BP laying groundwork offshore Egypt
Danish engineering company Subsea 7 said it was awarded a contract to help BP develop three gas fields, including laying export lines, off the coast of Egypt. For an undisclosed Continue Reading
Eni cleared to develop Zohr gas basin in Egypt
talian energy company Eni said it received consent from the Egyptian government to lay the groundwork for developing a giant offshore gas basin. Eni said received word from the Egyptian Continue Reading
Egypt Said to Get $20 Billion of Oil Products From Saudi Arabia
Egypt will get about $20 billion in oil products from Saudi Arabia over five years, a government official said, marking the kingdom’s latest display of support for its struggling North Continue Reading
Stuck at sea, BP’s LNG shipment highlights Egypt’s payment struggle
BP’s diversion of a tanker of liquefied natural gas (LNG) away from Egypt due to payment issues is the first sign that the country’s currency crisis could be jeopardizing its Continue Reading
Egypt, Ethiopia, Sudan: Governments Sign Agreement Over Dam
Leaders from Egypt, Ethiopia and Sudan have signed an agreement designed to assuage Egyptian worries over the construction of the Grand Ethiopian Renaissance Dam, Egyptian Streets reported Dec. 29. Egypt Continue Reading
Israel approves natural gas exports to Egypt
Dec 24 Israel’s government has given the go ahead to begin exporting natural gas to Egypt, signalling a potential improvement in relations between two countries which have been at loggerheads Continue Reading
Israeli companies keen on Egyptian gas deal
Companies working in the Israel energy sector said they’re still pursing commercial deals in Egypt despite reports of a breakdown in talks. Egyptian media outlet Ahram Online reported during the Continue Reading
Egypt’s Dollar Crunch Siphoning Steam From Renewable Energy Plan
Egypt’s foreign-currency crunch has solar developers concerned about financing new power plants. Cairo Solar has lined up a $51 million loan from the International Finance Corp. for a planned 50-megawatt solar farm. Chairman Hisham Tawfik says he’s worried about paying it back because the government has guaranteed payment for the electricity it will produce — in Egyptian pounds. It’s been more than four years since the uprising that toppled President Hosni Mubarak. The political upheaval has scared away outside investors and tourists, and Egypt’s foreign reserves have dwindled to $16.6 billion, less than half 2010 levels. The central bank has imposed restrictions that make Tawfik’s pounds difficult to convert to other currencies. “How can I be happy if I have a lot of Egyptian pounds in the bank and I can’t change them to dollars,” Tawfik, who is also on the board of the Egyptian Renewable Energy Association, said […]
Eni focus on Egypt sharpens
Italian energy company Eni strengthens position in Egypt with two new concessions in the Mediterranean Sea. File photo by Ashraf Mohamad/UPI MILAN, Italy, Oct. 12 (UPI) — Italian energy company Eni said it was building on a legacy position in Mediterranean waters with two new shallow-water concessions offshore Egypt. Eni takes a position alongside British energy company BP and French company Total in the shallow-water Karawan and North Leil blocks off the Egyptian coast. Eni offered no estimate of the reserve potential in the two exploration areas, which combine for 1,280 square miles. The Italian company will serve as the operator of the two basins. "These two new concession agreements follow the recent award of the deep water Karawan and North Leil blocks, strengthening Eni’s presence in Egypt, a country of historic and strategic importance," the Italian company noted. Eni announced a discovery of gas in a deepwater prospect […]
Eni, BP take licenses offshore Egypt in 2015 bid round
Eni SPA and BP PLC have been awarded exploration rights to the 1,927-sq-km Block 4 and 1,389-sq-km Block 7 offshore Egypt following the 2015 Egyptian Natural Gas Holding Co. (Egas) Continue Reading