Pravda.ru

News » Economics

Egyptian Petroleum Concession

12.08.2002 | Source:

Pravda.Ru

 

Agreement Dover Petroleum Corp. and Dover Investments Limited signed Concession Agreement for Petroleum Exploration and Exploitation throughout the East Wadi Araba Area of the Gulf of Suez. The Concession Agreement covers an area of 393 square kilometers (151.7 square miles). Dover Investments Limited is a party to the Concession Agreement with the Arab Republic of Egypt and the Egyptian General Petroleum Corporation. Dover Petroleum Corp.'s wholly owned subsidiary, Dover Petroleum Egypt I, Inc., owns a 50% interest in Dover Egypt I JV, which is a party to an Option Agreement entitling Dover Egypt I JV to acquire 100% of Dover Investments Limited operator's interest in the East Wadi Araba Concession Agreement. Under the Option Agreement, and as required by the Concession Agreement, Dover Egypt I JV has budgeted spending of $12 million for drilling of 6 proposed exploration wells over the next 7 years. Drilling of the first of two exploration wells is expected to start in September.

©

&to=http://www.doverpetroleum.com' target=_blank>Dover Petroleum

 







Popular photos


Most popular

The West has raped, killed and destroyed the whole world
The West has raped, killed and destroyed the whole world
Look at the number of wars that NATO has held in the recent decades: Iraq war, Bosnian war, Yugoslav war, the war in Libya, second Iraq war, Afghanistan, Syria. Then there was the invasion of Somalia...
British PM threatens Russia with nuclear strike again
British PM threatens Russia with nuclear strike again
The PM of Great Britain decided to threaten Russia with nuclear weapon once again, speaking at a press conference after her visit to Bratislava.
Рейтинг@Mail.ru Rambler_s_Top100_Service