Neptune Energy today signed an operated exploration licence with the Egyptian General Petroleum
Corporation (EGPC) for Egypt’s North-west El Amal Offshore Concession, underlining the company’s
commitment to growing its presence in North Africa, an important region for the business.
Neptune will acquire 100 km2 of 3D seismic data and drill one exploration well in the first phase,
with two further wells planned in phase two.
The North-west El Amal Offshore concession covers 365 km2 and is located in the central part of the
Gulf of Suez, approximately 42 km south of Ras Gharib and 105 km north of Hurghada.
The signing ceremony was held today at the Egypt Petroleum Show (EGYPS) and was attended by
minister of Petroleum and Mineral Resources, His Excellency Eng. Tarek El Molla, CEO of EGPC, Abed
Ezz El Regal; Neptune Energy’s CEO Jim House, VP North Africa & Asia Pacific Philip Lafeber and Egypt
Managing Director Gamal Kassem.
Neptune ceo, Jim House said: “Our strategy is to invest and grow our presence in Egypt which is an
important market for Neptune. We are committed to strengthening our presence in North Africa
through exploration and production activities.
“This is another important step for Neptune in the region and we’re pleased to build on our strong
relationships with our partners and with the Ministry.”
Egypt managing director, Gamal Kassem added: “The Gulf of Suez provides many promising prospects
and we look forward to working closely with EGPC to grow Neptune’s business in Egypt.”