ENERGY-

#1- BP has completed the drilling of two gas production wells at the Raven natural gas field in its North Alexandria concession, with gas production expected to begin in February, according to an Oil Ministry statement. The firm invested some USD 400 mn on the drilling operations, with the two wells expected to add a combined daily 400 mn cubic feet of gas to its output.

#2- Eni’s planned fixed regasification unit in Damietta will cost USD 190 mn, up from a previous price tag of USD 150 mn that a government official told EnterpriseAM when we first heard of the plan back in August, according to an unnamed Oil Ministry source that spoke to AlBorsa.

HOSPITALITY-

Trial operations of the EGP 15 bn integrated tourist city in South Sinai’s St. Catherine will kick off in April or May, Al Arabiya reports, citing an unnamed source. The trial phase under the Madbouly government’s Great Transfiguration project will see 1k hotel units managed by international hospitality giants Steigenberger and Marriott come online — half of which have already been built and the rest are under construction.

Remember: The cabinet last March announced that Steigenberger inked an agreement with the New Urban Communities Authority to manage and operate an integrated tourist city in St. Catherine. At the time, the Madbouly government also said that it is in talks with other international players to operate other facilities at the site as part of its project to develop the UNESCO-registered area around St. Catherine’s Monastery and Mount Sinai into a site for religious, recreational, and environmental tourism.

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