SDX, BP terminate talks on Egypt assets sale

North Africa-focused oil company SDX Energy has terminated talks for a potential acquisition of assets in Egypt from BP.

An offshore drilling rig used by BP to drill for oil and gas in the Mediterranean Sea, offshore Egypt in 2014 /image source: BP

The company had on September 20 said that it was in talks for the acquisition of “a significant package of assets in Egypt from BP,” and that the acquisition would constitute a reverse take-over.

On the same date, the company’s shares were suspended pending further announcement on the talks with BP.

In a statement on Thursday, October 18, SDX said: “…discussions regarding [SDX’s] proposed acquisition of a significant package of assets in Egypt from BP have been terminated by mutual agreement.”

The suspension of the company’s shares in London has been lifted, and SDX has also requested for the restoration of trading on the TSX Venture Exchange.

It is not clear what BP assets were talked about related to the sale.

SDX said on Thursday: “SDX continues, in line with its stated strategy, to review and pursue inorganic growth opportunities across its areas of operations in North Africa.”

 

Share this article

Follow Offshore Energy Today

Posted on October 18, 2018 with tags , , .

Events>

<< Apr 2019 >>
MTWTFSS
1 2 3 4 5 6 7
8 9 10 11 12 13 14
15 16 17 18 19 20 21
22 23 24 25 26 27 28
29 30 1 2 3 4 5

GeoConvention 2019

GeoConvention offers some of the best local and international insights to efficient energy exploration…

read more >

16th MOSCOW INTERNATIONAL OIL AND GAS EXHIBITION

The Moscow International Oil & Gas Exhibition display products like oil and gas products, oil and gas services…

read more >

Erbil International Oil & Gas Exhibition 2019

The event will be held at the Erbil International Fair Ground which is one of the largest energy related events in Iraq…

read more >

THE 24 th IRAN INTERNATIONAL OIL , GAS , REFINING & PETROCHEMICAL EXHIBITION

The second largest OPEC producer, Iran sits atop 11 percent of oil and 18 percent of gas…

read more >

Jobs>

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply