Middle East Economic Survey

VOL. LIII

No 47

22-Nov-2010

EGYPT

Premier Oil Farms In To Hesss North Red Sea Block 1

British company Premier Oil has taken a 20% stake in Egypts North Red Sea Block 1, following an agreement with Hess Corporation, which holds the offshore license outright. Premier, which was recently provisionally awarded the South Darag concession in the Gulf of Suez during a licensing round, said that it believes Gulf of Suez plays extend into the new acquisition. A deepwater...