Neptune awarded Gulf of Suez block

Egyptian General Petroleum Corporation has awarded Neptune Energy operatorship of an oil exploration license in the Gulf of Suez.

The North West El Amal offshore concession (originally offered as block 4) covers 365 square kilometres (141 square miles) in the central part of Gulf of Suez, 42 kilometres (26 miles) south of Ras Gharib and 105 kilometres (65 miles) north of Hurghada.

Neptune’s first-phase programme will include acquiring 100 square kilometres (38.6 square miles) of 3D seismic and drilling one exploration well, followed by two wells more wells in the second phase.

Gamal Kassem, Country Director for Egypt, said: “We are committed to growing our business in Egypt and see this award is an important first step.”

Source: Offshore Magazine