{"id":14815,"date":"2025-03-21T08:03:33","date_gmt":"2025-03-21T08:03:33","guid":{"rendered":"https:\/\/www.oilnewskenya.com\/?p=14815"},"modified":"2025-04-02T08:14:05","modified_gmt":"2025-04-02T08:14:05","slug":"egypt-energean-announces-termination-of-strategic-sale-of-abu-qir-north-east-almreya-and-north-idku-concessions","status":"publish","type":"post","link":"https:\/\/www.oilnewskenya.com\/index.php\/egypt-energean-announces-termination-of-strategic-sale-of-abu-qir-north-east-almreya-and-north-idku-concessions\/","title":{"rendered":"EGYPT: Energean Announces Termination of Strategic Sale of Abu Qir, North East Almreya and North Idku Concessions"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">Energean has provided an update on the proposed sale of its portfolio in Egypt to an entity controlled by Carlyle International Energy Partners.<br><br>Energean says it has not been able to reach agreement with Carlyle to extend the longstop date<br>beyond 20 March 2025.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Accordingly, the Company has today terminated the SPA and will no longer proceed with the Transaction.<br>Energean will provide an update to the market in its May Trading Statement &amp; Operational Update which will contain:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Updated 2025 production and financial guidance for the Group perimeter (including Egypt, Italy and<br>Croatia).<\/li>\n\n\n\n<li>A strategy update on the forward-plan opportunities for the Egypt, Italy and Croatia assets.<\/li>\n\n\n\n<li>The Group\u2019s new dividend policy (as previous envisaged to be announced upon Transaction closing or termination).<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Mathios Rigas, Chief Executive of Energean, commented:<br><\/strong><em>\u201cToday, we are announcing the termination of our transaction with Carlyle. This decision was made in the best interests of all our stakeholders, including our employees, investors, host governments, and partners. These groups rely on clarity of ownership and responsible stewardship to ensure the effective management of our vital oil and gas assets, and we remain fully committed to meeting these expectations.<br>\u201cWhile I am disappointed that Carlyle was unable to obtain the necessary approvals in Italy and Egypt under the terms of the SPA, I want to reaffirm that this outcome does not change our strategic direction or our commitment to growth and shareholder returns. Energean remains a strong, diversified oil and gas company, and we are excited to continue building on our successes.<br>\u201cItaly, Egypt and Croatia will remain core pillars of our operations, and we look forward to driving further<br>investment, development, and value creation in all countries. Our commitment to the Mediterranean and the wider region is unwavering, and we will<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Energean has provided an update on the proposed sale of its portfolio in Egypt to an entity controlled by Carlyle International Energy Partners. Energean says it has not been able &hellip; <a href=\"https:\/\/www.oilnewskenya.com\/index.php\/egypt-energean-announces-termination-of-strategic-sale-of-abu-qir-north-east-almreya-and-north-idku-concessions\/\" class=\"more-link\">Read More<\/a><\/p>\n","protected":false},"author":24,"featured_media":14816,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[7442,7446,11],"tags":[8928,709,8366,11892,11893],"class_list":["post-14815","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-countries","category-north-africa","category-top-news","tag-abu-qir","tag-egypt","tag-energean","tag-north-east-almreya","tag-north-idku-concession","entry"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2025\/04\/Egypt-Energean-Assets.png?fit=779%2C832&ssl=1","jetpack_shortlink":"https:\/\/wp.me\/p5JWkQ-3QX","jetpack-related-posts":[{"id":9738,"url":"https:\/\/www.oilnewskenya.com\/index.php\/egypt-energean-reaches-final-investment-decision-north-el-amriya-and-north-idku-concession-subsea-tieback-project\/","url_meta":{"origin":14815,"position":0},"title":"EGYPT: Energean Reaches Final Investment Decision on North El Amriya and North Idku Concession Subsea Tieback Project","author":"","date":"January 23, 2021","format":false,"excerpt":"Energean plc is pleased to announce that Final Investment Decision has been taken on the North El Amriya and North Idku concession subsea tieback project in offshore Egypt. The NEA concession contains two discovered and appraised gas fields (Yazzi and Python) while the NI concession contains four discovered gas fields,\u2026","rel":"","context":"In &quot;North Africa&quot;","block_context":{"text":"North Africa","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/north-africa\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2021\/01\/EGYPT-NEA-NI.jpg?fit=935%2C421&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2021\/01\/EGYPT-NEA-NI.jpg?fit=935%2C421&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2021\/01\/EGYPT-NEA-NI.jpg?fit=935%2C421&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2021\/01\/EGYPT-NEA-NI.jpg?fit=935%2C421&ssl=1&resize=700%2C400 2x"},"classes":[]},{"id":13430,"url":"https:\/\/www.oilnewskenya.com\/index.php\/egypt-first-gas-delivered-at-north-el-amriya-and-north-idku\/","url_meta":{"origin":14815,"position":1},"title":"EGYPT: First Gas Delivered at North El Amriya and North Idku","author":"","date":"March 10, 2023","format":false,"excerpt":"The NEA\/NI development, located in shallow water, offshore Egypt, contains an estimated 39 mmboe[1]\u00a0of 2P reserves (88% gas) with net working interest production expected to peak at 15 - 20 kboed (88% gas) in 2024. The development leverages existing infrastructure and involves the subsea tieback of four wells to Energean's\u2026","rel":"","context":"In &quot;Countries&quot;","block_context":{"text":"Countries","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2023\/03\/EGYPT-NEA-NI.png?fit=815%2C753&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2023\/03\/EGYPT-NEA-NI.png?fit=815%2C753&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2023\/03\/EGYPT-NEA-NI.png?fit=815%2C753&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2023\/03\/EGYPT-NEA-NI.png?fit=815%2C753&ssl=1&resize=700%2C400 2x"},"classes":[]},{"id":9932,"url":"https:\/\/www.oilnewskenya.com\/index.php\/egypt-energean-egpc-jv-partners-award-nea-ni-iepci-contract-to-technipfmc\/","url_meta":{"origin":14815,"position":2},"title":"EGYPT: Energean, EGPC JV partners award NEA\/NI iEPCI\u2122 contract to TechnipFMC","author":"","date":"February 18, 2021","format":false,"excerpt":"Energean has announced that AbuQir Petroleum, a Joint Venture between Energean and EGPC, has signed an integrated EPCI iEPCI\u2122 contract to global offshore services provider TechnipFMC for a subsea tie-back located offshore Egypt. The contract covers the Engineering, Procurement, Construction, and Installation of four subsea wells as well as the\u2026","rel":"","context":"In &quot;Countries&quot;","block_context":{"text":"Countries","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2021\/02\/Energean-EGPC.jpg?fit=602%2C401&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2021\/02\/Energean-EGPC.jpg?fit=602%2C401&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2021\/02\/Energean-EGPC.jpg?fit=602%2C401&ssl=1&resize=525%2C300 1.5x"},"classes":[]},{"id":12871,"url":"https:\/\/www.oilnewskenya.com\/index.php\/egypt-bp-awarded-new-exploration-blocks-in-offshore-nile-delta\/","url_meta":{"origin":14815,"position":3},"title":"EGYPT: bp awarded new exploration blocks in Offshore Nile Delta","author":"","date":"November 28, 2022","format":false,"excerpt":"bp has been awarded two exploration blocks in the Mediterranean Sea, offshore Egypt by the Egyptian Natural Gas Holding Company. The Northwest Abu Qir Offshore Area - in which bp, the operator, holds 82.75% and Wintershall-Dea holds 17.25% - is located west of the recently awarded North King Mariout block\u2026","rel":"","context":"In &quot;Countries&quot;","block_context":{"text":"Countries","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2022\/11\/Egypt-northwest-abu-qir-offshore-area.jpg?fit=750%2C651&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2022\/11\/Egypt-northwest-abu-qir-offshore-area.jpg?fit=750%2C651&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2022\/11\/Egypt-northwest-abu-qir-offshore-area.jpg?fit=750%2C651&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2022\/11\/Egypt-northwest-abu-qir-offshore-area.jpg?fit=750%2C651&ssl=1&resize=700%2C400 2x"},"classes":[]},{"id":12914,"url":"https:\/\/www.oilnewskenya.com\/index.php\/egypt-welligence-energy-reports-gas-discovery-at-chevrons-nargis-1x-exploration-well\/","url_meta":{"origin":14815,"position":4},"title":"EGYPT: Welligence Energy Reports Gas Discovery at Chevron&#8217;s Nargis-1X exploration well","author":"","date":"December 6, 2022","format":false,"excerpt":"Welligence Energy Analytics has reported that\u00a0 Chevron has made a gas discovery in its successfully drilled first offshore well in Egypt. According to Wellifence the Nargis-1X exploration well has discovered 3.5 Tcf of gas. The Nargis block is operated by Chevron 45%, with partners Eni\u00a045%, and\u00a0Tharwa Petroleum Company (S.A.E.)\u00a010%. The\u2026","rel":"","context":"In &quot;Countries&quot;","block_context":{"text":"Countries","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2022\/12\/Egypt-Nargis-1X.jpg?fit=1200%2C681&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2022\/12\/Egypt-Nargis-1X.jpg?fit=1200%2C681&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2022\/12\/Egypt-Nargis-1X.jpg?fit=1200%2C681&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2022\/12\/Egypt-Nargis-1X.jpg?fit=1200%2C681&ssl=1&resize=700%2C400 2x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2022\/12\/Egypt-Nargis-1X.jpg?fit=1200%2C681&ssl=1&resize=1050%2C600 3x"},"classes":[]},{"id":12637,"url":"https:\/\/www.oilnewskenya.com\/index.php\/egypt-shell-egas-petronas-award-idku-energy-hub-project-feed-to-bechtel-led-coalition\/","url_meta":{"origin":14815,"position":5},"title":"EGYPT: Shell, EGAS &#038; Petronas Award Idku Energy Hub project FEED to Bechtel-led coalition","author":"","date":"September 13, 2022","format":false,"excerpt":"Shell Egypt, EGAS and Petronas have awarded a front-end engineering and design (FEED) contract to a Bechtel-led coalition that includes Enppi and Petrojet to study a proposed unified power system between the onshore gas processing plant of the West Delta Deep Marine (WDDM) gas fields in the Mediterranean Sea off\u2026","rel":"","context":"In &quot;Countries&quot;","block_context":{"text":"Countries","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2017\/06\/Bechtel_logo.png?fit=390%2C333&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"jetpack_sharing_enabled":true,"jetpack_likes_enabled":true,"_links":{"self":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts\/14815","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/users\/24"}],"replies":[{"embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/comments?post=14815"}],"version-history":[{"count":1,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts\/14815\/revisions"}],"predecessor-version":[{"id":14817,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts\/14815\/revisions\/14817"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/media\/14816"}],"wp:attachment":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/media?parent=14815"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/categories?post=14815"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/tags?post=14815"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}