Sep 26, 2017 Last Updated 8:34 AM, Sep 26, 2017

Eni acquires Egyptian exploration blocks

ABN – Rome-headquartered Eni (NYSE: E) has signed new concession agreements for two exploration blocks in the Egyptian Mediterranean.

Eni continues to strengthen its position in Egypt as it was also recently awarded the Southwest Meleiha Block.

The new exploration blocks, North Leil and Karawan, were both won as a result of the EGAS 2013 bid round.

Eni holds 100% equity in the North Leil block but only 50% equity in the Karawan block as the company partners with BP (LSE, NYSE: BP) on the project.

IEOC, Eni’s subsidiary, will operate the two blocks that are located in the deepwater offshore Mediterranean.

The company has had a presence in Egypt since 1954 and is the main producer of oil in the country.

@ABNetworkOnline

Morocco awards 350MW solar capacity

ABN – The Moroccan Agency for Solar Energy has awarded ACWA Power International and Sener Ingenieria y Sistemas SA with a contract to develop 350 megawatts of solar plants near Ouarzazate, Morocco.

The facilities will be two of the largest solar thermal power plants in the world and are part of the country’s plans to install 2,000 megawatts of solar capacity by 2020.

Both facilities will use technology that concretes sunlight using mirrors to create steam to power turbines.

The first US$1 billion 160 megawatt NOOR I facility will be developed by ACWA and will include a solar tower with up to eight hours of storage.

Sener Ingenieria y Sistemas SA will develop the 200 megawatt NOOR II facility, which will be a parabolic trough plant with seven hours of storage.

@ABNetworkOnline

CMEC to construct Angolan electricity plant

ABN – China Machinery Engineering Corporation (CMEC) will construct a US$982 million combined-cycle electricity plant in Soyo, Angola.

The power plant is part of the Public Investments Programme, which aims to boost the socio-economic development of the country.

It is also part of the government’s project to reduce the Angolan energy deficit by 2017.

Angola president’s office said in a statement: “CMEC will begin construction of a power plant in Soyo, after receiving the first instalment of $147.7 million from the Strategic Financial Oil Reserve for Basic Infrastructure.”

The plant will be built based on the growth forecasts for electricity demand in Angola.

@ABNetworkOnline

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