{"id":654026,"date":"2024-10-27T00:00:00","date_gmt":"2024-10-27T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2024\/10\/27\/tag-oil-is-raising-usd-7-2-mn-to-fund-activities-in-egypt-plus-news-from-knauf-oppo-elsewedy\/"},"modified":"2024-10-27T00:00:00","modified_gmt":"2024-10-27T00:00:00","slug":"tag-oil-is-raising-usd-7-2-mn-to-fund-activities-in-egypt-plus-news-from-knauf-oppo-elsewedy","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2024\/10\/27\/tag-oil-is-raising-usd-7-2-mn-to-fund-activities-in-egypt-plus-news-from-knauf-oppo-elsewedy\/","title":{"rendered":"TAG Oil is raising USD 7.2 mn to fund activities in Egypt. PLUS: News from Knauf, Oppo, Elsewedy"},"content":{"rendered":"

\n

ENERGY-<\/p>\n

TAG Oil looks to raise <\/strong>USD 7.2 mn<\/strong> to fund its activities in Egypt:<\/strong> Canada-based oil and gas company TAG Oil is looking to raise CAD 10 mn (USD 7.2 mn) through a public offering of additional units in the company, with the firm planning on using the proceeds of the offering to \u201cadvance appraisal and development activities\u201d in Egypt\u2019s Western Desert, the company said in a statement<\/a>. The firm will use the funds to expand its work in the Badr field as well as a new 512k-acre concession in the Western Desert that it is currently in the process of acquiring.<\/p>\n

(Tap or click the headline above to read this story with all of the links <\/strong>to our background as well as external sources.)<\/p>\n

Remember:<\/strong> Last week, TAG Oil secured a no-objection letter<\/a> from the Egyptian General Petroleum Company for its binding proposal submitted in 2Q 2024 to acquire a 2k km concession in the Western Desert.<\/p>\n

\n

MANUFACTURING-<\/p>\n

#1- Knauf sets up its third factory in Egypt:<\/strong> Building material manufacturer Knauf is opening a new gypsum board factory in Egypt \u2014 its third so far \u2014 with investments of EUR 80 mn, CEO Mohamed Abdelrasoul told Prime Minister Moustafa Madbouly, according to a cabinet statement<\/a>. The new factory will push the firm\u2019s total production capacity to 60 mn sqm of gypsum boards annually and will reduce water and energy consumption by 35%, according to Abdelrasoul.<\/p>\n

Knauf has big investments planned in Egypt:<\/strong> Abdelrasoul announced back in June that the company is planning to increase its investments in Egypt to EUR 120 mn<\/a> by 2026, up from EUR 50 mn at the time. The funds were set to go toward expanding the company\u2019s existing operations and adding new production lines to Knauf\u2019s gypsum board factory in Suez. <\/p>\n

\n

\n

#2- Oppo expands local smartphone manufacturing:<\/strong> Chinese smartphone manufacturer Oppo has begun production of its Reno 12 5G phones in Egypt, according to a company statement picked up by local media outlets. The company is also aiming to increase production from 70k phones per month currently to 500k in the coming period and create 1.2k jobs.<\/p>\n

** Check out our Inside Industry rundown of the localization of our smartphone <\/strong>industry <\/strong>here<\/a><\/strong>.<\/strong><\/p>\n

\n

COMMODITIES-<\/p>\n

Our supersized wheat shipment hits a speed bump: <\/strong>Our massive 430k ton wheat shipment contracted last month may not be moving forward, Bloomberg<\/a> reports, citing traders familiar with the matter. The shipment \u2014 which was slated to be delivered by the first week of November \u2014 has been delayed, with no ships assigned to collect the grain and paperwork still not complete. <\/p>\n

REFRESHER- Egypt grain buyer GASC purchased <\/strong>430k tons of Russian wheat<\/a><\/strong> last month at USD 235 per ton to bring the country\u2019s strategic wheat reserves to a level equivalent to 6.1 months of consumption. The size of the wheat buy was driven by wheat\u2019s low price at the time \u2014 something Egypt will not be able to capitalize on if the agreement is delayed further with wheat prices rising. <\/p>\n

