{"id":629041,"date":"2018-05-21T04:12:05","date_gmt":"2018-05-21T04:12:05","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2018\/05\/21\/kuwait-energy-looks-to-spin-off-egyptian-assets\/"},"modified":"2018-05-21T04:12:05","modified_gmt":"2018-05-21T04:12:05","slug":"kuwait-energy-looks-to-spin-off-egyptian-assets","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2018\/05\/21\/kuwait-energy-looks-to-spin-off-egyptian-assets\/","title":{"rendered":"Kuwait Energy looks to spin-off Egyptian assets"},"content":{"rendered":"

<\/a> Kuwait Energy looks to spin-off Egyptian assets:<\/strong> Kuwait Energy has hired investment bank Perella Weinberg Partners to advise on possibly divesting its stakes in Egypt and Iraq, sources close to the matter tell Reuters<\/a>. Plans include spinning off Egypt assets that include interests in four oil and gas fields, including the Abu Sennan concession. Kuwait Energy had reduced its stake<\/a> in that field to 25% last year. In Iraq, the company is looking to sell part or all of its Block 9 field. The move comes as the company is looking for liquidity to pay back shareholders and creditors. Talks for a possible merger with the UK\u2019s SOCO International earlier this year had reportedly had fallen apart. The firm, which lost its CEO and saw a credit downgrade last year, owes USD 290 mn due next year, and should start repayments of a convertible loan of around USD 150 mn this year to an entity controlled by private equity group Abraaj.<\/p>\n","protected":false},"excerpt":{"rendered":"

Kuwait Energy looks to spin-off Egyptian assets: Kuwait Energy has hired investment bank Perella Weinberg Partners to advise on possibly divesting its stakes in Egypt and Iraq, sources close to the matter tell Reuters. Plans include spinning off Egypt assets that include interests in four oil and gas fields, including the Abu Sennan concession. Kuwait […]<\/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-629041","post","type-post","status-publish","format-standard","hentry","category-speed-round","tag-enterpriseam","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"0144fb97-42c7-4dbb-9d48-3b5682891a94","order":"0","is_powered_by":true,"section_story_id":"57521570-3e00-4b35-9071-bb51df4ac545","story_type":"1","photo_url":"","photo_position":"above","related_issue":[629027],"teaser":"","voice_url":""},"yoast_head":"\nKuwait Energy looks to spin-off Egyptian 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\/05\/21\/kuwait-energy-looks-to-spin-off-egyptian-assets\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Kuwait Energy looks to spin-off Egyptian assets\" \/>\n<meta property=\"og:description\" content=\"Kuwait Energy looks to spin-off Egyptian assets: Kuwait Energy has hired investment bank Perella Weinberg Partners to advise on possibly divesting its stakes in Egypt and Iraq, sources close to the matter tell Reuters. Plans include spinning off Egypt assets that include interests in four oil and gas fields, including the Abu Sennan concession. 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EPROM has also received another offer to operate and maintain water processing units at Kuwait\u2019s Al Zour oil field, CEO\u2026","rel":"","context":"In "Energy"","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":632523,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/02\/13\/iraq-looks-to-egypt-as-a-model\/","url_meta":{"origin":629041,"position":3},"title":"Iraq looks to Egypt as a model","author":"enterpriseam admin","date":"13 February 2018","format":false,"excerpt":"Iraq will follow Egypt\u2019s model on economic reforms as it begins a USD 88 bn reconstruction process after three years of war with Daesh, Iraqi Central Bank Governor Ali Mohsen Al Allaq told Al Shorouk on the sidelines of an international donors\u2019 conference in Kuwait yesterday. 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