Project Profile

Value: Undisclosed
Location: West of the Jurassic gas/condensate and Cretaceous oil discovery at North Dabaa 1X, in East Ghazalat PSC, Arab Republic of Egypt
Area: 1,883 square kilometre (465,000 acre)
Start-up Year: -

TransGlobe has received written notice from the Egyptian Government that the Production Sharing Concession (PSC) (100% working interest) which was won in the 2011/2012 EGPC bid round has been ratified into Law. It is expected that the new PSC will be effective following the customary documentation associated with work program guarantees, settlement of signature bonuses and an official signing ceremony which is expected to occur in October 2013. The 1,883 square kilometre (465,000 acre) South Ghazalat PSC is located immediately to the west of the recently announced Jurassic gas/condensate and Cretaceous oil discovery at North Dabaa 1X in the East Ghazalat PSC. The company will acquire extensive 3D seismic over this area prior to drilling exploration wells in the first exploration phase.

Operators:

TransGlobe Energy Corporation: Operator with 100% interest