GREECE-AFRICA POWER INTERCONNECTION BOOSTED BY COLLABORATION

McDermott and Eunice Energy Group have announced the signing of a memorandum of understanding (MoU) for cooperation on the 2GW electrical interconnection between Greece and Egypt.

Eunice Energy Group is leading the transnational consortium between Greece and Egypt for the GreeceAfrica Power (GAP) Interconnector project, which aims to contribute to regional energy security and stability by facilitating intercontinental clean energy transfer. McDermott, a leader in engineering, procurement, construction and installation (EPCI) for subsea and deepwater, will be providing engineering and construction guidance.

George Kalavrouziotis, Eunice Energy Group CEO, said, “The 2GW interconnector will help Egypt export its surplus power to Europe, and enable Greece to export its domestically produced green energy into the Balkans and Italy, thus contributing to Europe’s energy independence from Russia’s energy resources.”

Briefs

Oil Dynamics reaches Algeria milestone

Oil Dynamics, an artificial lift specialist, has completed one year of trouble-free operation with its first pumping systems in Algeria.

The custom-made pump systems were designed by the company’s engineering office to match the application and, when in Algeria, an experienced Oil Dynamics field service engineer supported the local partner, Atlas Fluides & Services, with installation and commissioning of the pumps for the customer, Sonatrach.

New Phase Of Citygate Construction In Egypt

Qatari Diar, a large real estate developer, has awarded the new phase of CityGate New Cairo in Egypt.

The construction agreement was signed between Bawabat Al- Sharq New Cairo Real Estate Investment, a company under Qatari Diar Egypt, and Consolidated Contractors Company (CCC).

This agreement inaugurates the construction of Opal 3D-A and Garnet 3D-B at CityGate New Cairo, a self-sustaining city in the heart of New Cairo. Abdullah bin Hamad Al-Attiyah, CEO of Qatari Diar Real Estate Investment Company, commented, “Implementing the new phase of CityGate New Cairo marks an important milestone for Qatari Diar in Egypt as the project will value over US$12bn once completed. We are pleased to announce that our valued partner CCC will be administrating the new phase of CityGate New Cairo, in the wake of their notable success in the project’s first phase.

“The new phase of CityGate New Cairo comes in line with our strategy in the Egyptian market. We focus on implementing large-scale projects with the highest international standards while integrating them with a green and sustainable approach to support the Egyptian economy as well as the real estate sector. On the other hand, our projects consistently contribute to local job market with numerous job opportunities throughout the construction phases and after they’re completed.”

Jamal Bahlawan, CEO of CCC, added, “It is with great pleasure that we continue our successful partnership with Qatari Diar in Egypt and across the Arab world with the construction of the new phase. As the main contractor of the first phase of CityGate New Cairo, encompassing the construction of 430 units, we are committed to deliver the highest quality in line with what we have priorly achieved.”

Eni launches gas development in Libya

ENI and the National Oil Corporation of Libya have agreed to develop ‘Structures A&E’, a strategic project aimed at increasing gas production to supply the Libyan domestic market and ensure export to Europe.

The project consists of the development of two gas fields located offshore Libya and the construction of a carbon capture and storage facility. The overall estimated investment of US$8bn will significantly contribute to the Libyan economy.