\n

EXPANSION-<\/p>\n

Elsewedy <\/strong>to help diversify Iraqi economy:<\/strong> Elsewedy Electric has signed an MoU with the Iraq Development Fund to establish a new fund \u2014 dubbed the Localization Fund \u2014 that aims to attract both local and foreign investments to support Iraq's economic diversification, according to a statement (pdf<\/a>)<\/a>. The partnership will focus on developing projects across the agricultural, industrial, and service sectors, with the aim of reducing Iraq\u2019s dependence on oil and fostering collaboration between international and local investors.<\/p>\n

Where Elsewedy fits in: <\/strong>\u201cThrough this alliance, we will offer our expertise in project execution while also focusing on human capital development by establishing technical and vocational schools, as well as universities, in line with global standards,\u201d Elsewedy Electric CEO Ahmed El Sewedy said. <\/p>\n

\n

INTERNATIONAL COOPERATION-<\/p>\n

Egypt OECD country program renewed to 2025:<\/strong> The Organisation for Economic Cooperation and Development (OECD) will renew its Egypt Country Program<\/a> for another year until 2025 under an MoU inked with the International Cooperation Ministry<\/a>. The program focuses on five key pillars for Egypt\u2019s development inline with OECD standards \u2014 economic growth, innovation and digital transformation, governance and anti corruption, enhancing statistics, and sustainable development.<\/p>\n

\n

REAL ESTATE-<\/p>\n

Madinet Masr join up with Zahraa Maadi Investment and Development for New <\/strong>Heliopolis project: <\/strong>Local real estate players Madinet Masr and Zahraa Maadi Investment and Development will jointly develop a 42-feddan residential project in New Heliopolis with projected revenues of EGP 11.4 bn, according to a statement (pdf)<\/a>. The project will take some six years to implement with Madinet Masr holding a 64% share and Zahraa Maadi holding a 36% share.<\/p>\n

\n

AUTOMOTIVE-<\/p>\n

Mercedes-Benz wants to up its production in Egypt:<\/strong> Mercedes-Benz Egypt is looking to increase its production by 30% in 2025, newly-appointed<\/a> CEO Stefanie Volz said during a meeting with Investment Minister Hassan El Khatib last week, according to a ministry statement<\/a>. Volz added that the Egyptian market holds significant potential for the auto industry given its strategic location as a hub for African markets.<\/p>\n","protected":false},"excerpt":{"rendered":"

