Gulf Oil and Gas accountACCOUNT

Apex International Signs Two Concession Agreements in Egypt

Source: 8/29/2017, Location: Africa

Share |
Apex International Energy has signed two concession agreements for 1.7 million acres encompassing the West Badr el Din (4,180 km 2) and South East Meleiha (2,535 km 2) concessions, located in the prolific Abu Gharadig Basin in Egypt’s Western Desert. As previously announced, Apex was awarded the two blocks as part of the Egyptian General Petroleum Corporation (EGPC) 2016 bid round.

Apex will invest a minimum of $27.4 million during the first exploration phase to perform detailed geological studies, acquire and process 3D seismic and drill exploratory wells.

Roger B. Plank, Founder and Chief Executive Officer of Apex International Energy, said, “We are very pleased to finalize these Concession Agreements and officially establish Apex’s foothold in Egypt. We thank H.E. Eng. Tarek El Molla, Minister of Petroleum and Mineral Resources, for his support during this transaction and for encouraging investments like ours in Egypt’s attractive oil and gas market. We look forward to advancing our partnership with the Egyptian Ministry of Petroleum and Mineral Resources.”

Raed Saba, Deputy General Manager and Exploration Manager in Egypt, Apex International Energy, said, “These blocks provide promising opportunities for value creation in the Western Desert, where we have extensive experience and look forward to building a long-term presence. We are eager to get started on drilling wells to maximize the full potential of these blocks, while pursuing additional opportunities to grow our business in Egypt.”

For more information about related Opportunities and Key Players visit Egypt Oil and Gas Projects

Acquisitions and Divestitures News in Egypt >>

Australia >>  3/19/2018 - INPEX CORPORATION was individually awarded an exploration permit for Release Area WA-533-P (the Block) as Operator in Australia’s 2017 Offshore Petrol...
Yemen >>  3/19/2018 - Petsec Energy has completed the transaction with Oil Search to acquire all of the shares of its subsidiary Oil Search (ROY) Limited which holds a 40% ...

United Arab Emirates >>  3/18/2018 - Total has signed two new 40-year concession agreements with the Supreme Petroleum Council of the Emirate of Abu Dhabi (United Arab Emirates) and the A...
Egypt >>  3/15/2018 - BP is seeking buyers for its stake in a 50-year-old oil and gas business in Egypt as it focuses on newer deepwater gas fields off the country’s Medite...

New Zealand >>  3/15/2018 - OMV, the international integrated oil and gas company based in Vienna, has agreed to acquire Shell’s Upstream business in New Zealand comprising joint...
Israel >>  3/14/2018 - Noble Energy, Inc. announced the closing of the previously announced divestment of a 7.5 percent working interest in the Tamar field, offshore Israel,...

Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 

Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Insurance  Investment  Mergers and Acquisitions  Risk Management 

Egypt Oil & Gas 1 >>  2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | 13 | 14 | 15 | 16 | 17 | 18 | 19 | 20 | 21 | 22 |

Oil & Gas Projects in Egypt >>

More News


Oil & Gas Companies in Egypt >>

Related Links

Gulf Oil and Gas
Copyright © Universal Solutions All rights reserved. - Privacy Policy.