EIB offers 50 million euro loan to Egypt’s gas line project

• Saturday, 23rd December 2006
• by Egypt Oil & Gas

The Egyptian Minister of Petroleum Sameh Fahmy announced that the European Investment Bank (EIB) will finance Egypt’s south-bound gas pipeline with a 50-million-euro loan, reported MENA news agency.

BP Egypt to invest $5 billion in local energy industry

• Saturday, 23rd December 2006
• by Egypt Oil & Gas

British Petroleum (BP) revealed its plan to increase its investments in Egypt to $20 billion, as it announced its intention to invest around $5 billion in the local oil industry over the coming five years making the company the largest foreign investor in Egypt, reported the Daily Star.

RWE Dea awarded new exploration concession in Egypt

• Tuesday, 5th December 2006
• by Egypt Oil & Gas

RWE Dea has been awarded a new onshore concession named Tanta with a 100% working interest located partly in the prolific Nile Delta Area.

Exploration well Sidi Rahman-1X in Egypt successfully tested

• Wednesday, 29th November 2006
• by Egypt Oil & Gas

Exploration well Sidi Rahman-1X drilled by RWE Dea (50%) and INA (50%, operator) in the East Yidma concession tested successfully oil.