{"id":654765,"date":"2024-11-07T00:00:00","date_gmt":"2024-11-07T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2024\/11\/07\/global-firms-are-interested-in-egypts-oil-sector-plus-news-from-bonya-alex-container-telecom-egypt\/"},"modified":"2024-11-07T00:00:00","modified_gmt":"2024-11-07T00:00:00","slug":"global-firms-are-interested-in-egypts-oil-sector-plus-news-from-bonya-alex-container-telecom-egypt","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2024\/11\/07\/global-firms-are-interested-in-egypts-oil-sector-plus-news-from-bonya-alex-container-telecom-egypt\/","title":{"rendered":"Global firms are interested in Egypt\u2019s oil sector. PLUS: News from Bonya, Alex Container, Telecom Egypt"},"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> Global firms want a piece of Egypt\u2019s oil sector:<\/strong> China\u2019s <a target=\"_blank\" href=\"https:\/\/arab.antonoil.com\/\" style=\"\" rel=\"noopener\">Anton Oilfield Services Group<\/a> and the UAE\u2019s <a target=\"_blank\" href=\"https:\/\/www.mubadala.com\/ar\/what-we-do\/mubadala-energy\" style=\"\" rel=\"noopener\">Mubadala Energy<\/a> are looking to explore investments and collaboration in Egypt\u2019s oil sector, according to <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptMOP\/posts\/pfbid0wRxM9eo4d2Cfb7Rxzhv8t5NEm6tpCHcCbphD3vcyHHwmrZ8A4fAJARqw1tohGJnml\" style=\"\" rel=\"noopener\">Oil Ministry statements<\/a>. Anton expressed interest in learning more about potential investments in Egypt, while <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptMOP\/posts\/pfbid02MWXwtbz6TA5UpnGPUuLy3zuuFWKdx6Sjsqgtsuj1UxiXZq5c79jksX6t1Zm9PRwBl\" style=\"\" rel=\"noopener\">Mubadala said<\/a> that it was considering participating in the Egyptian Natural Gas Holding Company\u2019s tender launched in <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/9b3464fc-ef7b-4388-8ee0-a5b9c1c3a8e3\/abu-dhabi%25e2%2580%2599s-mubadala-energy-eyes%253cmark%253e-egas%253c%2Fmark%253e-exploration-tender.-plus:--egyptian-air-force-to-receive-two-c-130j-30-super-hercules-tactical-airlifters\" style=\"\" rel=\"noopener\">August<\/a>. Discussions with the companies took place on the sidelines of the ADIPEC 2024 conference in Abu Dhabi.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">(<strong>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<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>PLUS- Energean\u2019s USD 945 mn asset sale to Carlyle set to go through by year end:<\/strong> LSE-listed <a target=\"_blank\" href=\"https:\/\/www.energean.com\/\" style=\"\" rel=\"noopener\">Energean<\/a> confirmed in a <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptMOP\/posts\/pfbid02nRvuJuuHRMAS1GkU34hquKTu4odoEf9XZn3EDfM7wUt3DtkAMsM3FGyf4jvtsSvwl\" style=\"\" rel=\"noopener\">meeting<\/a> with Oil Minister Karim Badawi that the <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/35064806-85d5-4cca-bacc-ecec5128a6c5\/%253cmark%253ecarlyle%253c%2Fmark%253e-to-launch-mediterranean-energy-company-with-usd-945-mn-acquisition-of-energean%25e2%2580%2599s-egyptian,-croatian,-and-italian-assets\" style=\"\" rel=\"noopener\">USD 945 mn sale<\/a> of its Egyptian, Croatian, and Italian assets to global investment firm Carlyle is set to go through by the end of the year.<\/p>\n<p class=\"tag-border-left\">MINING- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>New global mining tender to launch before year end: <\/strong>Egypt is set to launch a global tender for gold mining and exploration at approximately 200 sites in the Eastern Desert by the end of the year, <a target=\"_blank\" href=\"https:\/\/www.asharqbusiness.com\/wealth\/59239\/%D9%85%D8%B5%D8%B1-%D8%AA%D8%B7%D8%B1%D8%AD-%D9%85%D8%B2%D8%A7%D9%8A%D8%AF%D8%A9-%D8%B9%D8%A7%D9%84%D9%85%D9%8A%D8%A9-%D9%84%D9%84%D8%AA%D9%86%D9%82%D9%8A%D8%A8-%D8%B9%D9%86-%D8%A7%D9%84%D8%B0%D9%87%D8%A8-%D9%81%D9%8A-200-%D9%85%D9%86%D8%B7%D9%82%D8%A9-%D9%82%D8%B1%D9%8A%D8%A8%D8%A7\/\" style=\"\" rel=\"noopener\">Asharq Business<\/a> reports, citing an anonymous government official. The tender will kick off once the House approves the <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/4c561960-2f7a-4568-a4c9-11f0b54dc116\/oil-ministry-reaches--framework-mining-agreement-with-centamin,-barrick\" style=\"\" rel=\"noopener\">pending contract<\/a> for Centamin and Canadian company Barrick Gold\u2019s mineral exploitation areas in the Eastern Desert, initially awarded in 2021.