Yemen News Agency (SABA)
Home      Revolution Leader   About President   Local   International   US-Saudi Aggression   Economy   Reports   development and community initiatives  
فارسي | Español | Deutsch | Français | عـربي | RSS Feed
Search | Advance Search
 
  Local
Armed forces target American aircraft carrier "Truman" for third time
[18 March 2025]
Important statement to armed forces at 3:40 a.m.
[18 March 2025]
Collective iftar in Hodeida brings together youth, media professionals, and activists
[18 March 2025]
Women's vigil in Raymah in solidarity with Gaza & commemorating battle of Badr
[18 March 2025]
Women's Authority in Hajjah holds rallies commemorating battle of Badr & reaffirming steadfast support for Gaza
[18 March 2025]
 
  International
Iran: We will respond firmly to any aggression against our territorial integrity and national security
[18 March 2025]
Injuries among Palestinians in clashes with Zionist Enemy Forces North of Al-Khalil
[18 March 2025]
Hamas calls on mediators to urgently intervene to stop Zionist enemy crimes
[18 March 2025]
Jordanian King warns of continued Israeli escalation in West Bank
[18 March 2025]
Syria: Two Takfiri Group Killed Hold Foreign Nationalities
[18 March 2025]
 
  Reports
Due to Enemy's Intransigence & Determination to Strangle Gaza, Yemen Resumes Navigation Ban on Israeli Ships
[18 March 2025]
America & Terrorism in the Middle East... Yemen Model of Resistance to Hegemony and Chaos
[18 March 2025]
Activating multipurpose cooperatives is essential step toward local development
[17 March 2025]
Greater Quds" is Israeli enemy's project: More space for annexation & fewer Palestinians
[17 March 2025]
Capital, Sana'a,... Ongoing & Efforts for Maintenance & Restoration of Streets
[16 March 2025]
 
  US-Saudi Aggression
US-Saudi-Emirati crimes on this day in history
[17 March 2025]
US-Saudi-Emirati crimes on this day in history
[16 March 2025]
US-Saudi-Emirati crimes on this day in history
[15 March 2025]
US-Saudi-Emirati crimes on this day in history
[13 March 2025]
US-Saudi-Emirati crimes on this day in history
[12 March 2025]
  Economy
Egypt grants Russian company petroleum concession in strategic area
Egypt grants Russian company petroleum concession in strategic area
Egypt grants Russian company petroleum concession in strategic area
[Tue, 11 Feb 2025 14:29:35 +0300]


Cairo - Saba:
Egyptian media revealed, on Monday, that Egypt has agreed to grant a Russian company a petroleum concession in a strategic area, after the latter submitted an offer of more than $20 million.

The Egyptian newspaper "Al Mal" quoted unnamed senior sources as saying in statements that the Egyptian government, represented by the Ministry of Petroleum and the South Valley Holding Company, granted the Russian company "Lukoil" the rights to exploit the "South Valley Al-Sahel" petroleum concession, west of the Gulf of Suez, by direct order.

The mechanism of the direct order differs from the traditional bidding system, which allows companies to submit comprehensive offers to obtain specific concession areas, which are evaluated by the competent authorities, for acceptance or rejection.

According to reports, the Russian company "Lukoil" submitted an offer to the Egyptian government that includes pumping investments worth a minimum of $22.5 million, with its commitment to drill 6 exploratory wells distributed over two periods of research and exploration.

The agreement came after a meeting between the Egyptian Minister of Petroleum, Tarek El Molla, and the Vice President of the Russian company "Lukoil", Ivan Romanovsky.

It is noteworthy that the Russian company "Lukoil" concession areas in Egypt include several sites, including the Maliha area in the Western Desert, where it owns a 24% stake in partnership with the Italian company "Eni", as well as the West Esh El Malaha area and its extensions in partnership with the Egyptian company "Tharwa Petroleum" with a percentage of 50% for each party.



Whatsapp
Telegram
Print

  more of (Economy)
UPDATED ON :Tue, 18 Mar 2025 03:43:49 +0300