Sign in
Dragon Oil to invest USD 500 mn in Egypt this year: Emirates National Oil Company (Enoc) subsidiary Dragon Oil plans to invest some USD 500 mn in Egypt this year to drill new wells and maintain oil production levels at 61k barrels per day (bbl/d), Managing Director Ali Al Jarwan told Asharq Business. Dragon Oil wants to raise its production from the North Safa oil field in the Gulf of Suez to 8k bpd next year from the current 6k bpd, he added.
That’s not the only investment it’s making in Egypt: The oil producer started crude oil production from the Al Wasl field in Egypt earlier this year, and said it plans to invest USD 200 mn to drill seven new wells to double production capacity from the current 3k barrels of crude oil per day. The company plans to drill the wells by 2026.
EDGNEX INVESTS IN TURKEY DATA CENTER-
Damac’s digital unitEdgnex Data Centers is investing USD 100 mn alongside telecoms operator Vodafone Turkey to establish a new 6 MW data center in Izmir, Turkey, according to a statement. The center will connect Izmir to Europe through overland and submarine cables, and is expected come online in 2025, The National reports, citing a press statement
The details: The data center will serve large-scale content businesses and wholesale service providers and will be available for disaster recovery services, The National added. The data center will also address rising demand in the Eastern Mediterranean and on Turkey’s western coast, Vice Chairman Aqil Ali said in the statement, adding that Izmir is an “ideal location” to meet that demand.
For our fellow nerds: It’s a tier-three center, meaning it will offer 99.982% uptime and full redundancy.
Not Edgnex’s first rodeo: The data center firm is investing USD 600 mn to build data centers in Riyadh and Dammam worth a combined 55 MW, as part of a USD 1 bn data center development strategy. The company also inked an MoU in March 2023 to build a data center in Jordan.
