House signs off on eight oil and gas exploration agreements - ENTERPRISE / AL MAL

Wednesday, 20 November 2019

The House of Representatives approved on Sunday eight oil and gas exploration agreements, Al Mal reported. 

Most of the licenses awarded were for oil concessions: Neptune Energy got the go ahead for exploration and production in the Gulf of Suez, Shell received a license for three areas in the Western Desert, Merlon El Fayum will explore in West Fayoum, and Pacific Oil and Ganope will take Ras El Ush in the Gulf of Suez. 

Eni’s joint venture IEOC, meanwhile, received a gas license to explore in the South East Siwa and West Razek concessions.

Energean to Buy EDF Oil & Gas Assets for Up to $850 Million - BLOOMBERG

July 4, 2019, 2:55 PM GMT+3

Yaacov Benmeleh and Francois De Beaupuy

• Deal opens up access to areas in North Africa, Italy, Croatia
• Transaction is company’s first major acquisition since listing

Energean Oil & Gas Plc agreed to buy the oil and gas business of Electricite de France SA’s Italian unit for as much as $850 million, a deal that will substantially broaden the Greek company’s geographic footprint.

Energean will pay $750 million upfront for operational assets in Egypt, Italy, Algeria, the North Sea and Croatia, according to a statement on the Tel Aviv Stock Exchange, one of two bourses where its stock trades. It’s Energean’s first major acquisition since listing in London last year, and will significantly expand its production and revenue streams.

The Greek company is also acquiring assets under development in Egypt, Italy and Norway. It may pay an additional $100 million following first gas from the Cassiopea development off Italy.

Greece’s Energean Bids for EDF Oil & Gas AssetsBy - BLOOMBERG

June 13, 2019, 4:41 PM GMT+3Dinesh Nair and Yaacov Benmeleh

• EDF has been seeking a sale to focus on nuclear projects
• Some other potential suitors have dropped out of bidding

Energean Oil & Gas Plc, the Greek energy producer that sold shares in London last year, is bidding for the oil and gas business of Electricite de France SA’s Italian unit, people familiar with the matter said.

Energean has submitted a final offer for Edison SpA’s exploration and production assets, the people said, asking not to be identified as the matter is private. Some other suitors have dropped out of the process, the people said, asking not to be identified because the information is private.

The business had earlier attracted initial interest from potential bidders including Neptune Energy and Warburg Pincus’s Apex International Energy, Bloomberg News reported in January. Other competitors including Wintershall Dea GmbH, an arm of Mikhail Fridman’s L1 Energy, could also look at the business, people with knowledge of the matter said at the time.

Winners for Egyptian oil and gas exploration round announced - ZAWYA

14 FEBRUARY, 2019Marwa Abo Almajd

Shell, ExxonMobil, BP, Petronas and IEOC among the firms to secure exploration rights in 12 concessions

The head of the Egyptian General Petroleum Corporation announced the winners of 12 new concessions at an event in Cairo on Tuesday, stating that $750 million to $800 million worth of investments would be made.

The General Petroleum Company (GPC) won a $5 million tender to explore in the West Amer sector, allowing it to drill 10 new wells, involving a total investment of $20 million.

Neptune Energy Egypt won an $11 million concession for the drilling of three wells and a financial commitment of $ 34.5 million. Merlon Petroleum won a $3.2 million tender to drill eight wells and an investment of $36 million.

Shell Egypt won three separate concessions. The first is a $27 million tender in the West Fayoum field, involving the drilling of six wells, the second is a $23 million tender to dig five wells south-east of Horus and the third is a $1 million tender to drill three wells in South Abu Sinan. Combined, the tenders involve a capital commitment to invest $57 million.

Neptune Energy, DEA bid for Edison's oil and gas assets - sources - REUTERS

JANUARY 25, 2019 / 4:18 PM

By Shadia Nasralla, Ron Bousso and Clara Denina

LONDON, Jan 25 (Reuters) - Private-equity backed Neptune Energy and Germany’s DEA are bidding for the oil and gas assets in Egypt, Italy and elsewhere being sold by EDF’s Italian unit Edison, industry sources said on Friday.