Eni attempts USD 20 mn quick fix to partially recover Zohr output

Italian energy giant Eni is deploying USD 20 mn in technical fixes to restore a fraction of the Zohr gas field’s lost production capacity, the Arabic press reports, citing an unnamed government official. The intervention aims to isolate water flows in two wells, which is expected to add some 120 mmcf/d of natural gas and 160 bbl / d of condensates to the Mediterranean field’s output by June.

Why it matters: Zohr — which accounts for roughly 30% of the country’s total natural gas output — has seen its production slide to around 1.2 bcf/d from a 2019 peak of 3.2 bcf/d. National production dragged to under 4 bcf/d against summer demand of 7 bcf/d, forcing a costly import squeeze. The fix is modest, but fits into a broader push to add an additional 1 bcf/d to domestic production by year-end — part of a larger target to reach 6.2 bcf/d by 2027.

A fresh water venture

Orascom Construction and Alpha Dhabi Holding subsidiary Trojan Construction Holding are teaming up to launch Everwater for Treatment Systems, a new Abu Dhabi-based company targeting large-scale water infrastructure projects across the region, according to a press release (pdf). The 50:50 venture will provide EPC and operation and maintenance services, with a 300k cbm/d desalination plant already in final negotiations.

BACKGROUND- Orascom has a roster of major water infrastructure projects under development in the region, including a USD 5.8 bn desalination plant in Jordan. It is also part of a consortium with Adnoc and Taqa which will develop a USD 2.4 bn large-scale seawater treatment project in Abu Dhabi — with an expected 520k cbm/d capacity once completed.

Sky Ports steps up for stalled project

The General Authority for Land and Dry Ports signed an MoU with local logistics provider Sky Ports to finance, build, and operate a dry port and logistics zone in New Borg El Arab, according to a Transport Ministry statement. The project is expected to handle some 120k containers annually — hauling about 6.7 mn tons of dry goods.

BACKGROUND- This is the latest move in a long string of attempts to get the project off the ground. The government has been courting developers since 2020, with proposals from Korea’s CGN, a consortium led by Alpha Capital, and GCC-based Al Ahmadiah Contracting all previously on the table, alongside a stalled 2023 agreement with Ocean Express Shipping.

Why it matters: The project is central to the government’s goal to roll out 33 dry ports nationwide and ease container bottlenecks at marine ports.

Elsewedy Electric wants to expand its footprint in Algeria

Elsewedy Electric is looking to invest an additional USD 1.3 bn in Algeria, which would go into the country’s industry, housing, tourism, and agriculture sectors, the firm’s Algeria General Manager Mostafa Elhalawani told the Arabic Press. The investments are awaiting the green light from the country’s state institutions, Elhalawani said.

The company is currently acquiring land to launch projects valued at USD 2.5 bn, spanning water treatment, agriculture, irrigation, sanitation, and aluminum, Elhalawani said. We first heard of the investment target back in September after the company inked an agreement with the Algerian Agency for Investment Promotion on cooperation on industrial projects and expanding investments.

Elsewedy Electric is already well-established in Algeria, where it operates local factories producing cables, accessories, and transformers for both the domestic market and export to Europe and Africa.

Valmore Holding sees bottom line rise in 1Q

Valmore Holding — formerly Egypt Kuwait Holding — saw its net income from continued operations rise 15% y-o-y to USD 41.6 mn in 1Q 2026, according to its latest earnings release (pdf). Revenues for the three-month period were “broadly stable” at USD 166 mn, while hard-currency revenues — which make up more than half of consolidated top line — reached USD 87 mn.

Behind the numbers: The group’s energy and utilities arm NatEnergy saw its highest quarterly connections recorded in the last 10 quarters, while fertilizer player AlexFert saw gains on the back of rising urea prices. Chemicals manufacturer Sprea also saw margin expansion despite Gulf export hurdles.