{"id":623059,"date":"2018-10-21T04:11:13","date_gmt":"2018-10-21T04:11:13","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2018\/10\/21\/sdx-bp-fail-to-reach-agreement-on-egypt-assets\/"},"modified":"2018-10-21T04:11:13","modified_gmt":"2018-10-21T04:11:13","slug":"sdx-bp-fail-to-reach-agreement-on-egypt-assets","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2018\/10\/21\/sdx-bp-fail-to-reach-agreement-on-egypt-assets\/","title":{"rendered":"SDX, BP fail to reach agreement on Egypt assets"},"content":{"rendered":"

<\/a> ** #4 M&A WATCH- BP talks to sell Egypt assets to SDX fail.<\/strong> SDX Energy has \u201cterminated\u201d talks to acquire BP\u2019s Egypt assets after failing to reach an agreement, the company said in a statement on Thursday (pdf)<\/a>. SDX gave no color on why the talks broke down. SDX Energy announced last month<\/a> that it was in open talks with BP to acquire \u201ca significant package of [its] assets in Egypt.\u201d It was not not immediately clear which assets SDX hoped to acquire, but the company said the transaction would take the form of a reverse takeover, allowing SDX entry to the London Stock Exchange\u2019s main market. BP had been said to be shopping<\/a> for buyers since at least March as part of a plan to sell USD 2-3 bn\u2019s worth of maturing assets this year.<\/p>\n

BP isn\u2019t exiting Egypt: The global oil major plans to invest USD 2 bn in Egypt next year<\/strong>, BP North Africa Regional President Hesham Mekawi told Al Shorouk in an interview<\/a> last month. Among the assets in which it is investing is its Raven field, which is part of its West Nile concessions in Fayoum and Giza. The Raven gas field is expected to come online in 2H2019, a source from the Oil Ministry officialtold Youm7<\/a> on Thursday. Production is expected to reach 350 mcf\/d of gas.<\/p>\n","protected":false},"excerpt":{"rendered":"

** #4 M&A WATCH- BP talks to sell Egypt assets to SDX fail. SDX Energy has \u201cterminated\u201d talks to acquire BP\u2019s Egypt assets after failing to reach an agreement, the company said in a statement on Thursday (pdf). SDX gave no color on why the talks broke down. SDX Energy announced last month that it […]<\/p>\n","protected":false},"author":1,"featured_media":0,"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":[8572],"tags":[72,2380],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-623059","post","type-post","status-publish","format-standard","hentry","category-speed-round","tag-enterpriseam","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"79b2ea72-90d5-49da-a132-c82b06f03384","order":"0","is_powered_by":true,"section_story_id":"5c24a600-6e72-47d4-b5ae-7ca4d235cf28","story_type":"1","photo_url":"","photo_position":"above","related_issue":[623052],"teaser":"","voice_url":""},"yoast_head":"\nSDX, BP fail to reach agreement on Egypt assets - 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\/2018\/10\/21\/sdx-bp-fail-to-reach-agreement-on-egypt-assets\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"SDX, BP fail to reach agreement on Egypt assets\" \/>\n<meta property=\"og:description\" content=\"** #4 M&A WATCH- BP talks to sell Egypt assets to SDX fail. SDX Energy has \u201cterminated\u201d talks to acquire BP\u2019s Egypt assets after failing to reach an agreement, the company said in a statement on Thursday (pdf). SDX gave no color on why the talks broke down. 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