{"id":692095,"date":"2026-04-06T00:00:00","date_gmt":"2026-04-06T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?p=692095"},"modified":"2026-04-06T03:54:04","modified_gmt":"2026-04-06T03:54:04","slug":"dragon-oil-places-usd-3-bn-on-gulf-of-suez-revival","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2026\/04\/06\/dragon-oil-places-usd-3-bn-on-gulf-of-suez-revival\/","title":{"rendered":"Dragon Oil places USD 3 bn on Gulf of Suez revival"},"content":{"rendered":"<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">Dragon Oil doubles down on Egypt with USD 3 bn investment plan<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Dragon<\/strong><strong> Oil is \u201ccommitted to investing no less than USD 3 billion in the next<\/strong><strong> few years, God willing,\u201d <\/strong>CEO Abdulkarim Almaazmi told the Oil Ministry\u2019s Petrocast podcast (<a target=\"_blank\" href=\"https:\/\/www.facebook.com\/reel\/864971823300948\" style=\"\">watch, runtime; 7:42<\/a>). Almaazmi is bullish on their Gulf of Suez presence, pointing to the Emirati company\u2019s recent discovery at the <strong>North Safa field \u2014 the first in two decades \u2014 followed by another discovery at its East Crystal-1 well as evidence of the area\u2019s investment potential.<\/strong><\/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\">PRE Group plans 10k-key hospitality expansion through global partnerships<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>PRE<\/strong><strong> Group is preparing to sign agreements with eight international hotel <\/strong><strong>brands to develop and operate eight hotels<\/strong>, adding nearly 10k rooms and serviced units to its hospitality capacity, according to a company <a target=\"_blank\" href=\"https:\/\/ent.news\/2026\/4\/223.pdf\" style=\"\">statement (pdf)<\/a>. The planned expansion includes around 4k hotel rooms and 6k serviced apartments, spanning projects across East and West Cairo, the North Coast, Ain Sokhna, and Marsa Alam, including Hadaba, Ivoire East and West, BBD, Telal North Coast, and Telal Sokhna.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What\u2019s next? <\/strong>The first phase is expected to begin with three hotels in Ain Sokhna, with initial operations targeted within around 18 months.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Plus: PRE Group plans 10k-key hospitality expansion through global partnerships<\/p>\n","protected":false},"author":1,"featured_media":692096,"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":[7209],"tags":[111,925,93,72,955,91],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-692095","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-also-on-our-radar","tag-also-on-our-radar","tag-dragon-oil","tag-energy","tag-enterpriseam","tag-hospitality","tag-oil-and-gas","wpautop","entry"],"acf":{"mongo_id":"5ddf585b-7955-427e-b5e0-2069e3188ba2","order":"10","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2025\/9\/1775.jpg","photo_position":"above","homepage_title":"","full_issue_title":"A USD 3 bn vote of confidence in Gulf of Suez energy prospects","related_issue":[692078],"teaser":"Plus: PRE Group plans 10k-key hospitality expansion through global partnerships"},"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>Dragon Oil places USD 3 bn on Gulf of Suez revival - 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\/2026\/04\/06\/dragon-oil-places-usd-3-bn-on-gulf-of-suez-revival\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Dragon Oil places USD 3 bn on Gulf of Suez revival\" \/>\n<meta property=\"og:description\" content=\"Plus: PRE Group plans 10k-key hospitality expansion through 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Dragon Oil to invest EGP 1 bn in newly acquired Gulf of Suez assets: Emirates National Oil Company\u2019s (ENOC) subsidiary Dragon Oil is planning to invest up to EGP 1 bn over the next five years after acquiring BP\u2019s stake in Egypt\u2019s Gulf of Suez oil concessions,\u2026","rel":"","context":"In &quot;Speed Round&quot;","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":569240,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/02\/18\/dragon-oil-to-invest-usd-650-mn-in-egypt-over-five-years\/","url_meta":{"origin":692095,"position":1},"title":"Dragon Oil to invest USD 650 mn in Egypt over five years","author":"enterpriseam admin","date":"18 February 2020","format":false,"excerpt":"INVESTMENT WATCH- Dragon Oil to invest USD 650 mn in Egypt over the next five years: UAE-based oil and gas company Dragon Oil plans to invest an additional USD 650 mn in Egypt over the next five years by acquiring operating assets in the Western Desert, COO Tayeb Huwair told\u2026","rel":"","context":"In &quot;Speed Round&quot;","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\/237.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":598784,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/06\/09\/dragon-oil-agrees-to-acquire-bps-gupco-assets\/","url_meta":{"origin":692095,"position":2},"title":"Dragon Oil agrees to acquire BP\u2019s GUPCO assets","author":"enterpriseam admin","date":"9 June 2019","format":false,"excerpt":"M&A WATCH- Dragon Oil agrees to acquire BP\u2019s Gulf of Suez assets: BP reached an agreement to divest its interests in Gulf of Suez oil concessions in Egypt to Emirates National Oil Company\u2019s (ENOC) subsidiary Dragon Oil, BP said in a statement. Under the terms of the agreement, which is\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2019\/1\/2424.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":567140,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/01\/14\/dragon-oil-completes-acquisition-of-bp-gulf-of-suez-assets\/","url_meta":{"origin":692095,"position":3},"title":"Dragon Oil completes acquisition of BP Gulf of Suez assets","author":"enterpriseam admin","date":"14 January 2020","format":false,"excerpt":"M&A WATCH- Dragon Oil completes USD 500 mn acquisition of BP\u2019s Gulf of Suez assets: Emirates National Oil Company (ENOC) subsidiary Dragon Oil has wrapped up its acquisition of BP\u2019s Gulf of Suez asset for USD 500 mn, the Oil Ministry said in a statement (pdf). A conflicting report by\u2026","rel":"","context":"In &quot;Speed Round&quot;","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":543747,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/02\/16\/were-getting-more-gas-from-israel-dragon-strikes-oil\/","url_meta":{"origin":692095,"position":4},"title":"We\u2019re getting more gas from Israel + Dragon strikes oil","author":"enterpriseam admin","date":"16 February 2022","format":false,"excerpt":"Israel will increase its natural gas exports to Egypt by up to 50% by the end of February, Israeli Energy and Water Minister Karine Elharrar has said, according to Bloomberg. Chevron and Delek Drilling, which operate Israel\u2019s two biggest offshore reservoirs \u2014 the Tamar and Leviathan gas fields \u2014 will\u2026","rel":"","context":"In &quot;Energy&quot;","block_context":{"text":"Energy","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/energy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/2\/219.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":592238,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/08\/02\/mienta-to-invest-usd-5-mn-in-new-factory-in-sczone-plus-news-from-the-national-dialogue-dragon-oil-heliopolis-housing-banknbox\/","url_meta":{"origin":692095,"position":5},"title":"Mienta to invest USD 5 mn in new factory in SCZone. 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