RWE Dea secures new blocks offshore Egypt

Egyptian General Petroleum Corp. (EGPC) has awarded RWE Dea operating interests in two offshore concessions in the Gulf of Suez.

Offshore staff

HAMBURG, Germany – Egyptian General Petroleum Corp. (EGPC) has awarded RWE Dea operating interests in two offshore concessions in the Gulf of Suez.

The award, which remains subject to approval from Egypt’s president, covers 100% of the East Ras Fanar Offshore block and 50% of Northwest El Amal, in which Edison International will hold the remaining 50%.

Both resulted from the country’s2013 bid round.

East Ras Fanar Offshore covers 187 sq km (72 sq mi) in shallow-water in the central Gulf of Suez nearDea’s Ras Fanar oil field. The 365-sq km (141-sq mi) Northwest El Amal block is between the July and Amal oil fields, and near Saqqara, the latest substantial oil find in the Gulf of Suez.

The work programs include seismic reprocessing and two exploration wells at East Ras Fanar Offshore and one well at Northwest El Amal.

“Both blocks provide promising opportunities in an area, where we know the geological conditions very well,” said Maximilian Fellner, general manager of RWE Dea Egypt.

09/17/2014

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