Egyptian private equity firm Citadel Capital has begun consolidating its businesses after spurts of rapid growth, yet still plans an initial public offering (IPO) of one of its companies, its chairman said.
An Iranian official said on that Tehran has exported its petrochemicals to Egypt, a country with which it has still not restored diplomatic ties broken more than 30 years ago.
Circle Oil Plc, the international oil and gas exploration, development and production company announced the following operational update on its activities in the NW Gemsa Development Lease, onshore Gulf of Suez, Egypt.
El Waha Petroleum Co. (previously known as OWAPCO) successfully guaranteed EGPC approval to adopt the new financial budget to implement the development plan of the current fiscal year 2010-2011 in its acquisition in West Qarun. The total investment of the budget is $10million.
North Bahariya Petroleum Company (NORPETCO) is preparing to conduct pressure measurements for its wells, in order to monitor its tanks and producing wells.
South Africa is set to explore more opportunities in Africa's oil-rich countries, with government planning to use President Jacob Zuma's visit to Egypt later this month to discuss possible future oil deals.
Austria's AE&E Group has won a service contract for the Ataka power station from the Egyptian East Delta Electricity Production Company (EDEPC) for the comprehensive modernization of steam generators 1 and 2 at the power plant.
Egypt plans to launch its first privately owned wind farm in 2013 under an ambitious climate change strategy that includes producing a fifth of its power from renewable energy sources by 2020.