Egyptian General Petroleum Corp. (EGPC) acquired shares of Gulf of Suez oil concessions in Egypt from Wintershall Dea Egypt, as part of Wintershall DEA’s strategy to focus on natural gas production in Egypt.
Suez Oil Co. (SUCO), a joint venture between EGPC and Wintershall DEA, held Ras Budran and Zeit Bay concessions in the Gulf of Suez for 38 years. Transfer of sale is effective Jan. 1, 2022.
Ras Budran offshore facilities consist of three unmanned well head platforms and one manned production platform. Production streams from the well head platforms are commingled and fed to a single production platform. On the production platform liquid and gas is separated and evacuated to shore in separate pipelines.
Zeit Bay offshore facilities consist of four unmanned well head platforms which are in the entrance to the bay. Production from the platforms is through high pressure or low-pressure pipelines.
Wintershall DEA will continue to hold 17.25% of the offshore West Nile Delta gas concession and operate the onshore Nile Delta Disouq gas concession held by SUCO. Exploration will continue at East Damanhour, onshore Nile Delta.