The company will use the funds to expand its work in the Badr field as well as a new 512k-acre concession<\/p>\n","protected":false},"author":1,"featured_media":654027,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","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":[111,317,152,93,72,443,7203,131,1701,91,83,270,563],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-654026","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-also-on-our-radar","tag-also-on-our-radar","tag-commodities","tag-elsewedy-electric","tag-energy","tag-enterpriseam","tag-international-cooperation-ministry","tag-madinet-masr","tag-manufacturing","tag-oecd","tag-oil-and-gas","tag-real-estate","tag-russia","tag-wheat","wpautop","entry"],"acf":{"mongo_id":"e1594d9b-62a9-474e-aded-4c3576ba3ac3","order":"11","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/10\/2258.jpg","photo_position":"above","homepage_title":"","full_issue_title":"TAG Oil is raising USD 7.2 mn to fund activities in Egypt","related_issue":[654007],"teaser":"The company will use the funds to expand its work in the Badr field as well as a new 512k-acre concession","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/10\/.6ed8d7fd-236f-4018-9d98-4299beb6a48c.mp3"},"yoast_head":"\nTAG Oil is raising USD 7.2 mn to fund activities in Egypt. PLUS: News from Knauf, Oppo, Elsewedy - 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\/10\/27\/tag-oil-is-raising-usd-7-2-mn-to-fund-activities-in-egypt-plus-news-from-knauf-oppo-elsewedy\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"TAG Oil is raising USD 7.2 mn to fund activities in Egypt. PLUS: News from Knauf, Oppo, Elsewedy\" \/>\n<meta property=\"og:description\" content=\"The company will use the funds to expand its work in the Badr field as well as a new 512k-acre concession\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2024\/10\/27\/tag-oil-is-raising-usd-7-2-mn-to-fund-activities-in-egypt-plus-news-from-knauf-oppo-elsewedy\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2024-10-27T00:00:00+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/2258.jpg?fit=%2C&ssl=1\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2024\/10\/27\/tag-oil-is-raising-usd-7-2-mn-to-fund-activities-in-egypt-plus-news-from-knauf-oppo-elsewedy\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2024\/10\/27\/tag-oil-is-raising-usd-7-2-mn-to-fund-activities-in-egypt-plus-news-from-knauf-oppo-elsewedy\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"TAG Oil is raising USD 7.2 mn to fund activities in Egypt. PLUS: News from Knauf, Oppo, Elsewedy\",\"datePublished\":\"2024-10-27T00:00:00+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2024\/10\/27\/tag-oil-is-raising-usd-7-2-mn-to-fund-activities-in-egypt-plus-news-from-knauf-oppo-elsewedy\/\"},\"wordCount\":826,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2024\/10\/27\/tag-oil-is-raising-usd-7-2-mn-to-fund-activities-in-egypt-plus-news-from-knauf-oppo-elsewedy\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/2258.jpg?fit=%2C&ssl=1\",\"keywords\":[\"ALSO ON OUR RADAR\",\"commodities\",\"Elsewedy Electric\",\"energy\",\"EnterpriseAM\",\"International Cooperation Ministry\",\"Madinet Masr\",\"Manufacturing\",\"OECD\",\"oil and gas\",\"real estate\",\"Russia\",\"wheat\"],\"articleSection\":[\"Also on our Radar\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2024\/10\/27\/tag-oil-is-raising-usd-7-2-mn-to-fund-activities-in-egypt-plus-news-from-knauf-oppo-elsewedy\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2024\/10\/27\/tag-oil-is-raising-usd-7-2-mn-to-fund-activities-in-egypt-plus-news-from-knauf-oppo-elsewedy\/\",\"name\":\"TAG Oil is raising USD 7.2 mn to fund activities in Egypt. PLUS: News from Knauf, Oppo, Elsewedy - EnterpriseAM