ganoub El-Wadi Petroleum Holding Co. (Ganope), reported Amwal al Ghad.
Petrosalam Hands Over Gulf of Suez Concessions to EGPC
Petrosalam handed over its exploration concession Northwest October in the Gulf of Suez to EGPC, reported Al Borsa Newspaper Petrosalam began exploration work in January but had to discontinue its operations due to the declining global Brent price of oil which affected the feasibility of the project.
Egypt to Reduce its Debt to IOCs to $2.9bn
Sherif Ismail, Egypt’s Petroleum Minister announced the country’s plan to reduce its debt to foreign oil companies to $2.9 billion from $3.5 billion by the end of August, with a plan to repay the rest by the end of 2016, reported Reuters.
Petroleum Ministry to List 3 Government Oil Companies on EGX in 2015
Egyptian Minister of Petroleum Sherif Ismail announced that Egypt will choose a local investment bank during the third quarter of the current year to list 3 companies on EGX before the end of 2015, reported Reuters.
Results of Ganope International Bid Round Announced
Sherif Ismail, Minister of Petroleum and Mineral Resources, received a report from the Ganope chairman Abubakar Ibrahim on the results of the company’s latest international bidding round, put forward by the company at the end of 2014.
Subsea 7 Awarded $500m Contract in Egypt
The work scope includes the engineering, procurement, installation and pre-commissioning of subsea infrastructure required to develop the hydrocarbon resources from nine wells including 75 km of umbilicals and 100 km of pipeline.
BW Strikes a Deal to Provide Egypt with its Second FRSU
Norway-based BW Gas will provide Egypt with a liquefied natural gas (LNG) floating import terminal under a five-year contract, an official at state company EGAS told Reuters on Monday, as the government grapples with energy shortages.
Press Release: Egyptian Ministry of Petroleum
The Minister of Petroleum and Mineral Resources, Sherif Ismail, announced that the launching of the new Suez Canal project is a message of hope to the Egyptian people and a gift to the world.
