Vegas Oil and Gas

Vegas Oil and Gas S.A.
Company typePrivate
IndustryPetroleum and gas exploration
Founded2003
Headquarters
Athens
,
Greece
Area served
SE Europe, Northern Africa
Key people
Giannis Vardinogiannis (Chairman)
Hussein Kamel (V. Chairman)
ProductsOil and Gas production
Websitewww.vegasoil.com

Vegas Oil and Gas S.A. is a company based in Egypt focusing on petroleum exploration and gas exploration. It is headquartered in Athens, but mainly operates from the Cairo suburb of Maadi.[1]

Vegas is wholly owned by the Vardinogiannis family.

Activities

Vegas is also a large E&P group of companies with assets in USA, Egypt and Yemen.[2]

It is 50% shareholder and operator of the NW Gemsa concession, Circle Oil have a 40% interest and Sea Dragon Energy have the remaining 10%.[3] Oil production from the NW Gemsa concession peaked at 9,000 bbl/d (1,400 m3/d).[4] All gas currently produced from the field is flared, due to sub-economic, low volumes.[5]

Vegas is a 35% shareholder in the Alam El Shawish West concession, with Shell Egypt (operator, 40%), GDF Suez 25%.[6]

It is operator and 50% shareholder of the East Ghazalat concession (Western Desert), with TransGlobe Energy Corporation holding the remaining 50%.[7][8]

In August 2013, Vegas announced it had discovered oil, gas and condensate in Egypt.[9]

See also

References

  1. ^ "Vegas Welcomes Shell in Egyptian Concession". Rigzone. Retrieved 2010-01-17.
  2. ^ "Vegas Oil & Gas S.A." Linkedin. Retrieved 2010-06-05.
  3. ^ "Egypt: Shell acquires interest in Alam El Shawish concession in deal with GDF Suez and Vegas Oil & Gas". Retrieved 2010-01-15.
  4. ^ "Sea Dragon Announces Completion of Al-Amir". Gulf oil and gas. Retrieved 2010-01-15.
  5. ^ "Egypt oil and gas". Egypt oil and gas. Retrieved 2010-01-19.
  6. ^ "Shell Egypt to buy 40 pct of W. Desert concession". Reuters. 2010-01-14. Archived from the original on February 2, 2013. Retrieved 2010-01-15.
  7. ^ "Vegas booms on the exploration route". Egypt oil and gas. Retrieved 2010-01-17.
  8. ^ "CNN money". CNN. Retrieved 2010-01-25.
  9. ^ Vegas Oil & Gas discovers oil, gas and condensate in Egypt, Africa: Oil Review Africa, 2013