Egypt\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2024\/10\/27\/tag-oil-is-raising-usd-7-2-mn-to-fund-activities-in-egypt-plus-news-from-knauf-oppo-elsewedy\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2024\/10\/27\/tag-oil-is-raising-usd-7-2-mn-to-fund-activities-in-egypt-plus-news-from-knauf-oppo-elsewedy\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/2258.jpg?fit=%2C&ssl=1\",\"datePublished\":\"2024-10-27T00:00:00+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2024\/10\/27\/tag-oil-is-raising-usd-7-2-mn-to-fund-activities-in-egypt-plus-news-from-knauf-oppo-elsewedy\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/enterpriseam.com\/egypt\/2024\/10\/27\/tag-oil-is-raising-usd-7-2-mn-to-fund-activities-in-egypt-plus-news-from-knauf-oppo-elsewedy\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2024\/10\/27\/tag-oil-is-raising-usd-7-2-mn-to-fund-activities-in-egypt-plus-news-from-knauf-oppo-elsewedy\/#primaryimage\",\"url\":\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/2258.jpg?fit=%2C&ssl=1\",\"contentUrl\":\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/2258.jpg?fit=%2C&ssl=1\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2024\/10\/27\/tag-oil-is-raising-usd-7-2-mn-to-fund-activities-in-egypt-plus-news-from-knauf-oppo-elsewedy\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/enterpriseam.com\/egypt\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"TAG Oil is raising USD 7.2 mn to fund activities in Egypt. PLUS: News from Knauf, Oppo, Elsewedy\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#website\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/\",\"name\":\"EnterpriseAM\",\"description\":\"The State of the Nation\",\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/enterpriseam.com\/egypt\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\",\"name\":\"EnterpriseAM\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/ent.news\/internal\/240894.svg\",\"contentUrl\":\"https:\/\/ent.news\/internal\/240894.svg\",\"caption\":\"EnterpriseAM\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/logo\/image\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\",\"name\":\"enterpriseam admin\",\"sameAs\":[\"http:\/\/enterpriseam.testing.projectsarea.com\"],\"url\":\"https:\/\/enterpriseam.com\/egypt\/author\/enterpriseam\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"TAG Oil is raising USD 7.2 mn to fund activities in Egypt. PLUS: News from Knauf, Oppo, Elsewedy - EnterpriseAM Egypt","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/enterpriseam.com\/egypt\/2024\/10\/27\/tag-oil-is-raising-usd-7-2-mn-to-fund-activities-in-egypt-plus-news-from-knauf-oppo-elsewedy\/","og_locale":"en_US","og_type":"article","og_title":"TAG Oil is raising USD 7.2 mn to fund activities in Egypt. PLUS: News from Knauf, Oppo, Elsewedy","og_description":"The company will use the funds to expand its work in the Badr field as well as a new 512k-acre concession","og_url":"https:\/\/enterpriseam.com\/egypt\/2024\/10\/27\/tag-oil-is-raising-usd-7-2-mn-to-fund-activities-in-egypt-plus-news-from-knauf-oppo-elsewedy\/","og_site_name":"EnterpriseAM Egypt","article_published_time":"2024-10-27T00:00:00+00:00","og_image":[{"url":"https:\/\/i0.wp.com\/ent.news\/2024\/10\/2258.jpg?fit=%2C&ssl=1","type":"","width":"","height":""}],"author":"enterpriseam admin","twitter_card":"summary_large_image","twitter_misc":{"Written by":"enterpriseam admin","Est. reading time":"4 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/enterpriseam.com\/egypt\/2024\/10\/27\/tag-oil-is-raising-usd-7-2-mn-to-fund-activities-in-egypt-plus-news-from-knauf-oppo-elsewedy\/#article","isPartOf":{"@id":"https:\/\/enterpriseam.com\/egypt\/2024\/10\/27\/tag-oil-is-raising-usd-7-2-mn-to-fund-activities-in-egypt-plus-news-from-knauf-oppo-elsewedy\/"},"author":{"name":"enterpriseam admin","@id":"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d"},"headline":"TAG Oil is raising USD 7.2 mn to fund activities in Egypt. PLUS: News from Knauf, Oppo, Elsewedy","datePublished":"2024-10-27T00:00:00+00:00","mainEntityOfPage":{"@id":"https:\/\/enterpriseam.com\/egypt\/2024\/10\/27\/tag-oil-is-raising-usd-7-2-mn-to-fund-activities-in-egypt-plus-news-from-knauf-oppo-elsewedy\/"},"wordCount":826,"publisher":{"@id":"https:\/\/enterpriseam.com\/egypt\/#organization"},"image":{"@id":"https:\/\/enterpriseam.com\/egypt\/2024\/10\/27\/tag-oil-is-raising-usd-7-2-mn-to-fund-activities-in-egypt-plus-news-from-knauf-oppo-elsewedy\/#primaryimage"},"thumbnailUrl":"https:\/\/i0.wp.com\/ent.news\/2024\/10\/2258.jpg?fit=%2C&ssl=1","keywords":["ALSO