EGYPT/EAST MEDITERRANEAN

TransGlobe Targets Egyptian Growth Despite Delayed Payments

Canadian independent TransGlobe Energy is looking to Egypt to power the company’s production despite being hit by delays to government payments and permit approvals. Completion of the $75mn purchase of the 4,350 b/d West Bakr permit from Japan’s Inpex at the end of 2011 boosted the company’s net Egyptian production to almost 17,000 b/d. But the company continues to await government...