Egypt awards Block 12 licence
- Egypt: Saturday, November 10 - 2012 at 04:46
The Egypt General Petroleum Corp (EGPC) has awarded an international joint venture the licence for Block 12 'El Qa'a Plain' in the bid round which closed on March 29, 2012. The JV partners are Petroceltic (37.5% working interest), Dana Petroleum (37.5% working interest, as operator), and Beach Petroleum (25% working interest). The block consists of two largely unexplored areas covering 1824 sq km in the southern part of the Sinai Peninsula. The overall licence term for the Block is six years, with the work commitment in the first four-year period comprising the acquisition of a minimum 450 sq km of new 3D seismic data and the drilling of at least one exploration well.
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