Successful bids for two exploration blocks in Egypt
Posted: 23 February 2005
Burren announces that it has been notified that it is the successful bidder for two exploration blocks in the 2004 Bid Rounds organised by the government-owned Egyptian General Petroleum Corporation (“EGPC”) and Ganoub El-Wadi Holding Petroleum Company (“GANOPE”).
In the EGPC Bid Round, Burren has successfully bid for Block 1, North Lagia , an onshore area in the northern Gulf of Suez basin totalling 1,457 km 2. North Lagia surrounds three existing producing licence areas operated by the government-owned General Petroleum Company (Asl, Ras Sudr and Ras Matarma).
In the GANOPE Bid Round, Burren is the successful bidder for Block 2, known as North Hurghada Marine. The offshore area covers 242 km 2 in a shallow water area in the southern Gulf of Suez and lies along the same trend as Zeit Bay , and Geisum – two well known oil production areas. To the immediate southeast of North Hurghada Marine block lies the significant Seabird gas and oil field.
The two exploration blocks will increase Burren’s presence in Egypt . Last year, the Egyptian parliament approved the award to Burren of the East Kanayis Block and following signature of the PSC in September, exploration activity has commenced with drilling planned for mid 2005. Burren will have a 100% working interest in all three blocks.
Posted by Editor Pipeline Magazine
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