First Independent Mena Newspaper
Italian multinational oil and gas company Eni has sealed a Farm-Out Agreement with Chariot Oil & Gas, which enabled Eni to get operatorship and a 40 pc stake in the Rabat Deep Offshore exploration permits I-VI, Morocco’s offshore. The deal, which still needs approval of the Moroccan authorities, allows Eni to operate in an area […]
After the first plant of Noor-Ouarzazate solar complex in Morocco started operating few weeks ago, materializing the country’s efforts to boost renewable energy sources, reduce dependence on fossil fuels and become a green-power leader in the region and the world, neighboring Algeria unearthed its own renewable energy program. At a meeting Monday with some members […]
Morocco’s efforts to boost renewable energy sources, reduce dependence on fossil fuels and become a green-power leader took a step forward on Thursday with the entry into service of the first plant of Noor-Ouarzazate solar complex. The dedication of the Noor-I solar power plant was chaired by King Mohammed VI who also launched the construction […]
British Sound Energy has bought 25 pc stake in the Sidi Moktar project, which comprises three onshore gas permits in Morocco. The UK independent company has inked the £3.57 million deal with Maghreb Petroleum Exploration after initially agreeing the deal last October. The Sidi Moktar licences cover 2,700 square kilometres in the Essaouira basin, central […]
Moroccan Agency for Solar Energy (MASEN) has launched a new international tender for a large-scale solar power project, confirming the North African country’s resolve to become a green-power leader. The project will have a total installed capacity of 400 MW and will include systems based on solar photovoltaic as well as solar thermal power generation […]
The Egyptian government has obtained a German financial support for three power projects to be carried out under the supervision of German group Siemens, through their local partners Orascom Construction and El-Sewedy Electric. The three projects will cost $ 6.3 billion lent by Deutsche Bank, HSBC Germany and German Bank of Reconstruction (KfW). The loan […]
The European Bank for Reconstruction and Development (EBRD) has approved a US$ 200 million loan for the construction of a new 1.8 GW combined cycle gas-fired power plant in Damanhour, north west of Cairo. This loan will contribute to funding the US$ 1.3 billion total project cost, which is also being supported by the European […]
Dallas-based Kosmos Energy’s oil search in Mauritania once again led to the discovery of an offshore gas reservoir in a well located 60km north of the Tortue-1 gas discovery that opened the basin. The latest discovered field, described as “a large gas resource,” is preliminary estimated to have 5 trillion cubic feet of gross resources […]
Egyptian authorities are negotiating with Russian Company Rosatom for the construction of a nuclear power plant to enable the most populous country in the Arab world meet its growing energy demands. Talks are believed to be at their final stages and a deal is expected to be sealed by the end of 2015, according to […]
Egypt is seeking to get $1.5 billion loans from the World Bank and the African Development Bank as fears increase that the Egyptian pound would be devalued if the dwindling foreign currency reserves go below $15 billion. The country has been struggling since 2011 to stabilize its economy and finances shaken by the protests that […]