News / Egypt

A consortium of banks to finance new petrochemical projects in Egypt

Foreign and Egyptian banks in Egypt are becoming active partners in the field of oil and petrochemical industries thanks to the high profitability and economic viability of these projects.

Egypt, Canada to establish a $1.5 billion petrochemical project

The Egyptian Minister of Petroleum Eng. Sameh Fahmy witnessed the signing of a financing agreement in which Egyptian banks participate with nearly $380 million loan in the establishment of the $950 million Egyptian Agrium Company for Nitrogenous Products.

Petzed announces a new oil discovery in South Abou Zeneima

Petzed, a fully owned subsidiary of National Petroleum Company (NPC), achieved a new commercial oil discovery in South Abou Zeneima, announced the Egyptian Ministry of Petroleum in a statement.

Regal Petroleum announced its Operational Update in Egypt

Regal Petroleum announces that Apache East Ras Budran Corp. LDC as operator of the East Ras Budran Concession in Egypt has spudded exploration well ERB-A-1X.

Melrose Resources provides Egyptian drilling update

Melrose provides update of the results of its continuing drilling program in Egypt. The West Dikirnis No.9 has been drilled as a development well in the western part of the field.

PGNiG wins the bid for Egypt’s Bahariya exploration concession

PGNiG SA was informed that the bid submitted by the company for exploration on Bahariya 3 Block in Egypt was accepted by Egyptian General Petroleum Corporation. It was the first bidding round for exploration concessions in Egypt in which PGNiG submitted its bid.

Dana Gas announces new gas discovery in Egypt

Dana Gas, the Middle East private-sector natural gas company, has announced a new gas and condensate discovery from its El Wastani West-2 well (EWW-2).

Kuwait takes part in $3 billion oil investments in Egypt

Preparations are underway for two oil refining and petrochemical projects worth $3 billion to be carried out in Egypt with joint Kuwaiti and Bahraini investments, said Egypt's Minister of Petroleum Sameh Fahmy.

Europa to begin Egypt field work by the end of 2007

Europa Oil & Gas (Holdings) plc signed its production sharing agreement covering the West Darag Onshore Concession in Egypt.

Egypt hosts the first factory in the Middle East to produce oil and gas pumps

Eng. Sameh Fahmy, Minister of Petroleum, accompanied by General Seif El Din Galal, Suez Governor visited the Egyptian – German joint factory for producing oil and gas pumps at Suez city, with investments of about L.E. 150 million.

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