Middle East Economic Survey
VOL. LIII
No 51
20-Dec-2010
EGYPT
East West Takes 20% Stake In Western Desert Concession
East West Petroleum has acquired a 20% stake in Kuwait Energy Companys Burg el-Arab onshore concession in Egypts Western Desert. Kuwait Energy will retain a 55% stake and operatorship in the acreage, which is currently producing approximately 500 b/d of oil and where several oil bearing reservoirs have been identified. The Canadian exploration company will pay $17.5mn to...
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