Company type | Private |
---|---|
Industry | Petroleum and gas exploration |
Founded | 2003 |
Headquarters | , |
Area served | SE Europe, Northern Africa |
Key people |
Vardis Vardinogiannis (
Chairman) Hussein Kamel ( V. Chairman) Giannis Vardinogiannis ( CEO) |
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. Headquartered in Athens, but mainly operating 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]