Apex International Energy Acquires Interests in Six Western Desert Concessions from IEOC (Eni unit)
January 10, 2023
Apex International Energy acquired interests in six oil and gas concessions in Egypt's Western Desert from IEOC Production B.V., a unit of Eni S.p.A., and will operate most of the assets through the PetroFarah joint venture with EGPC. The deal expands Apex's working interest acreage to about 1.0 million acres and is expected to raise combined production toward ~11,500 barrels per day while providing access to strategic pipeline and infrastructure used by Apex's SEM operations.
- Buyers
- Apex International Energy
- Targets
- Ras Qattara concession, West El Razzak concession, East Kanayis concession, West Abu Gharadig concession, East Obaiyed concession (25% interest), South West Meleiha concession (25% interest)
- Sellers
- IEOC Production B.V., Eni S.p.A.
- Industry
- Oil & Gas
- Location
- Egypt
- Transaction Type
- Buyout
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