Vegas East Lagia - Onshore Egypt
Company name: Vegas East Lagia Incorporated
Address: Athens
Phone number: +30 693 692 7098
E-mail: Loukas Tripelopoulos
Company Website: http://www.vegasoil.com
Project : Vegas East Lagia - Onshore Egypt
Type of deal: Farm out
Basin: Gulf of Suez Rift Basin & Northern Egypt Jurassic Rift Basin
Type of project: Exploration
Location (On/Offshore): Onshore
Area: North Africa
Description: The East Lagia concession is located in the Sinai Peninsula, onshore Egypt. It comprises 2,989 km2 of acreage and is owned and operated by Vegas with 100% working interest. Although awarded in 2013, the concession remains in the initial exploration phase. All work obligations and financial obligations of the initial exploration phase have been met. Ground Grav-mag data indicates a number of large possible structures which will be de-risked further through the planned 2D seismic survey. Play types are varied but conventional in nature. Mature fields some 8-16km away confirm an active hydrocarbon system locally. Vegas is a well established operator in Egypt and is now seeking a farmin partner on standard industry terms ahead of the seismic programme. Surface Geochemical Survey is also planned during field operations. Costs for each are budgeted at $3.9mm and $0.4mm respectively. Mobilisation is planned for November 2018 in case vibroseis source will only be used.
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