Project Profile
Location: West Gharib, Arab Republic of Egypt
Area: 508 square kilometre (125,000 acre)
Relinquishment year: late 2016
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 508 square kilometre (125,000 acre) South East Gharib PSC is located immediately south of the South West Gharib concession. The company will acquire extensive 2-D and 3-D seismic over this area prior to drilling exploration wells in the first exploration phase.
Operators:
TransGlobe Energy Corporation: Operator with 100% interest