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 >>

Chariot Extends Block C-19 License Offshore Mauritania
  Mauritania >>  5/1/2015 - Chariot Oil & Gas Limited, the Atlantic margins focused oil and gas exploration company, provides an update on the C-19 block offshore Mauritania. ...
Sintana Energy Drilled Manati Blanco-1 Well
  United States >>  4/30/2015 - Sintana Energy Inc. is pleased to announce that Patriot Energy Sucursal Colombia ("Patriot"), wholly owned by the Company, has received notice that E...

Sterling Provides Update on Ntem Concession
  Cameroon >>  4/23/2015 - Sterling Energy Plc, the AIM listed oil and gas exploration company, provides the following update for the Ntem Concession, offshore Cameron. ...
BPZ Energy Provides Albacora Field Update
  Peru >>  4/22/2015 - BPZ Energy, an independent oil and gasexploration and production company, continues to operate underprovisions of Chapter 11 of the United States Bank...

India to Auction 69 Marginal Fields Owned by ONGC & Oil India
  India >>  4/21/2015 - India will soon auction 69 marginal oil and gas fields owned by state explorers Oil and Natural Gas Corp (ONGC) and Oil India Ltd, the country's oil s...
Increased Cooperation on Exploration in the Barents Sea
  Norway >>  4/21/2015 - Statoil, Eni Norge, Lundin Norway, OMV and GDF SUEZ will collaborate on solving operational tasks tied to exploration in the Barents Sea. ...



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 |

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