RealNews

Gas De France acquires stake in block in Western Desert in Egypt

Gaz de France, which is a major energy player in Europe, has acquired 45 per cent stake in the Alam El Shawish West licence in Egypt from Greek company Vegas Oil and Gas. Covering 1,075 sq.km, this licence is located at the Abu Gharadig Basin in the Western Desert, south-west of Alexandria. Several significant discoveries have already been made there and an exploration program has been under way. Oil production is expected to begin very shortly, followed by natural gas production in the years to come. Vegas Oil and Gas will remain the operator for the licence. Full Story

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