By OGJ editors
HOUSTON, June 15 -- Perenco, a private Paris-based independent, acquired exploration and development projects in Turkey and Egypt and sold its interests in the US.
Perenco acquired from Chevron Corp. a 50% interest in the Silopi exploration block in southeastern Turkey near the Iraq border. A seismic survey will be acquired this year, and in 2006 Perenco will be responsible for drilling an exploration well. State TPAO has an option for a 50% interest if a commercial discovery is made.
Perenco was already Turkey's largest foreign producer with operations in eight fields around Diyarbakir.
Perenco acquired, subject to formal approval by Egyptian General Petroleum Corp., BP Egypt's 30% interest in the North Idku permit in the Mediterranean. The Nile Delta permit, operated by RWE-Dea AG of Germany, has three gas-condensate discoveries for which development plans are in preparation.
In the eastern Mediterranean, Perenco received approval to develop Tao gas field on the Offshore North Sinai permit. This will involve a 60-km, 22-in. pipeline to shore and a land processing facility that will deliver 130 MMcfd to the national transmission system.
Meanwhile, Perenco sold its entire US portfolio of assets in West Texas, New Mexico, and the Gulf Coast to an undisclosed buyer. The assets, acquired from CMS Oil & Gas Inc. in 2002, were producing 5,500 boe/d net. Perenco said it now has 200,000 boe/d of net production and 630 million boe of reserves in 13 countries.
