{"id":621804,"date":"2024-06-03T00:00:00","date_gmt":"2024-06-03T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2024\/06\/03\/north-petroleum-to-boost-production-from-western-desert-block-plus-news-from-harbour-energy-alfa-trans-mal-bazaar-instapay\/"},"modified":"2024-06-03T00:00:00","modified_gmt":"2024-06-03T00:00:00","slug":"north-petroleum-to-boost-production-from-western-desert-block-plus-news-from-harbour-energy-alfa-trans-mal-bazaar-instapay","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2024\/06\/03\/north-petroleum-to-boost-production-from-western-desert-block-plus-news-from-harbour-energy-alfa-trans-mal-bazaar-instapay\/","title":{"rendered":"North Petroleum to boost production from Western Desert block. PLUS: News from Harbour Energy, Alfa Trans, Mal Bazaar, Instapay"},"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>#1- <\/strong><strong>North Petroleum to boost production from its Western Desert block: <\/strong><a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/company\/north-petroleum-international-company-npic\/?originalSubdomain=eg\" style=\"\" rel=\"noopener\">North<\/a><a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/company\/north-petroleum-international-company-npic\/?originalSubdomain=eg\" style=\"\" rel=\"noopener\">Petroleum<\/a><a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/company\/north-petroleum-international-company-npic\/?originalSubdomain=eg\" style=\"\" rel=\"noopener\">International Company<\/a> (NPIC), the Egyptian arm of China\u2019s Zhen Hua Oil, will invest some USD 78 mn to increase production from its Western Desert\u2019s East Ghazalat concession, <a target=\"_blank\" href=\"https:\/\/almalnews.com\/premium\/%d9%86%d9%88%d8%b1%d8%ab-%d8%a8%d8%aa%d8%b1%d9%88%d9%84%d9%8a%d9%88%d9%85-%d8%aa%d8%aa%d8%b9%d9%87%d8%af-%d8%a8%d8%b6%d8%ae-78-%d9%85%d9%84%d9%8a%d9%88%d9%86-%d8%af%d9%88%d9%84%d8%a7%d8%b1\/\" style=\"\" rel=\"noopener\">Al Mal<\/a> reported. The fresh funds are part of newly-approved amendments to the NPIC\u2019s oil exploration agreement. <\/p>\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- Harbour Energy snaps concessions in the Nile Delta, Mediterranean:<\/strong> UK-based energy firm <a target=\"_blank\" href=\"https:\/\/www.harbourenergy.com\/\" style=\"\" rel=\"noopener\">Harbour Energy<\/a> has acquired Germany\u2019s <a target=\"_blank\" href=\"https:\/\/wintershalldea.com\/en\" style=\"\" rel=\"noopener\">Win<\/a><a target=\"_blank\" href=\"https:\/\/wintershalldea.com\/en\" style=\"\" rel=\"noopener\">tershall Dea<\/a> Egypt concessions in the Nile Delta and the Mediterranean, according to a <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptMOP\/posts\/pfbid02dpkYpiVdn9imy8Y2ZMQEevVCSz8UZbpvoe3EJiwSYu9aoBJ2QKRx1emDdgzjHz97l\" style=\"\" rel=\"noopener\">statement<\/a>. Harbour has been buying the German company\u2019s assets in other countries as well.<\/p>\n<p class=\"tag-border-left\">INFRASTRUCTURE- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Iraq looks at Egyptian contractors to revamp its hospitals:<\/strong> The Iraqi Ministry of Health is holding discussions with Egyptian contractors to take part in revamping 12 hospitals with an estimated cost of USD 480 mn, <a target=\"_blank\" href=\"https:\/\/www.asharqbusiness.com\/article\/64400\/%D8%B4%D8%B1%D9%83%D8%A7%D8%AA-%D9%85%D8%B5%D8%B1%D9%8A%D8%A9-%D8%AA%D8%B3%D8%B9%D9%89-%D9%84%D8%AA%D8%B7%D9%88%D9%8A%D8%B1-12-%D9%85%D8%B3%D8%AA%D8%B4%D9%81%D9%89-%D9%81%D9%8A-%D8%A7%D9%84%D8%B9%D8%B1%D8%A7%D9%82-%D8%A8%D9%86%D8%B5%D9%81-%D9%85%D9%84%D9%8A%D8%A7%D8%B1-%D8%AF%D9%88%D9%84%D8%A7%D8%B1\/\" style=\"\" rel=\"noopener\">Asharq Business<\/a> reported, citing unnamed Egyptian sources. The <a target=\"_blank\" href=\"https:\/\/www.arabcont.com\/English\/\" style=\"\" rel=\"noopener\">Arab Contractors<\/a> and <a target=\"_blank\" href=\"https:\/\/concrete-plus.net\/\" style=\"\" rel=\"noopener\">Concrete Plus<\/a> are among the potential candidates, one of the sources said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember: <\/strong>Egyptian contracting firms are setting their sights on overseas projects as the government cut back on public spending, including a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/02d223b2-6f5b-4685-9f35-60724896fed1\" style=\"\" rel=\"noopener\">15% reduction<\/a> in funds allocated to public investments in the current fiscal year\u2019s budget.<\/p>\n<p class=\"tag-border-left\">CAPITAL MARKETS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A new era of accessibility for EFG Hermes ONE: <\/strong>EFG Holding\u2019s online trading platform EFG Hermes ONE will introduce a new debit card top-up option on its platform, which is poised to enable customers to \u201cleverage their debit cards for fluid securities trading, setting the stage for a new era of accessibility and efficiency,\u201d according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/6\/146.pdf\" style=\"\" rel=\"noopener\">press release (pdf)<\/a>. This is the result of a strategic partnership between the platform, state-own lender Banque Misr, and EFG Holding\u2019s subsidiary and e-payment solutions provider PayTabs.