Egypt: EGAS Launches Bid for Gas Explorations in Mediterranean

An aerial view shows the newly arrived foundation platform of Leviathan natural gas field, in the Mediterranean Sea (File photo: Reuters)
An aerial view shows the newly arrived foundation platform of Leviathan natural gas field, in the Mediterranean Sea (File photo: Reuters)
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Egypt: EGAS Launches Bid for Gas Explorations in Mediterranean

An aerial view shows the newly arrived foundation platform of Leviathan natural gas field, in the Mediterranean Sea (File photo: Reuters)
An aerial view shows the newly arrived foundation platform of Leviathan natural gas field, in the Mediterranean Sea (File photo: Reuters)

Egyptian Natural Gas Holding Company (EGAS) plans to launch a global bid for gas explorations in the western Mediterranean region during H1 of 2020, an official source said.

Local media quoted on Monday the source, which asked not to be named, as saying that EGAS is currently working on determining the areas to be offered during the bid and obtaining approvals.

Last year, the Ministry of Petroleum completed the second phase of the seismic survey project for the western Mediterranean region in preparation for launching a global bid for oil and natural gas exploration.

It also launched in 2018 the implementation of the seismic survey project in the Gulf of Suez with Schlumberger.

According to the company's report for the last fiscal year, EGAS seeks to drill 15 exploration wells in the Nile Delta and the Mediterranean during the current fiscal year at an estimated cost of $422 million.

EGAS also established 12 development projects with an initial production of 2.046 billion cubic feet of gas per day, with an average added production of about 1.464 billion cubic feet per day, at an investment cost of $7.108 billion.

Egypt's natural gas production in FY2017-18 rose to 2.51 trillion cubic feet.

Meanwhile, Minister of Petroleum and Mineral Resources Tarek el-Molla received Monday Norwegian Ambassador Lena Natasha Lind and reviewed the procedures and programs that led to increasing investments in the petroleum and natural gas sectors.

The two sides discussed boosting cooperation in the petroleum and gas domains.

Molla pointed to the promising exploration areas in the Western Mediterranean and Red Sea, which represent good opportunities for international companies, as well as the maritime areas of the member countries of the Eastern Mediterranean Gas Forum.

The Norwegian diplomat expressed the Norwegian companies’ desire to increase their investments in the petroleum domain, citing investments by Equinor energy company and other Norwegian specialized service companies.

Lind praised the contribution of the Norwegian company BGS in the two-dimensional seismic research and data processing project carried out for the EGAS.

She invited Molla to attend the World Petroleum Conference and Exhibition to be held in Norway in August 2020.



Diriyah Company Awards Major Contract for Landmark Arena Project

The Diriyah Arena will boost the quality of life in Diriyah by providing a space for residents and visitors to enjoy events. (SPA)
The Diriyah Arena will boost the quality of life in Diriyah by providing a space for residents and visitors to enjoy events. (SPA)
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Diriyah Company Awards Major Contract for Landmark Arena Project

The Diriyah Arena will boost the quality of life in Diriyah by providing a space for residents and visitors to enjoy events. (SPA)
The Diriyah Arena will boost the quality of life in Diriyah by providing a space for residents and visitors to enjoy events. (SPA)

Saudi Arabia’s Diriyah Company has awarded a contract worth SAR5.75 billion to the branch of China Harbour Engineering Company Ltd. for the construction works of the Arena Block, a district that includes the multi-purpose indoor Diriyah Arena, three mixed-use office buildings, and a parking facility.

Diriyah Arena will have a gross floor area of approximately 74,000 square meters and is designed as a flexible and scalable venue to accommodate events such as concerts, sporting events, esports competitions, exhibitions, and live shows, said a statement from Diriyah Company on Wednesday. With a seating capacity of 20,000 spectators, it aims to attract residents and visitors from around the world.

Designed by the renowned global architecture firm HKS Inc., the Diriyah Arena’s design draws inspiration from the natural geology surrounding Diriyah, while honoring traditional Najdi architectural elements, to create a harmonious blend of heritage and modernity.

The Diriyah Arena will boost the quality of life in Diriyah by providing a space for residents and visitors to enjoy events, fostering a sense of community spirit, and contributing to the overall well-being of the area.

In addition to the Diriyah Arena, the Arena Block development will include three mixed-use office plots designed by international architects John McAslan + Partners, covering approximately 114,000 square meters, supported by state-of-the-art technology and infrastructure. The contract also includes over 4,000 parking spaces to support both Diriyah Arena events and office facilities.

Diriyah Company Group CEO Jerry Inzerillo stated: “The Diriyah Arena will be a landmark entertainment complex in Diriyah that reinforces the City of Earth’s growing global role in shaping Saudi Arabia’s artistic and cultural future, in alignment with Vision 2030.”

“By attracting both residents and global visitors to experience world-class sports and performances, the Diriyah Arena firmly demonstrates our commitment to creating a world-leading gathering place,” he added.

General manager of China Harbour Engineering Company Ltd. (Middle East) Yang Zhiyuan said: “This award marks a significant milestone for CHEC in the Kingdom. CHEC will bring to the project a wealth of global experience, technical expertise, and a proven track record of delivering successful projects.”

“We will mobilize the best resources and talents from across our international network and strive for excellence to ensure the successful and timely delivery of this world-class Arena. We will continue to deliver excellence in support of Vision 2030. We are deeply proud to be part of this initiative,” he remarked.

The contract is the latest in a series of major announcements so far in 2025 as Diriyah Company continues to accelerate its development program for Diriyah, realizing milestone after milestone.

The Diriyah Arena will join world-class cultural and entertainment assets in Diriyah, including the Royal Diriyah Opera House, nine museums, and academies, all featuring Najdi architectural elements inspired by the At-Turaif UNESCO World Heritage Site.