International Egyptian Oil Company holds 60 per cent stake in concession
International Egyptian Oil Company (IEOC) has started gas production from its North Bardawil field in the Mediterranean off Egypt’s coast.
The company says the expected maximum production rate from the field will be 95 million cubic feet a day (cf/d).
IEOC, the Egyptian subsidiary of Italian oil company Eni, has a 60 per cent stake in the North Bardawil concession and Kuwait Foreign Petroleum Exploration Company owns 40 per cent.
The operator is Petrobel, a joint operating company comprised of IEOC and the state-run Egypt General Petroleum Corporation (EGPC).
In 2008 IEOC recorded 240,000 barrels a day (b/d) of oil from its Egypt operations.
A MEED Subscription...
Subscribe or upgrade your current MEED.com package to support your strategic planning with the MENA region’s best source of business information. Proceed to our online shop below to find out more about the features in each package.