Energean, INA get gas exploration licence in Egypt

Published on : 2022-01-24

UK-based natural-gas focused energy company Energean said its unit Energean Egypt, in 50:50 consortium with Croatian oil and gas company INA, was awarded an exploration licence in Egypt on January 3.

The licence covers exploration activities in Block-8 of East Bir El-Nus concession in the Western Desert of Egypt, Energean said in a press release last week.

The award is in line with Energean’s strategy to increase and diversify its presence in Egypt and reinforces its commitment to the country, the company added.

The work programme for the licence includes a 170km 2D seismic survey, a 200km 3D seismic survey plus two exploration wells, which are expected to target estimated resources of some 100 millions of barrels of oil equivalent.

INA's shares traded at 3,460 kuna ($519/460 euro) on Monday afternoon on the Zagreb bourse, down 1.14%.

(1 euro=7.529 kuna)

Related Articles

Egypt to start gas supplies to Lebanon soon

The Lebanese Ministry of Energy and Water is set to coordinate with the Egyptian Ministry of Petroleum this week before resorting to the World Bank for financing

Read More

El-Molla follows up the implementation of "Technip Energy" projects in Alexandria and Assiut

Technip Energies has expressed interest in getting involved in Egypt ambitious green energy projects, This came during a meeting held by Minister of Petroleum and Mineral Resources Tarek El Molla and a delegation of officials from Technip Energies International

Read More

Maait meets with representatives of Morgan Stanley, Bank of America, Bank of New York in London

Diverse stimulus package for economic recovery from current global crisis, in implementation of presidential directives: Maait

Read More
Wintershall Deaneptune LogoSIEnppipetrojetTransGlobe SCHNEIDER-ELECTRIChempleEgypt gasNorthAlmansooriSKY CTS exxonmobilSchlumberger