Vegas Oil and Gas
From Wikipedia, the free encyclopedia
 | |
| Company type | Private |
|---|---|
| Industry | Petroleum and gas exploration |
| Founded | 2003 |
| Headquarters | , |
Area served | SE Europe, Northern Africa |
Key people | Giannis Vardinogiannis (Chairman) Hussein Kamel (V. Chairman) |
| Products | Oil and Gas production |
| Website | www.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.
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]
