OIL AND GAS

17 Oct 2017

Egypt relegates to Nov receiving bids for installing coal power plant

Ministry of Electricity and Renewable Energy relegated to next November receiving financial and technical bids due to be submitted by Int'l companies desirous to install a coal-based power plant in the Red Sea's coastal area of Hamraween.

Informed sources told Al-Mal"...

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16 Oct 2017

Developments of Egypt's supergiant gas field Zohr rise to 91%

Developments in Egypt’s supergiant gas field Zohr has risen to around 91 percent, the country’s oil minister Tarek el-Molla said Sunday.

Discovered in 2015 by Italy's"...

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13 Oct 2017

The 2017 World Branding Awards sees 245 Winners from 32 Countries Awarded at Kensington Palace

(AETOS Wire)-- The fourth edition of the prestigious World Branding Awards saw 245 brands from 32 countries named “Brand of the Year” in a glittering ceremony held in the main entrance and Orangery at Kensington Palace today.

Global"...

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12 Oct 2017

Rosneft backs into Zohr gas concession offshore Egypt

Eni has completed the sale of a 30% interest in the deepwater Shorouk concession offshore Egypt to Rosneft. The terms of the sale, agreed last December 2016, include a payment of $1.125 billion and a reimbursement of some investments already made. Eni, via its subsidiary IEOC, now holds a 60% stake in the concession, which includes the Zohr gas field development. Rosneft is represented via its subsidiary Upstream Projects PTE, with BP (10%) the remaining partner. Zohr, thought to be the largest gas field ever found in the Mediterranean Sea, was discovered in August 2015. Production is due to start by the end of this year. offshore ...

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10 Oct 2017

Rosneft buys 30% of gas field off Egypt

Russia's Rosneft said it has completed a deal to acquire a 30% stake in the Zohr field, the largest gas field in the Mediterranean Sea, from Italy's Eni for $1.125b.

Eni will retain a 60% stake in the"...

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10 Oct 2017

Rosneft closes $1.1 bil deal to buy 30% stake in Egypt's Zohr natural gas field from Eni

Russia's Rosneft said Monday it had closed the deal to acquire a 30% stake in the giant Zohr gas field in the Mediterranean Sea from Italy's Eni, in a move aimed to 'strengthen positions of Rosneft in the strategic markets of Europe and Middle East.'

The company"...

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10 Oct 2017

SDX Energy disccovers oil at Rabul 2 Well in Egypt

SDX Energy Inc., the North Africa focused oil and gas company, is pleased to announce that an oil discovery has been made by the Rabul 2 Well in the West Gharib Concession in Egypt (SDX 50% Working Interest & Joint Operator).

The well encountered approximately 101.5 feet"...

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05 Oct 2017

SDX Energy unearths new oil discovery with Egypt well

SDX Energy Inc (LON:SDX, CVE:SDX) has announced a new oil discovery in Egypt, with the Rabul-2 well unearthing heavy crude in the West Gharib concession. Rabul-2 hit some 101.5 feet of net oil pay across the Yusr and Bakr formations, and the company expects the well will be completed as a new producer connected to processing facilities at the Meseda field. It marks the final commitment well for West Gharib, following up the Rabul-1 well which in the summer hit 14.5 feet of heavy oil pay in the Yusr before being competed as a producer.......

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04 Oct 2017

Vallourec, BAPETCO agree to supply tubular solutions to Egyptian gas wells

The French company Vallourec signed a contract with Badr El Din Petroleum Company (BAPETCO), a subsidiary of Shell, to supply tubular solutions (OCTG) to up to 70 gas wells of an onshore project in the Western Desert of Egypt.

The"...

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04 Oct 2017

Derains & Gharavi : Press Release on Behalf of Caratube International Oil Company LLP And Mr. Devincci Hourani

(AETOS Wire)-- The following is a statement from Derains & Gharavi, Caratube and Mr. Hourani’s legal representatives: 'On September 27, 2017, an ICSID Arbitral Tribunal, under auspices of the World Bank, composed of President Prof. Laurent Levy, Prof. Laurent Aynés and Prof. Jacques Salès, rendered the first Award ruling on the merits the Hourani family (including Messrs. Devincci Hourani, Issam Hourani (Khorani) and Kassem Omar)’s numerous claims against Kazakhstan, in favour of Caratube International......

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