Aquaterra Sea Swift platform installed and operating in Egypt - WORLD OIL

JUNE/5/2017

ABERDEEN -- Aquaterra Energy, a leading global offshore engineering solutions provider, has designed, fabricated and installed a new Sea Swift platform for PICO Petroleum Integrated Services, the lead contractor for Amal Petroleum Company’s (AMAPETCO) Amal field in the Gulf of Suez, offshore Egypt. This will open new opportunities for future cooperation between the two entities in large projects both in Egypt and the Middle East.

The Sea Swift is a Conductor Supported Platform (CSP) and is installed in 23-m water depth. It included a 385 tonne topside featuring a helideck and emergency accommodation with provision for six wells. The new topsides facility for the Amal-C platform involved designing process, piping, electrical, instrumentation, control system and technical safety scopes of work, the project also included the design of the new subsea production pipelines to the Amal-A platform. The project, which took 18 months from design to installation, involved building a bridge link to the neighbouring Amal-B platform and reconfiguring the topside pipework to create a new and improved production profile.

PICO’s Cheiron Egypt acquires West El Burullus gas concession from Engie - ENTERPRISE

Tuesday, 9 May 2017

PICO Group subsidiary Cheiron Egypt has acquired 100% of Engie’s West El Burullus (WEB) gas concession in a transaction announced yesterday. WEB is located in shallow offshore Mediterranean waters with recoverable reserves of c.200 bcf gas and 3 mn bbl of condensates. 

BNP Paribas, financial advisor on the transaction, said in an emailed statement that “WEB is targeting plateau production of 100 mcf/d with first gas in 2020.” The transaction, it said, supports Engie’s “global strategy to exit E&P sector and focus on renewable energies,” while PICO will diversify its “Egyptian E&P asset base into new geological basins with higher gas component. BNP Paribas invited more than 50 bidders to take part in the process, with more than 10 signing confidentiality agreements. The transaction value has not been released. PICO, which controls assets in Egypt, Romania and Mexico, is owned by the Diab family of Cairo.

EGPC grants SDX Energy, PICO preliminary approval to extend drilling in South Ramadan concession - ENERGY EGYPT / ENTERPRISE PRESS

November 1, 2016

EGPC gave SDX Energy and PICO Petroleum preliminary approvals to extend drilling operations at the South Ramadan concession, SDX Energy’s country director Ahmed Moaz told Al Mal.

The preliminary agreement does not specify a date for the extension and includes the operators spending USD 23 mn in the project.

Moaz says the operators have not received a formal approval agreement yet, but says they are willing to agree to extending the drilling period terms even if they are just to July 2017, even though they have asked for it to be extended to July 2018.

Petroleum marine services provider PMS wins 4 bids in Egypt - AMWAL ALGHAD / ZAWYA

By Mahmoud Shaaban, 13 March 2016

Egypt-based Petroleum Marine Services Company (PMS) won executing four large projects including the expansion project of the third basin in Ain Sukhna port for Armed Forces Engineering Authority.

Chairman El-Sayed El-Badawi stated Sunday that PMS is to execute the developmental project of platform Amal C for PICO International Petroleum (PIP), Egypt's largest private sector oil and gas company.

The third project is establishing shipping services for propylene and polypropylene for the Egyptian Propylene and Polypropylene Company (EPPC).

El-Badawi stated that PMS also won the developmental project of HH and NAO fields of the General Petroleum Company (GPC).