Middle East Economic Survey

VOL. LIII

No 5

1-Feb-2010

EGYPT

TransGlobe Farms Into Vegas Egyptian Concession

Canadas TransGlobe Energy Corporation has signed a farm-in agreement with Vegas Oil and Gas to take a 50% working interest in the East Ghazalat concession in western Egypt. TransGlobe will invest $9mn for the drilling of three new exploration wells on the holding, which covers an area of 858 sq km in the Abu Gharadiq basin of the countrys western desert, some 250km west of...