{"id":638457,"date":"2017-10-04T03:48:56","date_gmt":"2017-10-04T03:48:56","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2017\/10\/04\/kuwait-energy-acquires-approval-to-complete-sale-of-25-stake-in-abu-sennan-concession-to-global-connect-ltd\/"},"modified":"2017-10-04T03:48:56","modified_gmt":"2017-10-04T03:48:56","slug":"kuwait-energy-acquires-approval-to-complete-sale-of-25-stake-in-abu-sennan-concession-to-global-connect-ltd","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2017\/10\/04\/kuwait-energy-acquires-approval-to-complete-sale-of-25-stake-in-abu-sennan-concession-to-global-connect-ltd\/","title":{"rendered":"Kuwait Energy acquires approval to complete sale of 25% stake in Abu Sennan concession to Global Connect Ltd."},"content":{"rendered":"

Kuwait Energy obtained the necessary approvals to complete the sale of 25% of its stake in the Abu Sennan concession to Global Connect Ltd, the company announced in a statement to Reuters yesterday<\/a>. The two sides had signed a Farm Out Agreement in December last year but had been waiting for the EGPC and Oil Ministry to sign off on the transaction, the value of which remains undisclosed. The agreement reduces Kuwait Energy\u2019s share to 25%, but the firm will continue to manage the concession. Dover Investment holds 28% and Rockhopper Exploration hold 22%.<\/p>\n","protected":false},"excerpt":{"rendered":"

Kuwait Energy obtained the necessary approvals to complete the sale of 25% of its stake in the Abu Sennan concession to Global Connect Ltd, the company announced in a statement to Reuters yesterday. The two sides had signed a Farm Out Agreement in December last year but had been waiting for the EGPC and Oil […]<\/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":[7207],"tags":[93,72],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-638457","post","type-post","status-publish","format-standard","hentry","category-energy","tag-energy","tag-enterpriseam","wpautop","entry"],"acf":{"mongo_id":"838387c4-1eac-4fc3-a18b-e140f98e23d2","order":"0","is_powered_by":true,"section_story_id":"203c9811-91da-4944-92c4-bf60ee24406a","story_type":"1","photo_url":"","photo_position":"above","related_issue":[638420],"teaser":"","voice_url":""},"yoast_head":"\nKuwait Energy acquires approval to complete sale of 25% stake in Abu Sennan concession to Global Connect Ltd. - 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\/2017\/10\/04\/kuwait-energy-acquires-approval-to-complete-sale-of-25-stake-in-abu-sennan-concession-to-global-connect-ltd\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Kuwait Energy acquires approval to complete sale of 25% stake in Abu Sennan concession to Global Connect Ltd.\" \/>\n<meta property=\"og:description\" content=\"Kuwait Energy obtained the necessary approvals to complete the sale of 25% of its stake in the Abu Sennan concession to Global Connect Ltd, the company announced in a statement to Reuters yesterday. 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Rockhopper and United had signed a\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":597351,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/07\/24\/united-oil-gas-looks-to-acquire-rockhopper-egypt-for-usd-16-mn\/","url_meta":{"origin":638457,"position":2},"title":"United Oil & Gas looks to acquire Rockhopper Egypt for USD 16 mn","author":"enterpriseam admin","date":"24 July 2019","format":false,"excerpt":"M&A WATCH- United Oil & Gas wants to buy Rockhopper Egypt for USD 16 mn: Irish energy company United Oil & Gas has proposed to Rockhopper Exploration that it acquire Rockhopper\u2019s Egypt business for USD 16 mn, the company said in a statement. Rockhopper Egypt owns a non-operating 22% interest\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":571967,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/06\/07\/new-oil-well-discovered-in-egypts-western-desert\/","url_meta":{"origin":638457,"position":3},"title":"New oil well discovered in Egypt\u2019s Western Desert","author":"enterpriseam admin","date":"7 June 2020","format":false,"excerpt":"Borg El-Arab Petroleum and Mineral Company \u2014 a JV between the EGPC and Kuwait Energy \u2014 has discovered a new oil well in the Western Desert\u2019s Abu Sennan concession, the cabinet said yesterday. The Salmeya-5 well is estimated to hold 4k bbl\/d of crude oil and 18 mn cf\/d of\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":621614,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/11\/13\/rockhoppers-begins-jahraa-6-oil-production-in-egypts-abu-sennan-concession\/","url_meta":{"origin":638457,"position":4},"title":"Rockhoppers begins Jahraa 6 oil production in Egypt\u2019s Abu Sennan concession","author":"enterpriseam admin","date":"13 November 2018","format":false,"excerpt":"UK\u2019s Rockhopper Exploration began production from its Jahraa 6 oil well in the Western Desert\u2019s Abu Sennan concession, bringing the concession to 3,800 bopd, the company said in a statement (pdf). Rockhopper has a 22% interest in the concession and is owed arrears of USD c. 1.9 mn from the\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":629041,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/05\/21\/kuwait-energy-looks-to-spin-off-egyptian-assets\/","url_meta":{"origin":638457,"position":5},"title":"Kuwait Energy looks to spin-off Egyptian assets","author":"enterpriseam admin","date":"21 May 2018","format":false,"excerpt":"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. 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