Exploration: News for Oil & Gas and Hydrocarbon Industries  Membership Services Ľ
Gulf Oil and Gas grow your business
Home News Events Projects Tenders Unconventionals Community | My Account
Products and vendors Services and providers Jobs

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, OVLís 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 >>

Swala Obtains Licence Extension to Progress Tanzania Drilling
  Tanzania >>  8/31/2015 - Swala Energy Limited (Swala) is pleased to advise that the Tanzanian Ministry of Energy and Mining (MEM) has agreed to extend the period within which ...
Eni Discovers a Supergiant Gas Field in the Egyptian Offshore
Egypt >>  8/30/2015 - Eni has made a world class supergiant gas discovery at its Zohr Prospect, in the deep waters of Egypt. The discovery well Zohr 1X NFW is located in th...

GeoPark Finds New Light Oil Field Discovery in Colombia
  Colombia >>  8/27/2015 - GeoPark Limited, the Latin American oil and gas explorer, operator and consolidator with operations in Chile, Colombia, Brazil, Argentina and Peru, an...
Lowering Costs & Enhancing Efficiency Program Achieved By CNOOC Limited in H1 of 2015
  China >>  8/26/2015 - CNOOC Limited announced its interim results for the six months ended June 30, 2015. ...

Circle Oil's KSS-A Well on The Sebou Permit Disappoints
Morocco >>  8/26/2015 - Circle Oil plc, the North African focused oil and gas exploration, development and production company, provides the following information on the progr...
Cash-Strapped Liberia State Oil Company to Slash Staff in Revamp
  Liberia >>  8/25/2015 - Cash-strapped National Oil Company of Liberia (NOCAL) will slash its work force by over two-thirds as part of measures aimed at cutting costs amid a f...



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 | 16 | 17 |

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 B2B marketplace:   About -  Advertising -  Competitive Intelligence -  Talent Solutions -  Membership Services Follow us on Facebook
Copyright © Universal Solutions All rights reserved. Privacy Policy. - Contact Us  Gulfoilandgas rss feed