ON OUR RADAR","commodities","Elsewedy Electric","energy","EnterpriseAM","International Cooperation Ministry","Madinet Masr","Manufacturing","OECD","oil and gas","real estate","Russia","wheat"],"articleSection":["Also on our Radar"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/enterpriseam.com\/egypt\/2024\/10\/27\/tag-oil-is-raising-usd-7-2-mn-to-fund-activities-in-egypt-plus-news-from-knauf-oppo-elsewedy\/","url":"https:\/\/enterpriseam.com\/egypt\/2024\/10\/27\/tag-oil-is-raising-usd-7-2-mn-to-fund-activities-in-egypt-plus-news-from-knauf-oppo-elsewedy\/","name":"TAG Oil is raising USD 7.2 mn to fund activities in Egypt. PLUS: News from Knauf, Oppo, Elsewedy - EnterpriseAM Egypt","isPartOf":{"@id":"https:\/\/enterpriseam.com\/egypt\/#website"},"primaryImageOfPage":{"@id":"https:\/\/enterpriseam.com\/egypt\/2024\/10\/27\/tag-oil-is-raising-usd-7-2-mn-to-fund-activities-in-egypt-plus-news-from-knauf-oppo-elsewedy\/#primaryimage"},"image":{"@id":"https:\/\/enterpriseam.com\/egypt\/2024\/10\/27\/tag-oil-is-raising-usd-7-2-mn-to-fund-activities-in-egypt-plus-news-from-knauf-oppo-elsewedy\/#primaryimage"},"thumbnailUrl":"https:\/\/i0.wp.com\/ent.news\/2024\/10\/2258.jpg?fit=%2C&ssl=1","datePublished":"2024-10-27T00:00:00+00:00","breadcrumb":{"@id":"https:\/\/enterpriseam.com\/egypt\/2024\/10\/27\/tag-oil-is-raising-usd-7-2-mn-to-fund-activities-in-egypt-plus-news-from-knauf-oppo-elsewedy\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/enterpriseam.com\/egypt\/2024\/10\/27\/tag-oil-is-raising-usd-7-2-mn-to-fund-activities-in-egypt-plus-news-from-knauf-oppo-elsewedy\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/enterpriseam.com\/egypt\/2024\/10\/27\/tag-oil-is-raising-usd-7-2-mn-to-fund-activities-in-egypt-plus-news-from-knauf-oppo-elsewedy\/#primaryimage","url":"https:\/\/i0.wp.com\/ent.news\/2024\/10\/2258.jpg?fit=%2C&ssl=1","contentUrl":"https:\/\/i0.wp.com\/ent.news\/2024\/10\/2258.jpg?fit=%2C&ssl=1"},{"@type":"BreadcrumbList","@id":"https:\/\/enterpriseam.com\/egypt\/2024\/10\/27\/tag-oil-is-raising-usd-7-2-mn-to-fund-activities-in-egypt-plus-news-from-knauf-oppo-elsewedy\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/enterpriseam.com\/egypt\/"},{"@type":"ListItem","position":2,"name":"TAG Oil is raising USD 7.2 mn to fund activities in Egypt. PLUS: News from Knauf, Oppo, Elsewedy"}]},{"@type":"WebSite","@id":"https:\/\/enterpriseam.com\/egypt\/#website","url":"https:\/\/enterpriseam.com\/egypt\/","name":"EnterpriseAM","description":"The State of the Nation","publisher":{"@id":"https:\/\/enterpriseam.com\/egypt\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/enterpriseam.com\/egypt\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/enterpriseam.com\/egypt\/#organization","name":"EnterpriseAM","url":"https:\/\/enterpriseam.com\/egypt\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/enterpriseam.com\/egypt\/#\/schema\/logo\/image\/","url":"https:\/\/ent.news\/internal\/240894.svg","contentUrl":"https:\/\/ent.news\/internal\/240894.svg","caption":"EnterpriseAM"},"image":{"@id":"https:\/\/enterpriseam.com\/egypt\/#\/schema\/logo\/image\/"}},{"@type":"Person","@id":"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d","name":"enterpriseam admin","sameAs":["http:\/\/enterpriseam.testing.projectsarea.com"],"url":"https:\/\/enterpriseam.com\/egypt\/author\/enterpriseam\/"}]}},"featured_image_src":"https:\/\/i0.wp.com\/ent.news\/2024\/10\/2258.jpg?resize=600%2C400&ssl=1","featured_image_src_square":"https:\/\/i0.wp.com\/ent.news\/2024\/10\/2258.jpg?resize=600%2C600&ssl=1","author_info":{"display_name":"enterpriseam admin","author_link":"https:\/\/enterpriseam.com\/egypt\/author\/enterpriseam\/"},"jetpack_featured_media_url":"https:\/\/i0.wp.com\/ent.news\/2024\/10\/2258.jpg?fit=%2C&ssl=1","jetpack_sharing_enabled":true,"jetpack-related-posts":[{"id":671861,"url":"https:\/\/enterpriseam.com\/egypt\/2025\/09\/15\/oil-ministry-inks-usd-121-mn-worth-of-oil-and-gas-exploration-agreements\/","url_meta":{"origin":654026,"position":0},"title":"Oil Ministry inks USD 121 mn worth of oil and gas exploration agreements","author":"enterpriseam admin","date":"15 September 2025","format":false,"excerpt":"PLUS- EGPC plans to recover 13 mn barrels of crude oil and condensate reserves in 4Q 2025","rel":"","context":"In "Also on our Radar"","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\/2024\/10\/1027.