Egypt's current account gap narrows, but overall BoP records deficit    Egypt's PM reviews debt reduction strategy, eyes more private investment    Egypt hosts international neurosurgery conference to drive medical innovation    Egypt, India discuss expanding industrial, investment partnerships    World Bank proposes Egypt join new global health initiative    Egypt's EDA discusses Johnson & Johnson's plans to expand investment in local pharmaceutical sector    I won't trade my identity to please market: Douzi    Sisi sends letter to Nigerian president affirming strategic ties    Egypt welcomes 25-nation statement urging end to Gaza war    Egypt, Senegal sign pharma MoU to unify regulatory standards    Egyptian pound ticks down in early Tuesday trading    Famine kills more Gaza children as Israel tightens siege amid global outrage    Kuwait's Crown Prince, Egyptian minister discuss strengthening cooperation    Egyptian Drug Authority discusses plans for joint pharmaceutical plant in Zambia    Egypt's FM seeks deeper economic, security ties on five-nation West Africa tour    Two militants killed in foiled plot to revive 'Hasm' operations: Interior ministry    Egypt foils terrorist plot, kills two militants linked to Hasm group    Egypt, Somalia discuss closer environmental cooperation    Egypt exports 175K tons of food in one week    Giza Pyramids' interior lighting updated with new LED system    Egypt's EHA, Huawei discuss enhanced digital health    Foreign, housing ministers discuss Egypt's role in African development push    Korea Culture Week in Egypt to blend K-Pop with traditional arts    Egypt, Uruguay eager to expand trade across key sectors    Egypt reveals heritage e-training portal    Three ancient rock-cut tombs discovered in Aswan    Sisi launches new support initiative for families of war, terrorism victims    Egypt expands e-ticketing to 110 heritage sites, adds self-service kiosks at Saqqara    Egypt's Irrigation Minister urges scientific cooperation to tackle water scarcity    Palm Hills Squash Open debuts with 48 international stars, $250,000 prize pool    Egypt's Democratic Generation Party Evaluates 84 Candidates Ahead of Parliamentary Vote    On Sport to broadcast Pan Arab Golf Championship for Juniors and Ladies in Egypt    Golf Festival in Cairo to mark Arab Golf Federation's 50th anniversary    Germany among EU's priciest labour markets – official data    Paris Olympic gold '24 medals hit record value    A minute of silence for Egyptian sports    Russia says it's in sync with US, China, Pakistan on Taliban    It's a bit frustrating to draw at home: Real Madrid keeper after Villarreal game    Shoukry reviews with Guterres Egypt's efforts to achieve SDGs, promote human rights    Sudan says countries must cooperate on vaccines    Johnson & Johnson: Second shot boosts antibodies and protection against COVID-19    Egypt to tax bloggers, YouTubers    Egypt's FM asserts importance of stability in Libya, holding elections as scheduled    We mustn't lose touch: Muller after Bayern win in Bundesliga    Egypt records 36 new deaths from Covid-19, highest since mid June    Egypt sells $3 bln US-dollar dominated eurobonds    Gamal Hanafy's ceramic exhibition at Gezira Arts Centre is a must go    Italian Institute Director Davide Scalmani presents activities of the Cairo Institute for ITALIANA.IT platform    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



Energean to complete soon its acquisition of Edison's assets in Egypt
Company finalised evaluating of North Karish discovery
Published in Daily News Egypt on 06 - 11 - 2019

Energean Oil & Gas is seeking to finalise the latest procedures for the acquisition of oil and gas assets owned by Italian company Edison in Egypt soon.
Energean's CEO Mathios Rigas stated that the company is now focusing on completing the closure of the acquisition of Italian Edison exploration and production company, in parallel with its progress in the recently discovered North Karish field.
He pointed out that Energian seeks to invest in the oil and gas sector in Egypt for its attractiveness and promising opportunities in the energy sector, in light of the economic reform measures encouraging foreign investment. This comes at a time when there are many recent gas discoveries made in the deep waters of the Mediterranean.
The company recently successfully assessed the discovery of North Karish, with estimates of recoverable resources of 0.9trn cubic feet (scf) (25bn cubic meters) as well as 34m barrels of light/condensate oil. This discovery greatly enhances the volume of its resources discovered through the Karish and Tanin fields.
Best estimate of gas initially in place is 1.3trn cubic feet (Tcf) versus a pre-drill estimate of 1.0-1.5 Tcf.
Volumes are incremental to the 2.4 Tcf (68 BCM) and 33m barrels of light oil / condensate discovered resources that Energean already has in its Karish and Tanin leases.
Rigas said that this is an excellent result from the Karish North appraisal side track, confirming in place volumes at the top half of pre-drill estimates and increasing our recoverable volumes in Israel by 0.9 Tcf (25 BCM) of gas plus 34m barrels of light oil or condensate.
“Today's news delivers upon another commitment that we had made to our shareholders. These successful results allow us to continue our gas marketing efforts in the region with a goal to fully utilise the capacity of our 8 BCMA FPSO. Our focus now remains on closing the Edison E&P acquisition, in parallel with progressing Karish development,” he added.


Clic here to read the story from its source.