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.

Blue Water Energy LLP to partner with Apex International Energy - BLUE WATER ENERGY LLP

Houston, 22 October 2018

Apex International Energy, an independent oil and gas exploration and production company focused on Egypt and other Middle Eastern and North African countries (“MENA”), today announced that affiliates of Blue Water Energy LLP (BWE or Blue Water Energy) have agreed to partner with Apex and join the existing investors: Warburg Pincus LLC, International Finance Corporation (IFC) and company management.

Apex is primarily focused on pursuing acquisitions and drilling opportunities in MENA, with an initial focus on Egypt. The Company will continue to acquire assets and licenses, whilst driving value creation through the execution of production optimization opportunities, developments and exploration opportunities of scale. Blue Water Energy, Warburg Pincus LLC and the IFC are jointly providing funding to support Apex’s investment program, including drilling, asset acquisitions and corporate transactions.

Government approves 4 oil, gas agreements worth $230M - EGYPT TODAY

Thu, Dec. 28, 2017

CAIRO – "The Egyptian government approved in its Thursday meeting four new oil and gas exploration agreements worth $230 million," Minister of Petroleum Tarek el-Molla announced.

Two of the four agreements are related to the Egyptian General Petroleum Corporation (EGPC) for exploration in the Red Sea and Western Desert areas, while the other two are related to South Valley Petroleum Holding Company (Ganope).

"The agreements include drilling 17 new wells," Molla added in a cabinet press conference.

EGPC chairman Abed Ezz el-Regal announced in September that EGPC will hold a new auction for oil and gas exploration before the end of 2017.

In August, Molla signed three new oil and gas exploration agreements in the Western Desert with a total value of $81.4 million in investments.

The agreements were signed between the EGPC, Royal Dutch Shell and Apex to drill 16 new wells using $23.2 million.

EGPC signs 3 oil and gas exploration agreements worth USD 50 mn - ENTERPRISE / AL BORSA

Sunday, 10 December 2017

The EGPC has signed oil and gas exploration agreements with three international companies worth a combined USD 50 mn, an Oil Ministry official tells Al Borsa. These include a USD 20 mn oil and gas exploration agreement with our friends at Apex International in the West Badr El Din concession in the Western Desert, a USD 10 mn gas exploration agreement with Trident Petroleum for exploration in the Magawish block of the East Esh El Mallaha concession, and a USD 20 mn oil and gas exploration agreement with Apache-Khalda in the Alam El Shawish concession in the Western Desert.

El-Molla directs EGPC, Ganope, EGAS to intensify oil exploration - DAILY NEWS EGYPT

1 October 2017

Mohamed Adel

Minister of Petroleum Tarek El-Molla directed the Egyptian General Petroleum Corporation (EGPC), South Valley Egyptian Petroleum Holding Company (Ganope), and the Egyptian Natural Gas Holding Company (EGAS) to focus on offering areas for research and drilling for oil in the coming tenders, as to increase production rates and curb reliance on imports.

A source in the sector told Daily News Egypt that EGPC has been tasked with collecting data and information about the untapped concession areas in the Western Desert and the Gulf of Suez.

He explained that Egypt needs to increase crude oil output, having been fixed for several years at an average of 650,000-700,000 barrels, against a growing demand.

Is Egyptian Oil Set For A Rebound? - OILPRICE.com

Sep 03, 2017, 4:00 PM CDTHaley Zaremba

This week Egypt signed three major exploration deals with oil giants Royal Dutch Shell and Apex worth at least $81.4 million. The hefty international contracts will kickstart a large-scale oil and gas exploration in 16 new fields in the oil-rich Western Desert.

In a statement released by the Petroleum Ministry, it was announced that Shell will be investing $35.5 million in a single deal, while U.S.-based Apex has signed two different deals totalling $45.9 million, a hefty investment for their first ever projects in Egypt. The deals collectively encompass a massive 1.7 million acres, comprised of the areas of West Badr el Din and South East Meleiha.

While Egypt was once a major player in the global oil supply, their production has fallen sharply over the last years as demand has increased, putting them in the unfortunate position of being a net importer after years of being an energy exporter. Now, after the last few years of political turmoil, the government is making effort to get back on its feet. These deals with Shell and Apex are just the latest in an aggressive government campaign to bring foreign investment and exploration back onto Egyptian soil.

