Petroleum Africa
Find us on: 
Thursday, December 19, 2013
RWE Dea reported that the Egyptian Ministry of Petroleum has signed the concession agreement for the East Ras Budran Offshore area with EGPC, RWE Dea and Dove Energy. RWE Dea will operate the concession with an 80% share, with Dove holding the remaining 20% interest.
“We are delighted to have signed this new concession agreement in Egypt, especially in the Gulf of Suez where RWE Dea has several decades of experience in oil exploration, development and production,” said Maximilian Fellner, General Manager RWE Dea Egypt.
The concession, with an area of approximately 45 sq km, is located offshore the Gulf of Suez. The East Ras Budran Offshore is located near RWE Dea’s Ras Budran concession and related production facilities.
The firm plans to acquire a 3D seismic survey and drill one exploration well during the first three-year exploration period. Exploration activities will target the Cretaceous sandstones play RWE Dea successfully drilled in the adjacent Ras Budran oil field. Any discovery will benefit from important synergies with the existing production facilities that will allow for a quick and optimized development.
“The concession agreement reconfirms RWE Dea’s strong commitment to this country, both in terms of development of existing discoveries and in terms of further exploration to sustain future growth,” Fellner explained.
The East Ras Budran Offshore block was offered in EGPC’s International Bid Round 2011 and awarded to RWE Dea at the end of last year.
" alt="First LNG Realized at the Greater Tortue Ahmeyim Project">
" alt="United Energy Acquires Western Desert Producer APEX">
" alt="Baker Hughes Announces Major Gas Technology Orders for Venture Global LNG">
" alt="ReconAfrica: Naingopo Results Demonstrate a Working Petroleum System">
" alt="Tullow Highlights 2025 Operational Plans in Ghana">
" alt="TotalEnergies to Supply 1.5 TWh to STMicroelectronics in France Over 15 years">
" alt="Rockhopper Reaches Final Settlement with United on Egypt’s Abu Sennan Concession">
" alt="Oil & Gas Crucial for African Growth: AEC Calls for Industry Support to Defend African Market">
