{"id":657500,"date":"2024-12-22T00:00:00","date_gmt":"2024-12-22T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2024\/12\/22\/cheiron-is-looking-into-expanding-local-operations\/"},"modified":"2024-12-22T00:00:00","modified_gmt":"2024-12-22T00:00:00","slug":"cheiron-is-looking-into-expanding-local-operations","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2024\/12\/22\/cheiron-is-looking-into-expanding-local-operations\/","title":{"rendered":"Cheiron is looking into expanding local operations"},"content":{"rendered":"

\n

ENERGY-<\/p>\n

#1- Cheiron wants to expand operations in Egypt:<\/strong> Local energy giant Cheiron Energy is looking to expand its energy portfolio in Egypt, targeting new concessions and ramping up exploration to boost production, CEO Alan Linn said during a meeting<\/a> with Oil Minister Karim Badawi. <\/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> Cheiron recently secured a USD 80 mn loan<\/a> to fuel exploration operations, as part of its efforts to increase production by 20% in 2025.<\/p>\n

\n

\n

#2- Could KSA\u2019s Alqahtani Holding step into Egypt\u2019s energy sector? <\/strong>Saudi Arabia's Alqahtani Holding is in talks with the Oil Ministry to explore joint investments in petroleum, gas, and petrochemical projects, according to a ministry statement<\/a>. The group is working with Shard Capital and the Egyptian Petrochemicals Holding Company to set up a petrochemical complex in the New Alamein Industrial Zone.<\/p>\n

\n

\n

#3- The General Petroleum Company (GPC) has resumed production of its GYP <\/strong>field<\/strong>, following years of inactivity, according to a statement<\/a> from the Oil Ministry. The field is expected to produce some 1.5 mn barrels of oil in the coming three years. <\/p>\n

\n

MANUFACTURING-<\/p>\n

Unionaire Group Technology is developing an industrial complex<\/strong> dedicated to manufacturing home appliances exclusively for export, Vice Chairman Youssef Fathi said during a presser, according to Al Borsa<\/a>.The facility will bolster the group\u2019s efforts to expand its presence in Europe, starting with the UK, where it plans to establish a dedicated marketing and export subsidiary. The tech company will also diversify its product portfolio \u2014 expanding beyond air conditioners to include stoves, refrigerators, and washing machines soon. <\/p>\n

Also on the agenda: <\/strong>The company plans to partner up with Italian cooking appliance manufacturer Premium Company<\/a> to become its main agent in Egypt and produce its products locally. <\/p>\n

\n

EXPANSION-<\/p>\n

Korra Energi eyes regional expansion:<\/strong> Energy solutions firm Korra Energi has begun the procedures to expand into the Saudi and Iraqi markets, chairman Ayman Korra told Asharq Business<\/a>. The firm is looking into potential investments in Oman, he added.<\/p>\n

ALSO FROM KORRA-<\/strong> Korra inked a strategic partnership with Solariz Egypt for USD 50 mn joint solar energy projects, according to a press statement (pdf)<\/a>. The projects will have a total capacity of 100 MW and will serve the tourism and the industrial sectors, particularly energy-intensive industries targeting exports to Europe, such as fertilizers, petrochemicals, and building materials. <\/p>\n

\n

PAYMENTS-<\/p>\n

#1- Google Wallet is coming to Egypt <\/strong>next month, according to Google\u2019s wallet release notes<\/a>. The service is launching in Pakistan and Venezuela at the same time. The wallet offers a number of features, most notably the payments feature which functions similarly to how Apple Pay does, allowing users to use their phones to make payments. The wallet allows users to integrate loyalty cards, metro cards, entertainment tickets, and more into their online wallet. The launch of Google Wallet in Egypt will come shortly after Apple burst onto the local scene<\/a>.<\/p>\n

\n

\n

#2- Merchants within Paymob\u2019s network can now accept Apple Pay<\/strong>, the local fintech startup said in a statement<\/a>. Users can now make online and in-store payments through Apple Pay. <\/p>\n

\n

HOSPITALITY-<\/p>\n

Egyptian-Emirati alliance to revive tourism project in Morocco:<\/strong> A coalition led by Egyptian bn\u2019aire Samih Sawiris, tourism investor Hossam El Shaer, and Emirati investor and Al Nowais Investments and AMEA Power Chairman Hussain Al Nowais took over the Mogador tourism station in Morocco, Asharq Business<\/a> reports. The project was initially launched in 2004 but was never completed. <\/p>\n

The timeline:<\/strong> The investors intend to invest an initial USD 500 mn, Sawiris told Asharq, adding that if the project proves successful it could end up having a final investment ticket of USD 1.5 bn. <\/p>\n

ALSO FROM SAMIH SAWIRIS- <\/strong>Orascom Development Holding (ODH) decided to delist<\/a> from the SIX Swiss Exchange because it is not fairly valued in the Swiss market, Sawiris told Asharq Business<\/a>. The delisting will grant the company more flexibility and save the hefty cost that comes with listing on the Swiss Exchange. <\/p>\n

