Energean gets Total’s stake in the Ionian - KATHIMERINI

27.02.2020 : 22:11
Chryssa Liaggou

Greek oil enterprise Energean has secured its entry into Block 2 of the Ionian Sea by buying out the stake of French company Total, which had been seeking to disengage from the region for months.

Total had a 50 percent stake in the consortium to survey Block 2, while Hellenic Petroleum and Edison each hold 25 percent. Sources say Total first offered its two partners the stake but that they were not interested. Energean agreed to buy it because it appreciates the synergies this particular block presents with the other areas it has undertaken in Greece (Ioannina), as well as similar ones in Montenegro and the concessions of Edison in Italy.

SDX Energy begins gas production at Egyptian site - CITY A.M

Tuesday 12 November 2019 12:47 pm

UK oil and gas exploratory firm SDX Energy announced this morning that production had started at the company’s South Disouq concession in Egypt.

Each of the site’s four discovery wells have been tested and gas has been flowing since the 7 November.

All gas production at the site, in which SDX owns a 55 per cent stake, will be sold to Egypt’s national gas company Egas.

The company said that initial flow rates were in line with expectations and that SDX will gradually ramp up production with a view to achieving its targeted production rate of 50m standard feet per day in the first quarter of 2020.