Abu Dhabi National Oil Company is combining its two largest offshore ventures, the Zakum Development Company (Zadco) and the Abu Dhabi Marine Operating Company (Adma-Opco).
Royal Dutch Shell and UK's BP have submitted bids in a Egypt's petroleum tender with Shell bidding for the Western Desert concession, and BP for the Gulf of Suez.
Egypt signed 3 new petroleum agreements with the Italian Egyptian Oil Company (IEOC), a subsidiary of Eni, and UK's BP. The deals are worth $595m and are for the exploration and production of natural gas and oil.
UK's British Petroleum (BP) aims to boost their gas production in Egypt through enhancements of their concessions in the country in Taurt, Northern Alexandria, West Mediterranean, and Ras Al Bar gas fields.