{"id":672769,"date":"2025-09-30T00:00:00","date_gmt":"2025-09-30T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2025\/09\/30\/uaes-dragon-oil-was-awarded-the-north-july-oil-concession\/"},"modified":"2025-09-30T00:00:00","modified_gmt":"2025-09-30T00:00:00","slug":"uaes-dragon-oil-was-awarded-the-north-july-oil-concession","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2025\/09\/30\/uaes-dragon-oil-was-awarded-the-north-july-oil-concession\/","title":{"rendered":"UAE\u2019s Dragon oil was awarded the North July oil concession"},"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>#1- UAE\u2019s Dragon Oil was awarded the North July oil concession<\/strong>, northeast of the Gulf of Suez, <a target=\"_blank\" href=\"https:\/\/asharqbusiness.com\/power\/100265\/%D8%AF%D8%B1%D8%A7%D8%AC%D9%88%D9%86-%D8%A3%D9%88%D9%8A%D9%84-%D8%AA%D9%81%D9%88%D8%B2-%D8%A8%D8%AD%D9%82-%D8%A7%D8%B3%D8%AA%D9%83%D8%B4%D8%A7%D9%81-%D8%A7%D9%84%D9%86%D9%81%D8%B7-%D9%81%D9%8A-%D8%AD%D9%82%D9%84-%D8%B4%D9%85%D8%A7%D9%84-%D9%8A%D9%88%D9%84%D9%8A%D9%88-%D8%A8%D9%85%D8%B5%D8%B1\/\" style=\"\" rel=\"noopener\">Asharq Business<\/a> reports, citing a government official. The agreement, expected to be signed before year-end, will run for six years and commits Dragon Oil to invest at least USD 20 mn, including drilling up to three wells. Production is slated to begin within two years of signing. <\/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>REMEMBER-<\/strong> Three energy firms \u2014 Dragon Oil, drilling giant Ades Holding, and local energy player Cheiron \u2014 were <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/718cafd4-7694-46fd-b30a-14c3bbb7218a\/oil-ministry-confirms:-gas-supplies-secured\" style=\"\" rel=\"noopener\">all vying<\/a> for the concession.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Dragon has the edge: <\/strong>The field is located near the Gulf of Suez Petroleum Company\u2019s production facilities, in which Dragon Oil is a shareholder, a key factor that an official says could speed up development and output timelines.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- Egypt, Greece wrap up GREGY studies:<\/strong> Egypt and Greece signed an agreement to conclude the technical and economic studies for the 3 GW <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/3aee177f-9de0-4fb4-9b23-27b1f439ad07\" style=\"\" rel=\"noopener\">Egypt-Greece Interconnector<\/a> (GREGY), according to a <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid0y7ZA1arPTfRB8C6TiEbRk1ZLJmXXEqg5EL5ViRJbW4G7eYdQsPSr3r4XBrBLi6z1l\" style=\"\" rel=\"noopener\">statement<\/a> from the Electricity Ministry. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER-<\/strong> Work on GREGY is slated to begin before the <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/3aee177f-9de0-4fb4-9b23-27b1f439ad07\" style=\"\" rel=\"noopener\">end of 2H 2025<\/a>, with EUR 1 bn in <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/183954ef-4dc7-49c8-9499-743e77de1e74\/\" style=\"\" rel=\"noopener\">financing expected<\/a> from European lenders. The link will channel up to 3 GW of electricity from Egypt to Europe via the Greek grid, with 1 GW earmarked for Greece and the rest set to reach countries like Germany and Italy. The link-up is part of Egypt\u2019s wider plan to boost total interconnection capacity to <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/682a375b-cd9e-4c38-9f81-0378ff22fd87\/gov%25e2%2580%2599t-targets-3.9-gw-in-regional-power-interconnections-by-2026\" style=\"\" rel=\"noopener\">3.9 GW by 2026<\/a>, up from 790 MW last year.<\/p>\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>#1- ECA clears Moody\u2019s to take control of Meris:<\/strong> The Egyptian Competition Authority (ECA) has approved Moody\u2019s acquisition of a 35% stake in Middle East Rating & Investors Service (Meris), giving the New York-based credit rating giant the ability to exercise sole control over Egypt\u2019s only domestic credit rating agency, according to an <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCompetitionAuthorityECA\/posts\/pfbid02gCC6fBuRhZG6Bz6zqu8EK1GZL99XthukvXYSBnLS4AK8yNrVxLDB3d2Q9AaqRgvpl\" style=\"\" rel=\"noopener\">ECA statement<\/a>. The competition watchdog said it received the full filing at the start of September and granted it the clearance.