<\/p>\n<p class=\"tag-border-left\"> INVESTMENT- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Alfa Trans to invest EGP 100 mn in Egypt this year:<\/strong> Local shipping agency service provider <a target=\"_blank\" href=\"https:\/\/www.alfatransegypt.com\/\" style=\"\" rel=\"noopener\">Alfa Trans<\/a> wants to \u2014 together with its strategic partners \u2014 invest over EGP 100 mn in Egypt this year, the company\u2019s chairman of the board Khaled Elawwa told <a target=\"_blank\" href=\"https:\/\/www.alborsaanews.com\/2024\/05\/30\/1796899\" style=\"\" rel=\"noopener\">Al Borsa<\/a>. <\/p>\n<p class=\"tag-border-left\">INSURTECH-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Mal Baz<\/strong><strong>aar acquires licensed ins. broker:<\/strong> Insurtech player <a target=\"_blank\" href=\"https:\/\/malbazaar.com\/\" style=\"\" rel=\"noopener\">Mal Bazaar<\/a> has acquired an unnamed licensed ins. brokerage firm after receiving the greenlight from the Financial Regulatory Authority, the company said in a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/6\/128.pdf\" style=\"\" rel=\"noopener\">statement (pdf)<\/a>. The company recently launched its ins. management platform \u2014 dubbed My Policy \u2014 which allows its clients to digitize their operations. Mal Bazaar allows its corporate and individual clients to search, compare, and apply for ins. products in Egypt.<\/p>\n<p class=\"tag-border-left\">FINTECH-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>QR code payment coming to Instapay?<\/strong> The central bank\u2019s digital payment platform Instapay will \u201cwithin days\u201d roll out QR code payment services, <a target=\"_blank\" href=\"https:\/\/x.com\/AsharqbEGY\/status\/1797238758170894509\" style=\"\" rel=\"noopener\">Asharq Business<\/a> reported. The service will allow users to transfer funds by scanning QR codes on their mobile devices. QR code payments \u2014 aka scan-to-pay services \u2014 will make their way to points of sale later this year.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Harbour Energy snaps concessions in the Nile Delta, Mediterranean<\/p>\n","protected":false},"author":1,"featured_media":621805,"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":[111,833,84,72,76,183,7115,7111,1458,552,8628,8629,91,807],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-621804","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-also-on-our-radar","tag-also-on-our-radar","tag-arab-contractors","tag-efg-hermes","tag-enterpriseam","tag-financial-regulatory-authority","tag-fintech","tag-healthcare","tag-infrastructure","tag-instapay","tag-iraq","tag-mal-bazaar","tag-north-petroleum","tag-oil-and-gas","tag-paytabs","wpautop","entry"],"acf":{"mongo_id":"ac6a40f0-863f-44a1-a7ee-3a9354377001","order":"12","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/6\/152.jpg","photo_position":"above","homepage_title":"","full_issue_title":"North Petroleum to boost production from its Western Desert block","related_issue":[621783],"teaser":"Harbour Energy snaps concessions in the Nile Delta, Mediterranean","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/6\/.832d413b-1fc7-4711-a6ef-12a5842a3baf.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>North Petroleum to boost production from Western Desert block. 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This will account for 16% of the company\u2019s total production. The company is now\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\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":591949,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/12\/22\/new-oil-well-discovered-in-egypts-western-desert-2\/","url_meta":{"origin":621804,"position":1},"title":"New oil well discovered in Egypt\u2019s Western Desert","author":"enterpriseam admin","date":"22 December 2019","format":false,"excerpt":"A new oil well was discovered in the Western Desert in Abu Sennan, after Borg El-Arab Petroleum and Mineral Company drilled exploratory oil wells in the area, according to a cabinet statement. The production capacity of the ASH-2 well is estimated to be 7k bbl\/d of crude oil and 10\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\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":575201,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/10\/06\/apache-could-spend-usd-900-mn-at-its-concessions-in-egypts-western-desert\/","url_meta":{"origin":621804,"position":2},"title":"Apache could spend USD 900 mn at its concessions in Egypt\u2019s Western Desert","author":"enterpriseam admin","date":"6 October 2020","format":false,"excerpt":"INVESTMENT WATCH- US oil and gas producer Apache could spend as much as USD 900 mn at its Western Desert oil concessions this fiscal year if oil prices mount a recovery, Al Mal reports, citing a senior official at the Egyptian General Petroleum Corporation (EGPC). 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