Neptune Energy Scores License in Egypt

Wednesday, February 13, 2019

Neptune Energy was awarded an operated oil exploration license in the North West El Amal Offshore Concession in Egypt by state-run EGPC. The concession, originally offered as Block 4, covers 365 sq km and is located in the central part of Gulf of Suez.

In the first phase, the program will include acquiring 100 sq km of 3D seismic and drilling one exploration well. The second phase will see two wells drilled.

Gamal Kassem, Neptune Energy’s Country Director for Egypt, said: “I am delighted that we have been awarded this operated offshore block. We are committed to growing our business in Egypt and see this award is an important first step.”

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