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER-<\/strong> Moody\u2019s announced it was looking to raise its stake in Meris to a majority holding <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/c518e51d-1ec5-4e2b-a4e9-426bf631aa51\/moody%25e2%2580%2599s-seeks-majority-stake-in-local-credit-rating-agency%253cmark%253e-meris%253c%2Fmark%253e\" style=\"\" rel=\"noopener\">in August<\/a>, as part of a push to broaden its presence in the region. The rating agency, which was set up in 2003 as a joint venture between Moody\u2019s and local consultant Finance and Banking Consultants International (FinBi), issues domestic credit ratings for banks, companies, and structured finance transactions.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- What\u2019s the fair value of Cairo Educational Services? <\/strong>Karvy Financial has put Cairo for Educational Services\u2019 fair value at EGP 29.9-30.9, according to an EGX <a target=\"_blank\" href=\"https:\/\/ent.news\/2025\/9\/1734.pdf\" style=\"\" rel=\"noopener\">disclosure (pdf)<\/a>. This makes CIRA\u2019s offer price of EGP 32.7 a roughly 5.8% premium, by our math.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER-<\/strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/6dce0a25-b52c-4623-b3d0-5a9cb89a5a15\/fra-approves-cira%e2%80%99s-bid-for-90%25-of-cairo-educational-services\" style=\"\" rel=\"noopener\">Last month<\/a>, the FRA cleared CIRA\u2019s bid to raise its stake in Cairo Educational Services to 90% through a mandatory tender offer covering 20.6% of the company at EGP 32.7 per share, valuing the transaction at EGP 80.8 mn. The MTO is <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a4d0752e-06cd-49a5-afea-129633c549b9\/%253cmark%253ecira%253c%2Fmark%253e-gets-green-light-to-extend-mto-for-caed\" style=\"\" rel=\"noopener\">valid<\/a> until 13 October. <\/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\">REAL ESTATE- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Madinet Masr<\/strong><strong> will set up development companies abroad with initial <\/strong><strong>investments of USD 5 mn<\/strong> after its board approved the move, the company said in an <a target=\"_blank\" href=\"https:\/\/ent.news\/2025\/9\/1746.pdf\" style=\"\" rel=\"noopener\">EGX disclosure (pdf)<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ALSO FROM MADINET MASR- <\/strong>The local real estate developer inked a strategic partnership agreement with local design studio Qubix to set up Tajed\u2019s first commercial and entertainment hub, called The Prism, set to be completed by the end of 2026. It inked another agreement with fitness brand LA7 to open a 5.4k sqm integrated health, wellness, and sports complex \u2014 its largest branch yet \u2014 in Tajed, set to begin operations in 1Q 2027. <\/p>\n<p class=\"tag-border-left\">DIPLOMACY - <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Emirati President Sheikh Mohamed bin Zayed Al Nahyan was in town for a <\/strong><strong>one-day visit<\/strong>, where <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/Egy.Pres.Spokesman\/posts\/pfbid02MWAwWGmNrufMWMFEuEgKzZGXp95fS9vZ6729vGwch12knLMwyvAGBEZSLitu2ENNl\" style=\"\" rel=\"noopener\">he met with President Abdel Fattah El Sisi<\/a> and discussed Egypt-bound Emirati investments and economic ties between the two nations.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>PLUS- Madinet Masr will set up development companies abroad with initial investments of USD 5 mn<\/p>\n","protected":false},"author":1,"featured_media":672770,"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":[111,402,549,244,93,72,7111,7128,7203,91,83],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-672769","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-also-on-our-radar","tag-also-on-our-radar","tag-cira-education","tag-egyptian-competition-authority","tag-electricity","tag-energy","tag-enterpriseam","tag-infrastructure","tag-ma-watch","tag-madinet-masr","tag-oil-and-gas","tag-real-estate","wpautop","entry"],"acf":{"mongo_id":"2140fe71-ae0f-4563-af35-d387953de667","order":"11","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2025\/9\/1775.jpg","photo_position":"above","homepage_title":"","full_issue_title":"UAE\u2019s Dragon oil was awarded the North July oil concession","related_issue":[672752],"teaser":"PLUS- Madinet Masr will set up development companies abroad with initial investments of USD 5 mn","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2025\/9\/.e9700f3b-a665-40c7-a360-27700989cd18.mp3"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - 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