Gulf Oil and Gas accountACCOUNT

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 >>

Australia >>  2/23/2017 - Carnarvon Petroleum Limited (Carnarvon) is pleased to inform shareholders that the joint venture has committed to acquiring long lead items for the Do...
United Kingdom >>  2/23/2017 - The Oil and Gas Authority (OGA) has launched a search for operators to voluntarily participate in a multi-operator, well plug and abandonment (P&A) op...

Iraq >>  2/22/2017 - LUKOIL and INPEX have successfully completed the testing of the first exploratory well, Eridu 1, at Block 10 in southern Iraq. The well recorded daily...
Iran >>  2/15/2017 - Iran says its proven in-place oil and gas reserves are higher by 30 billion barrels and 128 trillion cubic feet, respectively, than 2011 estimates. Di...

Morocco >>  2/15/2017 - Gulfsands Petroleum plc, the oil and gas company with activities in Syria, Tunisia, Colombia and Morocco, announces that its subsidiary, Gulfsands Pet...
Papua-New Guinea >>  2/15/2017 - Kina Petroleum Limited is pleased to provide an update in relation to its foreland exploration activities. Kina confirms that the PPL 338 licence has ...

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 | 18 | 19 | 20 |

Oil & Gas Projects in Egypt >>

More News

 

Oil & Gas Companies in Egypt >>


Related Links

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