Sunday, 18th October 2020
H.E. Eng. Tarek El Molla, Minister of Petroleum and Mineral Resources, asserted the importance of developing brownfields, referring to several revival strategies that were used in Egypt. The minister remarks came during Egypt Oil & Gas (EOG) Committee’s virtual roundtable titled ‘Increasing Investments in Egypt’s Brownfields Opportunities’ on Sunday, October 18.
Tuesday, 18th February 2020
Dragon Oil is planning to increase its investments in Egypt through acquiring some operating assets in the Western Desert in the next five years.
Monday, 13th January 2020
The Minister of the Petroleum and Mineral Resources, Tarek El Molla has witnessed the acquisition agreement ceremony of Dragon Company to the share of BP Company in a GUPCO concession costing $ 500 billion.
Monday, 21st October 2019
Dragon Oil, the fully owned exploration and production (E&P) platform of Emirates National Oil Company (ENOC), announced that it has acquired the stake of BP at the Gulf of Suez Oil Company (GUPCO) after obtaining the approval from the Egyptian Ministry of Petroleum and Mineral Resources.
Monday, 3rd June 2019
Dragon Oil has reached a full agreement with BP for the acquisition and the deal is expected to be completed after obtaining the Egyptian Ministry of Petroleum’s approval in H2 2019 following the necessary procedures.
Sunday, 2nd June 2019
The $600 million transaction is a part of Dragon Oil's $13 billion expansion plans, of which $500 million are allocated for acquisition transactions in 2019.
Monday, 27th May 2019
The Ministry of Petroleum will issue the approvals after Dragon Oil confirms its commitment to the new terms of agreement with BP in GUPCO's concessions.
Thursday, 23rd May 2019
The transaction is set to take place in the coming weeks and would be the end of BP's 50 years journey in the Gulf of Suez Petroleum Company (GUPCO).
Thursday, 11th April 2019
The newly acquired asset will add around 70,000 barrels per day (b/d) to the company’s production as it has the potential to produce 100,000 b/d.
Sunday, 14th October 2018
The upstream investment arm of Dubai state-owned ENOC, Dragon Oil, plans to invest $500 million in oil and gas assets next year, chief executive Ali Rashid al-Jarwan said.