By OGJ editors
HOUSTON, Nov. 15 – Egypt’s Ministry of Petroleum approved the transfer to Aegean Energy (Egypt) Ltd., a unit of the Energean Oil & Gas Group of companies, from Groundstar Resources Ltd., Calgary, of a 60% net interest in the West Kom Ombo block in southern Egypt.
Energean as operator plans to spud the first exploratory well by the end of November 2010, which Sino Tharwa Drilling Co. handling the drilling contract. The West Kom Ombo-1 drill site is on Prospect A1 on the east side of the block near Al Baraka oil field.
A further 20% interest transfer is expected to be approved, resulting in a final holding of 80% for Energean Oil & Gas; Groundstar retains a 10% net carried interest.
US Department of the Interior.
File photo from PDVSA..