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember:<\/strong> We first heard about the tender back in <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/179241f9-d98f-4163-8f84-1ed70cc00d93\/gov%25e2%2580%2599t-wants-to-set-up-a-pharma-raw-material-hub.-plus:-news-from-opay,-telecom-egypt,-madinet-masr\" style=\"\" rel=\"noopener\">August<\/a>, with unnamed officials telling Al Mal that the government was preparing to launch an international tender for mineral exploration in Sinai, the Eastern Desert, and the Western Desert before the end of the year. The move comes amid a broader push to develop our mining sector, with Oil Minister Karim Badawi saying <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/94628b33-bb46-4e5b-9032-6b821a8936e8\/it%25e2%2580%2599s-the-last-week-of-daylight-savings-time\" style=\"\" rel=\"noopener\">last month<\/a> that the government is preparing a new mining strategy that it plans to unveil next month at the <a target=\"_blank\" href=\"https:\/\/miningconferences.org\/?gad_source=1&gclid=Cj0KCQjwpvK4BhDUARIsADHt9sTVcsDWTGxkNysGtI5XPnT0MFyamDuIerIl2V-j7l3upmN0pJDOSNoaAjLGEALw_wcB\" style=\"\" rel=\"noopener\">Mining World Conference 2024<\/a> in London. This follows July\u2019s <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/6d572f59-2b27-4be1-a417-368f671f8ad3\/here%25e2%2580%2599s-what-you-missed-from-day-one-of-the-egypt%253cmark%253e-mining-forum%253c%2Fmark%253e\" style=\"\" rel=\"noopener\">Egypt Mining Forum<\/a>, which saw a number of protocols signed to explore and develop our potential mineral resources.<\/p>\n<p class=\"tag-border-left\"> REAL ESTATE-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Bonyan plans to acquire additional office spaces next year:<\/strong> Compass Capital real estate subsidiary Bonyan is planning on purchasing new administrative buildings next year and acquiring warehouses to lease to companies across different sectors at an undisclosed timeline, CEO Shamel Aboul Fadl told <a target=\"_blank\" href=\"https:\/\/www.alborsaanews.com\/2024\/11\/05\/1840395\" style=\"\" rel=\"noopener\">Al Borsa<\/a>. The company will fund the purchases using funds acquired from its recent capital increase.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">M&A WATCH-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>An offer for OFH\u2019s fintech arm Klivvr<\/strong><strong>: <\/strong>Orascom Financial Holding (OFH) has received an offer for its entire 98.99% stake in fintech player Klivvr, according to an <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/11\/571.pdf\" style=\"\" rel=\"noopener\">EGX disclosure (pdf)<\/a>. The offer came from a company dubbed Klivvr Holding, which offered to buy OFH\u2019s 59.4 mn shares at EGP 11.1 apiece, putting the total transaction value at EGP 658.7 mn. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ICYMI- <\/strong>Selling off OFH\u2019s stake in Klivvr has been on the agenda since B Investments <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/06c1b449-2601-4a3a-8415-e439ad2273ec\/%253cmark%253eb-investments%253c%2Fmark%253e-to-soon-snap-up-a-70%2525-stake-in-orascom-financial-holding.-plus:-al-ahly-capital-holding-acquires-51%2525-stake-in-easy-lease\" style=\"\" rel=\"noopener\">acquired<\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/06c1b449-2601-4a3a-8415-e439ad2273ec\/%253cmark%253eb-investments%253c%2Fmark%253e-to-soon-snap-up-a-70%2525-stake-in-orascom-financial-holding.-plus:-al-ahly-capital-holding-acquires-51%2525-stake-in-easy-lease\" style=\"\" rel=\"noopener\">70% of the holding company<\/a> earlier this year in a share swap agreement. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">EARNINGS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Alex Container and Cargo Handling saw its net income rise 88% y-o-y <\/strong>to EGP 1.8 bn during the first quarter of FY 2024-2025, according to the company\u2019s <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/11\/552.pdf\" style=\"\" rel=\"noopener\">earnings release (pdf)<\/a>. The EGX-listed company\u2019s revenues grew 75% y-o-y during the same period to EGP 1.9 bn.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">ALSO WORTH NOTING- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- Medical Packaging Company is <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.alborsaanews.com\/2024\/11\/05\/1840342\" style=\"\" rel=\"noopener\">looking to invest up to EGP 140 mn<\/a><\/strong><strong> to add three new <\/strong><strong>production lines<\/strong> to its operations. The company is in advanced talks with three banks to secure the necessary funds for the new lines. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- Telecom Egypt and Alcatel Submarine Networks <\/strong><strong><a target=\"_blank\" href=\"https:\/\/ir.te.eg\/en\/CorporateNews\/PressRelease\/208\/Telecom-Egypt-Announces-Africa-1-Subsea-Cable-System-Landing-in-Egypt\" style=\"\" rel=\"noopener\">have completed the landing<\/a><\/strong> of the Africa-1 subsea cable system at the Ras Ghareb cable landing station. The second landing will be on Egypt\u2019s Mediterranean and will \u201cenhance global connectivity by providing diversity and resiliency while significantly bolstering broadband traffic capacity.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#3- Helping KSA with its localization push:<\/strong> Elsewedy Electric <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/posts\/ahmed-elsewedy-a16132194_energy-energytransition-elsewedyelectricksa-activity-7259889041624473600-Fdpj\/?utm_source=share&utm_medium=member_desktop\" style=\"\" rel=\"noopener\">partnered with KSA\u2019s<\/a><a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/posts\/ahmed-elsewedy-a16132194_energy-energytransition-elsewedyelectricksa-activity-7259889041624473600-Fdpj\/?utm_source=share&utm_medium=member_desktop\" style=\"\" rel=\"noopener\">Abunayyan Holding<\/a> to produce high and extra-high voltage power transformers in the Saudi market. The company also launched a procurement tender with Saudi Electricity Company for the domestic production of medium-voltage cable accessories. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>PLUS- Energean\u2019s USD 945 mn asset sale to Carlyle set to go through by year end<\/p>\n","protected":false},"author":1,"featured_media":654766,"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":[111,140,152,198,93,72,556,373,1553,91,553,212],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-654765","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-also-on-our-radar","tag-also-on-our-radar","tag-b-investments","tag-elsewedy-electric","tag-energean","tag-energy","tag-enterpriseam","tag-klivvr","tag-mining","tag-mubadala","tag-oil-and-gas","tag-orascom-financial-holding","tag-telecom-egypt","wpautop","entry"],"acf":{"mongo_id":"682ef74b-44d8-4332-8c59-a35e717976dd","order":"13","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/10\/1027.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Global firms are interested in Egypt\u2019s oil sector","related_issue":[654742],"teaser":"PLUS- Energean\u2019s USD 945 mn asset sale to Carlyle set to go through by year end","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/11\/.e0941e1f-2ec1-4943-9ac2-4608b5bfd550.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>Global firms are interested in Egypt\u2019s oil sector. PLUS: News from Bonya, Alex Container, Telecom Egypt - 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\/11\/07\/global-firms-are-interested-in-egypts-oil-sector-plus-news-from-bonya-alex-container-telecom-egypt\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Global firms are interested in Egypt\u2019s oil sector. 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