Circle Oil's financial position remains "under significant pressure" and needs sustained improvement in payments from Egypt's state-owned oil company to shore up its cash position.
SDX Energy, an Egypt focused exploration company, said it hopes to raise $11million via a private placement and is to float on the London Alternative Investments Market.
An oil worker who took a picture with the EgyptAir hijacker has been caught on film snatching a phone from a camerwoman.
OneSubsea, the Cameron-Schlumberger company, has been awarded a contract from BP and partner DEA, to supply subsea production systems offshore Egypt in the West Nile Delta.
SacOil has hit its initial production target for the Lagia field onshore Egypt and has completed the phase two development programme on the project.
Subsea 7 has been awarded a contract by BP, and partner DEA for the development of the Giza, Fayoum and Raven subsea fields offshore Alexandria, Egypt.
The Egyptian government has given the go ahead to Eni for the development of the Zohr gas field, in the Shorouk Concession, offshore Egypt.
The Egyptian oil and gas market could be an attractive market for North Sea companies looking to expand their business.
Chinese President Xi Jinping is set to visit Saudi Arabia, Egypt and Iran later this month.
Growth in the LNG market is not likely to happen until next year, according to new research on the current marketplace. Wood Mackenzie’s latest review of the global LNG industry found the market was characterised by weak Asian demand last year, with a year on year decline of 2%. Many LNG players are said to have shifted their focus from developing markets and have been employing new regasification capacity as a result.
Israel's government has given the go-ahead to begin exporting natural gas to Egypt in a move which could signal an improvement in relations between the two countries. The country will be able to sell five billion cubic metres of gas to Egypt over the course of the next seven years from the Tamar site off its Mediterranean coast.
South African oil firm SacOil, said transition into a production company remained its priority as it announced it half-year results, revealing a drop in profit, due largely to increased operating costs.
BG Group has taken a 35% holding in Block 12 offshore Cyprus which includes the Aphrodite gas discovery.
An agreement has been signed between Egypt and Russia for its to build a nuclear plant in the African country. Russia will also extend a loan to Egypt to cover the cost of the construction.
SacOil has successfully drilled the first of five wells for its onshore Egypt campaign.
Oil major BP said it plans to start production from a new natural gas discovery in Egypt in 2018. The company said it also aims to double its production from the country by the end of the decade. The Atoll offshore field will be developed with two initial wells connected to existing infrastructure.
Subsea 7 has won a contract from to deliver umbilicals and pipeline installation to a project in Egypt.
Shrewd acquisitions and a willingness to take a fresh look at established assets is paying dividends for oil junior Nostra Terra and its chief executive Matt Lofgran.
Nostra Terra Oil & Gas and its joint venture partner Independent Resources have snapped up their first acquisition in North Africa. An agreement has been reached with Transglobe Energy for the acquisition by of a 50% share in the East Ghazalat concession for $3.5million.
Rockhopper Exploration saw its bid to acquire production and exploration assets in Egypt denied after a joint venture party exercised its right of pre-emption.
Shares of the natural-gas exploring units of Delek Group Ltd. plunged the most in 14 years in high volume on concern the discovery of the Mediterranean’s largest field off the coast of Egypt will curtail their exports. Delek Drilling LP and Avner Oil Exploration LLP, partners in the Leviathan field, declined the most since 2001 in above- average trading volumes at the close in Tel Aviv after Eni SpA discovered the “super giant” field that it says may hold 30 trillion cubic feet of gas, enough to contribute to Egyptian supply for decades. Delek Group dropped 12 percent, the biggest loss since Dec. 23. Ratio Oil Exploration 1992 LP fell 23 percent. The companies are jointly drilling Leviathan, Israel’s largest offshore field, with Houston-based Noble Energy Inc.
Italian energy group Eni is open to selling a stake in its mega gas discovery in Egypt, as it has done for another gas field in Mozambique, its chief executive said in a newspaper interview published on Monday.
It is the first such killing of a foreign captive in Egypt since the extremists set up a branch here. The killing of the 30-year-old oil and gas sector surveyor likely will rattle companies with expatriate workers in Egypt and cast a cloud over President Abdel-Fattah el-Sissi’s attempts to boost international investment to revive the economy, battered by years of turmoil. The still image, shared by IS sympathisers on social media, appeared to show the body of Tomislav Salopek, a married, father of two, wearing a beige jumpsuit looking like the one he had worn in a previous video. A black flag used by IS and a knife were planted in the sand next to him.
Rockhopper Exploration has agreed on an asset purchase deal with Beach Energy that will give it a number of assets in Egypt in a $22million deal. The move will see the company gain a 22% interest in the Abu Sennan concession and a 25% interest in the El Qa’a Plain concession. Rockhopper said the headline consideration for the deal is $22million payable to Beach Energy through a combination of cash and the issue of the Rockhopper consideration shares.
Subsea 7 has been awarded a $500million contract by BP, and partner DEA, for the West Nile Delta project in Egypt.