Newsletter 
  INSCRIPTION Inscription | ESPACE ANNONCEURS Publicité | CONTACT Contact |PLAN DU SITE Plan


Europétrole, le portail de l'industrie du pétrole
 
 accueil | actualité française | actualité internationale | recherche | interviews | focus | actualité par entreprise | actualité pétrole/gaz de schiste 
Partager :

  • BP to divest mature oil assets in Egypt to Dragon Oil
    édité le 04/06/2019 - Plus de news de "BP" - Voir la fiche entreprise de "BP"


BP to divest mature oil assets in Egypt to Dragon Oil
BP has agreed to sell its interests in Gulf of Suez oil concessions in Egypt to Dragon Oil, the Dubai-based oil and gas company. Under the terms of the agreement, Dragon Oil will purchase producing and exploration concessions, including BP’s interest in the Gulf of Suez Petroleum Company (GUPCO). Dragon Oil is a wholly-owned subsidiary of the Emirates National Oil Company (ENOC).

The deal, which is subject to the Egyptian Ministry of Petroleum and Mineral Resources’ approval, is expected to complete during the second half of 2019 and is part of BP’s plan to divest more than $10 billion of assets globally over the next two years. Financial details are not being disclosed.

Bob Dudley, BP chief executive, said:
“Egypt is a core growth and investment region for BP. In the past four years we have invested around $12 billion in Egypt – more than anywhere else in our portfolio – and we plan another $3 billion investment over the next two years. We look forward to continuing to broaden our business here, working closely with the government of Egypt as we develop the country’s abundant resources.”

Bob Dudley, group chief executive said:
"Egypt is a core growth and investment region for BP. In the past four years we have invested around $12 billion in Egypt – more than anywhere else in our portfolio – and we plan another $3 billion investment over the next two years."

Hesham Mekawi, regional president, BP North Africa, added:
“We continue to bring on new developments and deliver important gas supplies for the country. We remain on track to triple our 2016 net production from Egypt by 2020. As we grow our business here, we also keep our portfolio under review. We believe Dragon Oil is well-placed to operate these mature assets, delivering further value for Egypt.”

In the past two years, four new gas projects in Egypt have begun production for BP. In February, BP announced the start of production from the second stage of the West Nile Delta development – which includes five gas fields across the North Alexandria and West Mediterranean Deepwater offshore concession blocks – producing from the Giza and Fayoum fields. The first stage, producing from the Taurus and Libra fields, started up in 2017. The final stage, developing the Raven field, is expected to begin production late this year.

When fully onstream in 2019, combined West Nile Delta production is expected to reach up to 1.4 billion cubic feet per day (bcf/d), equivalent to about 20% of Egypt’s current gas production. All the gas produced will be fed into the national gas grid.

The BP-operated Atoll Phase One gas project began production in early 2018. The Eni-operated Zohr gas field, in which BP is a partner, began production late 2017.

BP currently produces, with its partners, close to 60% of Egypt’s gas production through the joint ventures the Pharaonic Petroleum Company (PhPC) and Petrobel (IEOC JV) in the East Nile Delta as well as through BP’s operated West Nile Delta fields.

BP has also expanded its investment portfolio in Egypt through its Castrol lubricants business. Castrol Egypt Lubricants, a joint venture between Castrol UK and TAQA Arabia, was launched in early 2019 to enhance the availability of Castrol products across the country and ensure service to customers and consumers.

BP is also playing an increasingly active role, helped by Lightsource BP’s joint venture with construction and engineering group Hassam Allam, to unlock opportunities from solar in Egypt.

About BP

BP (NYSE:BP) is one of the world's largest oil and gas companies, serving millions of customers every day in more than 80 countries, and employing nearly 85,000 people. BP's business segments are oil and gas exploration & production, and refining & marketing. In alternative energies, BP has low- and no-carbon wind and biofuels businesses. Through these activities, BP provides fuel for transportation; energy for heat and light; services for motorists; and petrochemicals products for plastics, textiles and food packaging. It has strong positions in many of the world's hydrocarbons basins and strong market positions in key economies.

About Dragon Oil

- Dragon Oil is an upstream oil and gas exploration, development and production company
- Our principal asset is the Cheleken Contract Area, in the eastern section of the Caspian Sea, offshore Turkmenistan
- Exploration assets in Tunisia, Iraq, Afghanistan, Egypt, and Algeria
- The corporate headquarters are in Dubai, UAE


Origine : Communiqué BP

Voir la fiche entreprise de "BP"



Les dernières news de "BP"



Toutes les news de "BP"
  Emploi-Pétrole
 
Rechercher une news



française internationale








 
Les dernières news internationales


>> Toute l'actualité internationale     >> RSS
 
Recherche de news par tags

abu-dhabi adnoc aker-solutions algeria alstom amec anadarko angola apache australia axens azerbaijan baker-hughes barents-sea bechtel bg-group bp brazil canada carburant cbi centrica cgg chevron china cnooc cnpc co2 commission-europeenne compressor conocophillips consommation cpdp deepwater discovery drilling e-on edf egypt emerson engie engineering eni equinor exxonmobil feed flng flowline fluor fluxys fmc foster-wheeler fpso fsru fugro gabon gas gaz gazprom gazprom-neft gdf-suez ge ghana gnl gouvernement gtt gulf-of-mexico hess ifp india indonesia inpex iraq jacobs jgc kazakhstan kbr keppel licence lng lukoil lundin maersk-drilling malaysia mcdermott mozambique natural-gas nigeria nigeria nord-stream north-sea norway novatek offshore oman omv opec pdvsa pemex petoro petrobras petrofac petronas pgnig pipeline platform qatar qatar-petroleum qatargas raffinerie refinery repsol rig riser rosneft russia rwe saipem santos saudi-aramco schlumberger seadrill shah-deniz shale-gas shell siemens sinopec socar sonangol sonatrach south-stream statoil subsea subsea-7 tap technip technipfmc total transocean tullow turbine ufip uk vallourec vessel vopak well wintershall wood-group woodside



Europétrole © 2003 - 2019