Back to the complete issue
Thursday, 26 April 2018

Is Merlon looking to invest USD 55 mn next fiscal year?

INVESTMENT WATCH- Is Merlon looking to invest USD 55 mn next fiscal year? American oil outfit Merlon International is reportedly looking to spend USD 55 mn in Egypt next fiscal on exploration, Merlon JV PetroSilah Petroleum Chairman Taher Abdel Rahim told Al Shorouk. USD 20 mn will be allocated to drilling eight wells in its Feyoum concessions in FY2018-19, Abdel Rahim added. His statement comes amid reports that New York-based private equity firm Yorktown Partners is planning to sell Merlon to raise USD 400 mn.

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. © 2020 Enterprise Ventures LLC.