In July 2007, ENGIE acquired a 45% non-operated working interest in the Alam El Shawish West (AESW) concession in the western desert, operated by Vegas Oil & Gas who owned the remaining 55% working interest.
A joint venture between Vegas, ENGIE and EGPC was formed and named PetroAlam to operate, further appraise and develop the concession.
In December 2009, both ENGIE and Vegas Oil & Gas sold a 20% participating interest in the Alam El Shawish West concession to Shell Egypt who became the operator in 2010 with a 40% participating interest. ENGIE maintained a 25% participation interest.
First production from the concession started in December 2007 and in 2010, average oil production rate was about 2,150 bbl/d through ten wells. Development drilling was continued in 2008/2010.
The development of AESW started in 2010 with the construction of an early production facility that brought gas on stream in July 2010. At the end of 2014, the cumulated production frim the AESW reached 31,8 million barrels of oil equivalent. The estimated remaining 2P reserves are 132.9 million barrels of oil equivalent.
GDF SUEZ Exploration Egypt B.V.
Nile Tower - 9(G) Ahmed Kamel Street
El Laselky - New Maadi
Cairo - Egypt
Phone: +202 251 715 19
Fax: +202 251 715 20