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":547636,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/06\/29\/elsewedy-electric-gets-usd-150-mn-from-ifc-to-fund-renewables-investments-abroad\/","url_meta":{"origin":654026,"position":1},"title":"Elsewedy Electric gets USD 150 mn from IFC to fund renewables investments abroad","author":"enterpriseam admin","date":"29 June 2022","format":false,"excerpt":"Elsewedy Electric will use a USD 150 mn loan from the International Finance Corporation (IFC) to acquire renewable energy plants outside of Egypt, company VP and CFO Sherif Elzeiny told CNBC Arabia in an interview (watch, runtime: 4:00). \u201cThe funds will also be used to support projects related to sustainability\u2026\u2026","rel":"","context":"In "Also on our Radar"","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\/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":654026,"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":660467,"url":"https:\/\/enterpriseam.com\/egypt\/2025\/02\/12\/intl-energy-players-to-invest-usd-130-mn-in-oil-and-gas-drilling\/","url_meta":{"origin":654026,"position":3},"title":"Int\u2019l energy players to invest USD 130 mn in oil and gas drilling","author":"enterpriseam admin","date":"12 February 2025","format":false,"excerpt":"The companies will drill 10 oil and gas exploration wells in East Port Said and the Western Desert","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\/2024\/6\/152.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":671043,"url":"https:\/\/enterpriseam.com\/egypt\/2025\/08\/31\/foreign-firms-to-invest-some-usd-340-mn-on-oil-and-gas-exploration\/","url_meta":{"origin":654026,"position":4},"title":"Foreign firms to invest some USD 340 mn on oil and gas exploration","author":"enterpriseam admin","date":"31 August 2025","format":false,"excerpt":"PLUS- Oil Ministry completed the drilling of the exploratory well North Lotus Deep-1 in the Western Desert","rel":"","context":"In "Also on our Radar"","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\/2025\/5\/2299.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":592108,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/12\/26\/egypt-signs-usd-155-worth-of-oil-and-gas-agreements\/","url_meta":{"origin":654026,"position":5},"title":"Egypt signs USD 155-worth of oil and gas agreements","author":"enterpriseam admin","date":"26 December 2019","format":false,"excerpt":"Egypt signs USD 155 mn-worth of oil and gas agreements: The Egyptian General Petroleum Company (EGPC) and Ganope have signed four oil and gas exploration and production agreements that will see companies invest at least USD 155 mn to develop concessions in the Gulf of Suez, Nile Valley, and the\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\/2020\/2\/172.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/654026","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=654026"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/654026\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/654007"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/654027"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=654026"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=654026"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=654026"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=654026"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=654026"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}