Egypt plans to launch two new bids for oil and gas exploration in over 16 regions in the country’s south and the Red Sea by the end of 2023, according to media reports. Egypt extended the closing date for two previous bids to mid-July earlier this year, allowing more time for companies interested in exploring […]
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Egypt, Jordan sign major gas infrastructure deal
Egypt has signed a comprehensive deal with Jordan that grants it access to the LNG floating storage regasification unit (FSRU) stationed at Sheikh Sabah port in Aqaba, according to a statement. The primary objective of the agreement is to maximise the resources of both countries with enhanced efficiency and reduced costs, the statement from Egypt’s […]
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Egypt awards $300 million EPC contract for fertilizer plant
A consortium of Tecnimont and Orascom Construction has been awarded a lump sum turn-key Engineering, Procurement and Construction contract for a Nitric Acid and Ammonium Nitrate plant by KIMA, Egyptian Chemical Industries Co. The contract value to the consortium is approximately $300 million, of which about $220 million pertaining to Tecnimont. The finalization of the […]
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ExxonMobil to expand upstream investments in Egypt
Chairman and Managing Director of ExxonMobil Egypt, Amr Abou Eita, said the supermajor plans to expand its upstream exploration in Egypt while growing Mobil service stations network across the country. Eita added: “Additionally, we are interested in evaluating low-carbon solutions opportunities. The recent relocation to a state-of-the-art new head office is a reflection of a […]
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Egypt and Saudi Arabia set to launch $1.8 billion electrical interconnection project
The Egypt–Saudi Arabia electrical interconnection project valued at $1.8 billion is set to undergo testing next month ahead of its trial operation scheduled for next year. The project is the first large-scale high-voltage direct current (HVDC) interconnection in the MENA region, including three substations connected via overhead power transmission lines of 1,350 kilometers (km) in […]
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UAE’s Masdar to build the world’s largest $10 billion wind farm in Egypt
Abu Dhabi Future Energy Co, also known as Masdar, along with Infinity Power, Africa’s largest renewable energy developer, and Hassan Allam Utilities, a sustainable infrastructure focused investment platform, signed an agreement with Egypt’s New and Renewable Energy Authority to secure land to build a 10-gigawatt (GW) capacity onshore wind farm in Egypt, set to be […]
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UAE’s Dana Gas eyes $100 million investment to drill new wells in Egypt
Dana Gas, a prominent UAE-based company, is set to commence drilling operations on 11 new wells in Egypt this year with an investment of around $100 million, a senior company official has revealed. The investment is expected to contribute approximately 80 billion cubic feet of reserves and production, said Mohammed Mubaideen, the company’s head of […]
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ADNOC, ENOC in bidding race for Egypt’s Wataniya
UAE and Saudi based companies have reportedly expressed interest in acquiring substantial stakes, ranging from 20% to 25%, in two Egyptian state-owned enterprises. The Egyptian companies on offer are the National Company for the Sale and Distribution of Petroleum Products, known as “Wataniya,” and the National Company for Natural Water Bottling, known as “Safi.” Among […]
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Egypt seeks stake sale in $6.5 billion Siemens power stations
Selling stakes in the power stations is subject to the approval of German banks
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EPC contractor Petrojet signs agreement for green hydrogen projects in Egypt
Egypt-headquartered EPC contractor Petrojet has signed an agreement with DNV, a global independent energy expert, to support green hydrogen projects in Egypt. The deal aims to scope areas in which DNV can support Petrojet with its technical expertise in design verification and project assurance, as Petrojet is seeking a leading role as a green hydrogen […]