The concession offered by the Egyptian General Petroleum Corporation (EGPC) in the international bid round 2011, lies adjacent to the company’s operated production license Ras Burdan in the Gulf of Suez, Egypt.
RWE Dea Egypt general manager Maximilian Fellner said the new acquisition supplements the company’s balanced oil and gas license portfolio in Egypt.
"The block is located in a prolific oil prone area and provides an exciting add-on to RWE Dea’s operations in the Offshore Gulf of Suez," Fellner added.
The block covers an area of about 46km² and RWE Dea will operate the block.
In the concession, RWE Dea will own 80% working interest, while Dove Energy will hold the remaining 20% share.
The license, however, is subject to official approval from the Egyptian Parliament.
