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Wednesday, 22 March 2017

Is Egypt the most attractive market for independent oil companies?

Is Egypt the most attractive market for independent oil companies? That is the view taken by Gulf News, which said that the country is seeing the biggest wave of independents flocking to it in the Middle East. “Egypt is a well-known petroleum province, with a robust local oilfield services market, and strong infrastructure to capture all new production,” the newspaper says. The country has enabled many companies to come in during this current window and acquire resources. This has largely been due to some challenges around receivables from state oil and gas companies, issues which are being rectified. Gulf News lists Rockhopper Exploration, SDX Energy and Warburg Pincus’ Apex International Energy as but a few that have made acquisitions in the past several months and actively investing significant capital “into a country where they aim to establish a large resource base.”

Enterprise is a daily publication of Enterprise Ventures LLC, an Egyptian limited liability company (commercial register 83594), and a subsidiary of Inktank Communications. Summaries are intended for guidance only and are provided on an as-is basis; kindly refer to the source article in its original language prior to undertaking any action. Neither Enterprise Ventures nor its staff assume any responsibility or liability for the accuracy of the information contained in this publication, whether in the form of summaries or analysis. © 2022 Enterprise Ventures LLC.

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