East West Petroleum: Burg El Arab Operations Remain Unaffected
East West Petroleum has been informed by its partner Kuwait Energy, the operator of the Burg El Arab (BEA) concession, that the operations remain unaffected by the recent events in Egypt. Kuwait Energy, as operator, continues to monitor the situation closely.
East West Petroleum acquired a 20 percent participation interest from Kuwait Energy in December, 2010. Kuwait Energy retains a 55% participation interest in the field with the remaining interest held by Gharib Oil Fields.
East West Petroleum will continue to liaise with Kuwait Energy on BEA operations and will provide shareholders with any further updates as appropriate.