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Egypt warns Turkey against drilling in Cyprus’ economic zone

Egypt warned against intentions of Turkey to begin drilling activities in a maritime area west of Cyprus, according to a Saturday statement issued by Egypt’s Ministry of Foreign Affairs. The statement added that Egypt is following the development, warning against the effects of any unilateral actions on security and stability in the Eastern Mediterranean region. …

Mohamed Samir

RWE injects $300m into its area of concession for FY 2014/2015

Germany’s RWE, a Suez Oil Company (SUCO) partner, has increased investment allocations for the 2014/2015 fiscal year to approximately $300m compared to the previous $218m, according to a company official. The new investments will be utilised to drill new wells and develop others in the Ras Badran, Ras Fanar, and Gabal El-Zeit oil fields in …

Mohamed Adel

Shell to invest $600m in Western Desert operations

By Ahmed Tolba Badr Petroleum Company (Bapetco), a joint venture between the Egyptian General Petroleum Company (EGPC) and petroleum giant Royal Dutch Shell, announced that the latter has decided to invest $600 million in exportation and production operations in its Western Desert concession areas. The endeavor comes in the context of Shell’s exploration plan for …

Daily News Egypt

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