Egypt Kuwait Holding’s NSCO begins production from second North Sinai well - ENTERPRISE

Monday, 2 September 2019

Egypt Kuwait Holding’s (EKH) NSCO Investments started production from its second North Sinai natural gas well on 29 August with an output of 20 mcf/d, the company said in a press release.

The new well brings the company’s total production to 75 mcf/d, a 200% increase compared to the first six months of 2019.

The company is now drilling its third well, which it expects to complete during 4Q2019. EKH started production from its first North Sinai well in July.

EKH studies investing USD 110 mn in North Sinai gas fields this year - ENTERPRISE

Tuesday, 27 February 2018

INVESTMENT WATCH- Our friends at Egyptian Kuwait Holdings (EKH) could invest USD 110 mn this year in developing five natural gas wells in North Sinai, the company said in a bourse statement (pdf). 

Four of the wells the company is studying this year will be in the Camus gas field, and one in the Tao field, the company added. 

The investment will be through subsidiary NSCO Investments Limited, in which EKH acquired a 99.99% stake last week. The company announced that NSCO had completed development of two wells in the Tao field recently.

EK Holding sells stake in Egyptian Hydrocarbon to Carbon Holdings - ENTERPRISE

Monday, 16 October 2017

M&A WATCH- An Egypt Kuwait Holding subsidiary sold a 26% stake in Egyptian Hydrocarbon Company to Carbon Holdings, according to a regulatory filing. Carbon Holdings bought the stake for USD 65.2 mn, the disclosure notes without adding further detail. 

A source close to the transaction tells us that EKS will record a capital gain of USD 18 mn on the investment, which it will recognize in its 3Q2017 financials. 

The exit, which we’re told will have no impact on EKH’s recurring revenues or profitability, should help make EK Holding a cleaner investment story going forward.