Press Esc to close

WorldOil

World Oil News Center



RWE Dea awarded new concession in Egypt

RWE Dea has been awarded a new offshore concession in Egypt, East Ras Budran Offshore. The block was offered in the International Bid Round 2011 of the EGPC.

The concession East Ras Budran Offshore was awarded to RWE Dea as operator with 80% share. It is situated adjacent to the company’s operated production license Ras Budran in the Gulf of Suez near the shore of the eastern Gulf of Suez coast. “We are pleased to have been offered this new concession, as it provides a valuable addition to our balanced oil and gas license portfolio in Egypt,” says Maximilian Fellner, General Manager RWE Dea Egypt. “The block is located in a prolific oil prone area and provides an exciting add-on to RWE Dea’s operations in the Offshore Gulf of Suez,” Fellner explains. The East Ras Budran Offshore concession carries very good technical and commercial merits to explore for hydrocarbons.

The new concession increases the company’s number of operated licenses in Egypt from 5 to 6. The block covers an area of approximately 46 sq km. RWE Dea will operate the block with 80% working interest share, with Dove Energy holding the remaining 20%. The license award is subject to approval from the Egyptian Parliament.RWE Dea Egypt and its predecessor organisation have been operating successfully in Egypt since 1974 and, as operator, can look back on three decades of oil production in the Gulf of Suez. In recent years the company made a number of major gas discoveries in Egypt and boosted its activities considerably with the acquisition of additional concessions.

RWE Dea has a total of 13 onshore and offshore concessions in Egypt, across a concession area of about 19,000 sq km.

11/12/2012

 

Bookmark and Share


WO DATA HUB

EngineeringTablesIcon-Large

Engineering Data Tables

World Oil's specialized upstream Engineering Data Tables featuring the Drill Bit Classifier, Tubing Tables and more. Get Total Access today.

WO SUPPLEMENTS

2013 Fracturing Technology

2013 Fracturing Technology

MEDIA CENTER

By Digital Publisher

Drill Bit Classifier World Oil published its renowned Drill Bit Classifier in September 2013. The Drill Bit Classifier is a comprehensive listing of major manufacturers' d...

ENERGY EVENTS

Upcoming Events