Arab Finance: United Energy Group, listed on the Hong Kong Stock Exchange, has concluded an agreement to buy and sell to acquire 100% of the operations of the Apix International Energy to exploit oil and gas in Egypt, according to To explain Journalist.
The deal will be implemented through United Limited, affiliated with United Energy in the Middle East and North Africa. The statement did not have any details about the value or size of the deal.
The deal aims to enhance financial safety, increase investment and achieve a long -term value for shareholders, United Energy said in its statement, adding that once the deal is completed, the group's total production in Egypt will reach 39 thousand barrels of oil equivalent per day, to occupy an advanced rank among the ten largest oil and gas producers In Egypt.
United Energy Group currently has stakes in 5 concessions in Egypt, with an average production of 22,000 barrels of oil per day in 2024.
Meanwhile, Apix has stakes in 8 wild concession areas, with an average total production of its workforce exceeding 11 thousand barrels of oil equivalent per day in 2024, along with an exploration area of ​​3500 square meters.
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