Hellenic Petroleum Nabs Egyptian Project

Hellenic Petroleum's concession agreement for exploration and production of hydrocarbons in the Mesaha area of Egypt was signed October 9, 2007 between a conglomerates consisting of Melrose Resources, Hellenic Petroleum and Oil Search, the state authority Ganoub El Wadi and the Ministry of Petroleum. His Excellency the Minister of Petroleum, Eng. Sameh Fahmy, headed the signing.

The unexplored sedimentary basin is bounded by the Sudanese border in Upper Egypt and has an area of 57,000 km2.

The initial exploration period is 4 years and can be extended to a maximum of 9 years. The gross financial commitment is $14.3 million and Hellenic Petroleum holds a 30% interest in the block.


Our Privacy Pledge

Most Popular Articles

From the Career Center
Jobs that may interest you
Sr. Project Manager
Expertise: Project Engineer|Project Management
Location: Odessa, 
Administrative Assistant IV
Expertise: Executive|Secretarial or Administrative
Location: Houston, TX
US Houston: Account Rep, Bus Dev
Expertise: Business Development|Marketing|Sales
Location: Houston, TX
search for more jobs

Brent Crude Oil : $50.97/BBL 1.53%
Light Crude Oil : $48.75/BBL 1.79%
Natural Gas : $2.92/MMBtu 0.68%
Updated in last 24 hours