\n

TOURISM-<\/p>\n

Wait, so we\u2019re not renting the pyramids to Mr. Beast? <\/strong>Mega YouTuber Mr. Beast misspoke when he said<\/a> that he is renting the Giza Pyramids for 100 hours \u2014 the Tourism Ministry denied<\/a> the news, explaining that the YouTuber only secured a license to film at the Giza Pyramids outside official working hours.Jimmy (aka. Mr. Beast) has already completed filming for his project without disturbing the area. <\/p>\n

\n

BUSINESS-<\/p>\n

IWG wants to set up more workspaces locally: <\/strong>Swiss provider of coworking, office, and meeting spaces IWG<\/a> plans to establish 25 new locations in Egypt next year, in line with a target of 150 by 2030, according to a press release<\/a>. Alexandria, the new capital, and undisclosed cities along the Red Sea are all on IWG\u2019s 2025 list. <\/p>\n

What they said:<\/strong> \u201cCairo has emerged as a prime community for flexible workspace solutions. We recognize the unique seasonal work patterns in Egypt and are planning our expansion accordingly,\u201d said CEO for the Middle East & Africa at IWG Marc Descrozaille.<\/p>\n","protected":false},"excerpt":{"rendered":"

Cheiron recently secured a USD 80 mn loan to fuel exploration 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Cairn Energy have acquired Shell\u2019s oil and gas assets in the Western Desert under an agreement in March that could be worth up to USD 926 mn, the three companies announced in separate statements on Friday (here (pdf), here and\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\/2021\/9\/350.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":564954,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/03\/09\/cheiron-cairn-to-acquire-shell-egypts-onshore-assets\/","url_meta":{"origin":657500,"position":1},"title":"Cheiron, Cairn to acquire Shell Egypt\u2019s onshore assets","author":"enterpriseam admin","date":"9 March 2021","format":false,"excerpt":"Cheiron, Cairn to acquire Shell assets in a transaction worth up to USD 926 mn: Shell has agreed to sell its assets in the Western Desert to our friends at Egypt\u2019s Cheiron Petroleum Corporation and UK-listed Cairn Energy for up to USD 926 mn, the Dutch energy giant said in\u2026","rel":"","context":"In "SPEED ROUND: M&A WATCH"","block_context":{"text":"SPEED ROUND: M&A WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round-ma-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/3\/428.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":570698,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/04\/12\/cheiron-pharos-cairn-move-to-second-round-of-bidding-for-shell-egypt-onshore-assets\/","url_meta":{"origin":657500,"position":2},"title":"Cheiron, Pharos, Cairn move to second round of bidding for Shell Egypt onshore assets","author":"enterpriseam admin","date":"12 April 2020","format":false,"excerpt":"Cheiron consortium moves to second round of bidding for Shell Egypt onshore assets: A consortium of Cheiron, Pharos Energy and Cairn Energy has moved to a second round of bidding to acquire Shell\u2019s onshore assets in Egypt, Bloomberg reports, citing unnamed sources. Egypt\u2019s East Gas has also been invited to\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\/4\/101.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":664140,"url":"https:\/\/enterpriseam.com\/egypt\/2025\/04\/23\/shamrendra-singh-named-as-new-coo-of-cheiron\/","url_meta":{"origin":657500,"position":3},"title":"Shamrendra Singh named as new COO of Cheiron","author":"enterpriseam admin","date":"23 April 2025","format":false,"excerpt":"Singh brings two decades of upstream oil and gas leadership across India, the UK, Norway, and Egypt","rel":"","context":"In "Moves"","block_context":{"text":"Moves","link":"https:\/\/enterpriseam.com\/egypt\/category\/newsmakers\/moves\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2025\/4\/1465.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":557152,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/09\/08\/cairn-energy-expects-to-finalize-shell-egypt-acquisition-by-end-of-september\/","url_meta":{"origin":657500,"position":4},"title":"Cairn Energy expects to finalize Shell Egypt acquisition by end of September","author":"enterpriseam admin","date":"8 September 2021","format":false,"excerpt":"Cairn, Cheiron could replace Shell in the Western Desert before the month is out: Cairn Energy and partner Cheiron expect to finalize its takeover of Shell Egypt\u2019s onshore oil and gas assets by the end of September, Cairn said yesterday (pdf). The joint acquisition, which will see the assets split\u2026","rel":"","context":"In "M&A WATCH"","block_context":{"text":"M&A WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/ma-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/9\/102.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":572401,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/06\/23\/egypts-petrogulf-makes-new-oil-discovery-in-gulf-of-suezs-gisum-concession\/","url_meta":{"origin":657500,"position":5},"title":"Egypt\u2019s Petrogulf makes new oil discovery in Gulf of Suez\u2019s Gisum concession","author":"enterpriseam admin","date":"23 June 2020","format":false,"excerpt":"Petrogulf Misr \u2014 a JV between the Egyptian General Petroleum Company, the Kuwait Foreign Petroleum Exploration Company, and Cheiron \u2014 has made a shallow-water oil discovery in the Gulf of Suez that has an initial production level of 2k barrels of crude per day, the Oil Ministry said in a\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":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/657500","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=657500"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/657500\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/657487"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/657501"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=657500"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=657500"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=657500"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=657500"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=657500"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}