Exploration: News for Oil & Gas and Hydrocarbon Industries  Membership Services »
Gulf Oil and Gas grow your business
Home News Events Projects Tenders Unconventionals Community | My Account Gulfoilandgas rss feed Follow us on Facebook  Jobs 
Products and vendors Services and providers Oil & Gas Software and publications

OVL Signs North Ramadan Concession Agreement

Source: www.oilegypt.com 8/20/2005, Location: Africa

Share |

ONGC Videsh Ltd. alongwith its consortium partner IPR Energy Red Sea Inc. (a subsidiary of the Texas Independent IPR) has signed of the North Ramadan Concession Agreement with the Government of Egypt. The OVL/IPR consortium will invest in excess of US $ 31 million over the three phased exploration period which will consist of 5 exploratory wells and acquisition of 3D seismic over the concession area.

The Government of Egypt was represented by H.E. Minister of Petroleum Eng. Sameh Fahmy, IPR Energy Red Sea Inc. (IPR) was represented by President/CEO Dr. M K Dabbous and ONGC Videsh Ltd. (OVL) was represented by Executive Vice-President, Mr. S Roychaudhury.

OVL had earlier announced in March 2005 that it had won the award against competing bids from companies/consortia which included, among others, British Petroleum, Petro SA and Ludin. The block has a potential in-place oil of 600 million barrels. OVL has 70 per cent and IPR 30 percent participating interest in the block.

Mr. Subir Raha, Chairman of OVL, said that with the signing of the concession agreement, OVL’s priority will be to complete all studies with a view to expedite drilling of the first exploration well and establish reserves in this prolific block.

Exploration News in Egypt >>

Leyshon’s Interim Testing Programme at Zijinshan Project
  China >>  9/22/2014 - Leyshon Energy Limited is pleased to announce that the Company is well advanced in the interim testing programme at the Zijinshan gas project located ...
NIOC Wooing Foreign Investment for 40 H/C Blocks
  Iran >>  9/22/2014 - Iran’s state-run oil company is in talks with 15 European and 3 Asian companies to explore hydrocarbon in 40 blocks in Iran, a senior official said. ...

Brazil won't Schedule Regular Oil-Rights Auctions
  Brazil >>  9/17/2014 - Brazil does not intend to schedule regular oil exploration and production rights auctions, the top petroleum official at the country's energy ministry...
Brazil Confident New Rules Will Protect Oil Rights
  Brazil >>  9/16/2014 - Brazilian regulators were confident that new regulations will trump provisions of the country's 2010 oil law that threaten to strip oil companies such...

Ophir Finds Gas Discovery in Block R
  Equatorial Guinea >>  9/16/2014 - Ophir Energy plc announces that the Silenus East-1 well in Block R, Equatorial Guinea has resulted in a new gas discovery. The Silenus East-1 well was...
Tethys Petroleum Limited Provided an Operational & Corporate Update
  Kazakhstan >>  9/16/2014 -  Operations

In Kazakhstan, work continues on the gas project with the dehydration equipment having now been successfully tested in ...




Related Categories: Camp Building  Cleaning Equipment, Services  Communication  Corrosion Products/Services  Development  Exploration  Food Supplies  General  Labor Services  Land & Leasing  Mine Clearance  Oil & Gas Companies  Production  Service Companies  Skilled Labors  Transportation, 4X4 Trucks  Unskilled Labors  Utility Systems  Waste Disposal  Water Supply Services  Welding Products/Services 

Related Articles: Camp Building  Cleaning Equipment, Services  Communication  Corrosion Products/Services  Development  Exploration  General  Labor Services  Land & Leasing  Mine Clearance  Oil & Gas Companies  Production  Service Companies  Transportation, 4X4 Trucks  Utility Systems  Water Supply Services  Welding Products/Services 


Egypt Oil & Gas 1 >>  2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | 13 | 14 | 15 |

More News

Oil & Gas Projects in Egypt >>

Oil & Gas Companies in Egypt >>

Related Links

Countries Quick Links

AO BJ CD CG CI CM DZ EG ET GA GH GN GQ KE LR LY MA MG ML MR MZ NA NE NG RW SC SD SL SN SO TD TN TZ UG ZA ZM
Gulf Oil and Gas E-Marketplace - Promote your Business - About Us
Copyright © Universal Solutions All rights reserved. Privacy Policy. - Contact Us