investment | Egypt Oil & Gas - Part 19

Ministry of Electricity: No Usage of EPC+ Financing

The ministry of electricity has ceased the negotiations conducted on implementing projects on EPC+ finance basis, reported Al Mal.

Sea Dragon Energy to Merge with Madison PetroGas

Sea Dragon announced a merger deal with Madison PetroGas. The purpose of the merger is to create a stronger company, which will be renamed SDX Energy.

Crescent Group to Invest $300m in Egypt

The Crescent Group, locally represented through Dana Gas, plans to invest $300m in gas exploration and excavation projects in Egypt, reported Al Mal.

Egypt Gas Company Records Losses of EGP 48.6m

State owned Egypt Gas company, an affiliate of the Egyptian Natural Gas Holding Company (EGAS), recorded losses of EGP 48.6m ($6.2m) during the first 6 months of 2015, in comparison to the recorded profits of EGP 25. ...

EDEPC to Invest $125m in Upgrading its Stations

East Delta Electricity Production Company (EDEPC) is working on obtaining a loan worth $125m, which will be used to upgrade the company's power stations.

Sisi: Egypt is Committed to Paying Off Debt to IOCs

Egyptian President Abdel Fattah al-Sisi said that his government is "committed" to paying up debts to oil and gas companies "operating on its soil," reported Aswat Masreya.

Rockhopper Exploration Buys Beach Petroleum Egypt

Beach Energy announced the sale of its subsidiary in Egypt "Beach petroleum" to Rockhopper Exploration, reported Oil voice.

Egypt to Reduce its Debt to IOCs to $2.9bn

Sherif Ismail, Egypt’s Petroleum Minister announced the country’s plan to reduce its debt to foreign oil companies to $2.9 billion from $3.5 billion by the end of August, with a plan to repay the rest by the end of 2 ...

EGPC: New Petroleum Projects Exceeding EGP2.6 Bn

EGPC sources revealed to Al-Mal newspaper that six new investment projects were now on the table to develop a network for transporting petroleum derivatives and fuel all over the country at an expected cost of more t ...

Ministry of Petroleum: Egypt to Sign 9 Agreements Worth $2.2bn

Nine petroleum agreements of about $2.2 billion will be finalized soon, according to a Ministry of Petroleum. The nine agreements include an agreement with the Tunisian HBS international oil company with investments ...

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