Vegas Oil and Gas

Vegas Oil and Gas S.A.
Private
Industry Petroleum and gas exploration
Founded 2003
Headquarters Athens, Greece
Area served
 SE Europe, Northern Africa
Key people
 Vardis Vardinogiannis (Chairman)
Hussein Kamel (V. Chairman)
Giannis Vardinogiannis (CEO)
Products Oil and Gas production
Profit Increase €131 million (2014)
Total assets Increase €4.6 billion (2015)
Number of employees
 Increase 1,200 (2014)
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.

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]

Recent news

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

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. 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
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