{"id":614275,"date":"2024-01-30T00:00:00","date_gmt":"2024-01-30T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2024\/01\/30\/enap-sipetrol-to-invest-usd-70-mn-on-drilling-wells-in-the-western-desert-plus-news-from-delta-steel-labor-ministry-madinet-masr\/"},"modified":"2024-01-30T00:00:00","modified_gmt":"2024-01-30T00:00:00","slug":"enap-sipetrol-to-invest-usd-70-mn-on-drilling-wells-in-the-western-desert-plus-news-from-delta-steel-labor-ministry-madinet-masr","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2024\/01\/30\/enap-sipetrol-to-invest-usd-70-mn-on-drilling-wells-in-the-western-desert-plus-news-from-delta-steel-labor-ministry-madinet-masr\/","title":{"rendered":"Enap Sipetrol to invest USD 70 mn on drilling wells in the Western Desert. PLUS: News from Delta Steel, Labor Ministry, Madinet Masr"},"content":{"rendered":"<p class=\"tag-border-left\">ENERGY-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Enap Sipetrol has big plans for Egypt:<\/strong> Chile\u2019s Enap Sipetrol plans to invest USD 70 mn this year to drill four development wells and three exploratory wells in its East Ras Qattara concession, located in the Western Desert, according to a <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptMOP\/posts\/pfbid03796sC8RegChDyVyavGYp4L2F6ZBbwWZzyza1bj2HRUYRE82eny9SDSuT3fL87mJPl\" style=\"\" rel=\"noopener\">statement<\/a> from the Oil Ministry. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ICYMI-<\/strong> Enap is well acquainted with the Egyptian market, having been awarded a contract to explore and extract oil from the Gulf of Suez <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ad403632-3faf-439d-a471-1a12127aa34a\" style=\"\" rel=\"noopener\">in September<\/a>, as well as one of eight oil and gas exploration blocks in the <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/c5f11f01-49af-4e27-a91e-3410f499133d\" style=\"\" rel=\"noopener\">beginning of 2022<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">MANUFACTURING-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Chinese firm takes over the operations of Delta Steel\u2019s billet factories:<\/strong> China\u2019s Shengli (Fujian) Investment and Development Company will be in charge of managing and operating state-run Delta Steel\u2019s billet factories, under an agreement signed yesterday with the Metallurgical Industries Holding Company, according to a cabinet <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/story.php?story_fbid=pfbid02wAHgKzL8KLFM7ukosvnoiJ93YRXdD3D21a9FTJNbf8YFYfSECVTh4bKPGyf2PTBil&id=100064812882317&mibextid=cr9u03&paipv=0&eav=AfaLqKi04C0Lzx69jJ5uFIUkDMX4oX4LpgTH2wEL2VmuxEDEeMXpk90-2ta_IgJ96RM&_rdr\" style=\"\" rel=\"noopener\">statement<\/a>. The move comes in a bid to boost the factories\u2019 production to its full capacity of 500k tonnes annually to meet local market needs. The government is reportedly looking to sell up to 40% of Delta Steel and a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/4915563f-21b9-4a89-8e3e-3ebe64b766ad\" style=\"\" rel=\"noopener\">number of local players are interested<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">EMPLOYMENT- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Labor Ministry launches<\/strong><strong>initiative to accredit laborers: <\/strong>Young people working as plumbers, electricians, automobile mechanics, carpenters, and welders can now <a target=\"_blank\" href=\"https:\/\/svp-international.pacc.sa\/home?fbclid=IwAR0LXkY3AbQW3opqvJH8II05__N93AccJ4JsvAVB78YYFpx9_hkJABbodow\" style=\"\" rel=\"noopener\">sign up<\/a> for an examination to gain a five-year accreditation in their profession free of charge, according to a <a target=\"_blank\" href=\"http:\/\/tinyurl.com\/2ckvm65e\" style=\"\" rel=\"noopener\">statement<\/a> from the Labor Ministry. The purpose of the program is to accredit skilled workers so they can work across the region and the world, with a specific focus on the Saudi labor market.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">REAL ESTATE-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Madinet Masr triples contracted sales in 2023: <\/strong>Real estate developer Madinet Masr recorded EGP 35 bn in contracted sales in 2023, up from just over EGP 11 bn in 2022, the EGX-listed company said in a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/1\/2426.pdf\" style=\"\" rel=\"noopener\">press release (pdf)<\/a>. The company attributed the increase in sales to its adoption of a new strategy in the beginning of the year that focuses on \u201cdeveloping its diverse land portfolio,\u201d as well as the launch of new partnerships and projects.