Egypt signs oil and gas exploration deals with Shell, Apex - REUTERS

AUGUST 29, 2017 / 1:09 PM

CAIRO (Reuters) - Egyptian Oil Minister Tarek El Molla has signed three oil and gas exploration deals for 16 new fields in the Western Desert worth at least $81.4 million in total with Royal Dutch Shell and the U.S.-based Apex International Energy.

The Petroleum Ministry said in a statement that the first deal would see Shell invest $35.5 million, and the other two would see Apex, which is operating in Egypt for the first time, invest a combined $45.9 million on two projects.

Apache, APEX, Shell Awarded 5 Concessions in EGPC Tender - EGYPT OIL & GAS

Monday, 14th August 2017

The Egyptian General Petroleum Corporation (EGPC) has awarded five concessions in the Western Desert for exploration and production to US Apache, APEX International Energy, and Royal Dutch Shell, an official at EGPC told Egypt Oil & Gas.

The Egyptian Cabinet and Parliament approved the contracts; however, the official announcement and final signing ceremony is yet to be made.

EGPC had announced the international tender in 2016 to explore for oil and natural gas in concession areas in the Gulf of Suez and Western Desert.

Players’ healthy interest outside Egypt’s Nile Delta - ENERGY EGYPT / UPSTREAM ONLINE

February 11, 2017

Future upstream licensing in Egypt’s Nile Delta offshore province may be facing a hiatus, but the most recent round to have been completed by state-owned Egyptian General Petroleum Corporation signalled healthy interest by players in other acreages.

Smaller, cash-strapped players were not much in evidence during the 2016 round, covering acreage in the Gulf of Suez and Western Desert, but US player Apache, a stalwart in the latter play, Anglo-Dutch supermajor Shell and its UK counterpart BP all took on acreage.

Apache won the North-West Razzak and South Alam El Shawish blocks in the Western Desert, where it is the dominant oil producer, while in the same region Shell picked up North Umbaraka.

BP took on North-East Ramadan in the mature Gulf of Suez, where it has long been dominant.

One newcomer in the round was US private equity-backed Apex International Energy, which won South-East Meleiha and West Badr El Din in the Western Desert.

Egyptian state gas operator EGAS, on the other hand, missed a bid round last year.

Its most recent tender in 2015, carried out before the Zohr discovery, was regarded as disappointing by some as it saw only four out of the 12 blocks on offer taken up.

However, any disappointment was tempered by the fact that the acreage awarded was taken on by major European companies, including a significant newcomer.

France’s Total made its debut in Egypt by earning a share in the North El Hammad block in partnership with BP and Eni, while the latter two also took on North Ras El Esh and BP went solo at North El Tabya.

The final block, Northeast Hapy, was secured by Edison of Italy.

SOURCE/Upstream Online

Egypt accepts six bids for oil and gas exploration - REUTERS

Fri Dec 2, 2016 | 9:16am ESTReporting by Ehab Farouk; writing by Amina Ismail; editing by Susan Thomas

Egypt has accepted six bids for oil and gas exploration worth a total investment of up to $200 million, the Ministry of Petroleum said on Friday.

In May, the General Authority for Petroleum announced an international tender for 11 oil and natural gas blocks in the Western Desert and Gulf of Suez as Egypt looks to boost oil and gas production to meet growing energy demand.

Royal Dutch Shell, BP, Apache Corp and Apex International Energy are among the companies involved, the ministry said in a statement.

It said BP would invest at least $46 million, Apache at least $60.6 million and Shell at least $35.5 million.

Apex International Energy awarded first blocks in Egypt - APEX INTERNATIONAL ENERGY

December 2, 2016
Minimum investment in two concessions of $27.4 million in first exploration phase
Cairo, Egypt and Houston, Texas (December 2, 2016)— Apex International Energy, an independent oil and gas exploration and production company focused on Egypt, is pleased to announce that it has been awarded Blocks 8 and 9 by the Egyptian General Petroleum Company (EGPC) from their 2016 Bid Round.

Block 8 and 9 are both located within the prolific Abu Gharadig Basin in Egypt’s Western Desert and cover 6,714 square kilometers (2,592 square miles or 1.7 million acres) in total.
Specific details are below: