Neptune Energy has immediately been awarded an operated oil exploration licence within the North West El Amal offshore concession in Egypt by the Egyptian General Petroleum Corporation.

The concession (initially supplied as Block four) covers 365 km2 and is situated within the central a part of Gulf of Suez. The block lies roughly 26 mi (42 km) south from Ras Gharib and 65 mi (105 km) north to Hurghada.

In the primary part, this system will embody buying 100 km2 of 3D seismic and drilling one exploration nicely. The second part will see two wells drilled.

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Gamal Kassem, Neptune Energy’s nation director for Egypt, stated: “I’m delighted that we’ve got been awarded this operated offshore block. We are dedicated to rising our enterprise in Egypt and see this award is a vital first step”.

Source: www.worldoil.com

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