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Enap wants to drill four development wells and three exploratory wells in its East Ras Qattara concession<\/p>\n","protected":false},"author":1,"featured_media":614276,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7209],"tags":[111,6681,928,8338,93,72,7203,83,219],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-614275","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-also-on-our-radar","tag-also-on-our-radar","tag-egypt-saudi-relations","tag-employment","tag-enap-sipetrol","tag-energy","tag-enterpriseam","tag-madinet-masr","tag-real-estate","tag-saudi-arabia","wpautop","entry"],"acf":{"mongo_id":"3cf5a18f-2a9f-4bc2-bd8c-332c921f703b","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/1\/2517.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Enap Sipetrol to invest USD 70 mn on drilling wells in Egypt\u2019s WesternDesert","related_issue":[614257],"teaser":"Enap wants to drill four development wells and three exploratory wells in its East Ras Qattara concession","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/1\/.a12c3118-86fa-46fc-8ae2-356d493b45fa.mp3"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Enap Sipetrol to invest USD 70 mn on drilling wells in the Western Desert. PLUS: News from Delta Steel, Labor Ministry, Madinet Masr - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2024\/01\/30\/enap-sipetrol-to-invest-usd-70-mn-on-drilling-wells-in-the-western-desert-plus-news-from-delta-steel-labor-ministry-madinet-masr\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Enap Sipetrol to invest USD 70 mn on drilling wells in the Western Desert. 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Tokman did not provide any details or figures on ENAP Sipetrol\u2019s plans.","rel":"","context":"In &quot;Energy&quot;","block_context":{"text":"Energy","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/energy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":542576,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/01\/04\/bp-eni-among-7-companies-to-land-new-oil-gas-exploration-blocks\/","url_meta":{"origin":614275,"position":1},"title":"BP, Eni among 7 companies to land new oil + gas exploration blocks","author":"enterpriseam admin","date":"4 January 2022","format":false,"excerpt":"Seven international energy companies have been awarded eight of the 24 oil and gas exploration blocks included in the government\u2019s bid round held last year, the Oil Ministry said in a statement yesterday. BP, Eni, Apex International, Energean Egypt, United Energy, Ukraine\u2019s INA Naftaplin, and Chile\u2019s Enap Sipetrol all received\u2026","rel":"","context":"In &quot;Energy&quot;","block_context":{"text":"Energy","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/energy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/1\/43.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":606910,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/09\/24\/oil-min-ups-oil-gas-investment-forecast-this-fiscal-year-plus-adnoc-ifc-x-banque-du-caire-avanz-capital-orascom-investment-egyptair\/","url_meta":{"origin":614275,"position":2},"title":"Oil Min ups oil + gas investment forecast this fiscal year. PLUS: Adnoc, IFC x Banque du Caire, Avanz Capital, Orascom Investment + EgyptAir","author":"enterpriseam admin","date":"24 September 2023","format":false,"excerpt":"The government now expects investment to be up to 60% higher than in the previous fiscal year","rel":"","context":"In &quot;Also on our Radar&quot;","block_context":{"text":"Also on our Radar","link":"https:\/\/enterpriseam.com\/egypt\/category\/also-on-our-radar\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/9\/1404.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":594791,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/09\/08\/enpedco-egpc-ink-agreements-for-western-desert-oil-and-gas-exploration\/","url_meta":{"origin":614275,"position":3},"title":"ENPEDCo, EGPC ink agreements for Western Desert oil and gas exploration","author":"enterpriseam admin","date":"8 September 2019","format":false,"excerpt":"The Egyptian National Petroleum for Exploration and Development Company (ENPEDCo) and the EGPC signed two agreements to explore oil and gas in the Western Desert last week, the Oil Ministry said in a statement (pdf). 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