RWE Dea wins two Egyptian offshore concessions

Egyptian General Petroleum Corporation awards German RWE Dea two Gulf of Suez concessions.

RWE Dea wins two Egyptian offshore concessions

World Bulletin / News Desk

Energy company RWE Dea has been awarded concessions in two offshore areas for oil and natural gas operations in Egypt's Gulf of Suez, the German firm has reported.

The company won the 2013 bid round opened by state-owned Egyptian General Petroleum Corporation and secured rights to become operator of two new concessions in the Gulf of Suez, East Ras Fanar Offshore and Northwest El Amal concession, RWE Dea confirmed on Thursday.

The upcoming work program for the concessions will include seismic reprocessing and two exploration wells at East Ras Fanar Offshore and one well at Northwest El Amal.

"Both blocks provide promising opportunities in an area, where we know the geological conditions very well," general manager of RWE Egypt Maximilian Fellner said in a company statement.

The firm will provide estimated reserves after reviewing existing seismic data from the fields.

RWE Dea has exploration and production license in six other fields in Egypt, with an annual production of 164 million cubic meters of natural gas and over 3 million barrels of oil. 

Güncelleme Tarihi: 20 Eylül 2014, 09:16