{"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":"","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) - 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