ENERGY-

Energean gears up to announce Orion results: LSE-listed oil and gas company Energean will announce the results of exploratory drilling at its Orion X1 well “in the next two to three weeks,” the company’s CEO Mathios Rigas told Asharq Business (watch, runtime: 2:38). The well, which could turn out to be “a big discovery,” is expected to cost between USD 140-150 mn to develop, Rigas added.

Orion X1: Drilling at the East Mediterranean well, which is projected to hold c. 10 tn cubic feetof natural gas, reportedly began last fall. The exploration rights are owned by Eni, Energean, BP, and Adnoc, Rigas said.

LOGISTICS-

Egypt to establish Tanzania-Rwanda logistics corridor: The Transport Ministry is planning to set up a logistics corridor connecting Tanzania and Rwanda in a bid to facilitate the flow of Egyptian exports to Africa, according to a ministrystatement. The corridor will run from Dar es Salaam port in Tanzania and pass through a logistics zone and dry port, before reaching another logistics zone and dry port in Rwanda.

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