Back to the complete issue
Sunday, 14 October 2018

Egypt in line for a chunk of Dragon Oil’s USD 500 mn regional investment budget?

** #7 INVESTMENT WATCH- Egypt in line for a chunk of Dragon Oil’s USD 500 mn regional investment budget? Emirates National Oil Company (ENOC) subsidiary Dragon Oil is planning to invest about USD 500 mn next year in oil and gas assets as part of an international expansion strategy to boost its production to 300k bbl/d of oil by 2025, CEO Ali Rashid Al Jarwan told Reuters. The company is eyeing new opportunities in Turkmenistan, North Africa and Iraq, Al Jarwan said. “We are looking at Africa mainly, especially North Africa.” Dragon already has exploration blocks in Egypt, and ENOC Group CEO Saif Al Falasi said back in February that “Investing in Egypt’s market, the third largest in Africa, complements our business strategy to go beyond the UAE and our commitment to industry-leading performance.”

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.

Enterprise is available without charge thanks to the generous support of HSBC Egypt (tax ID: 204-901-715), the leading corporate and retail lender in Egypt; EFG Hermes (tax ID: 200-178-385), the leading financial services corporation in frontier emerging markets; SODIC (tax ID: 212-168-002), a leading Egyptian real estate developer; SomaBay (tax ID: 204-903-300), our Red Sea holiday partner; Infinity (tax ID: 474-939-359), the ultimate way to power cities, industries, and homes directly from nature right here in Egypt; CIRA (tax ID: 200-069-608), the leading providers of K-12 and higher level education in Egypt; Orascom Construction (tax ID: 229-988-806), the leading construction and engineering company building infrastructure in Egypt and abroad; Moharram & Partners (tax ID: 616-112-459), the leading public policy and government affairs partner; Palm Hills Developments (tax ID: 432-737-014), a leading developer of commercial and residential properties; Mashreq (tax ID: 204-898-862), the MENA region’s leading homegrown personal and digital bank; Industrial Development Group (IDG) (tax ID:266-965-253), the leading builder of industrial parks in Egypt; Hassan Allam Properties (tax ID:  553-096-567), one of Egypt’s most prominent and leading builders; and Saleh, Barsoum & Abdel Aziz (tax ID: 220-002-827), the leading audit, tax and accounting firm in Egypt.