January 2013

Local Lab to the World for 25 Years!

2014 begins a very special anniversary for StratoChem Services--our 25th year providing geochemical analysis to the upstream oil and gas industry at home in Egypt and around the world. In an industry where companies measure their lifetimes in months rather than years, we're proud to have lasted a quarter-century, and we think there are two reasons. One is the high quality of our geochemical data and scientific interpretations and a commitment to using only the most cutting-edge instrumentation. An equally important reason is you, our clients. We want to take this opportunity to thank you for helping us reach this point, and invite you along to join us for the next twenty-five years.

Celebrating 25 Years in the Exploration & Production Industry

In 1989, two Egyptian geoscientists founded a geochemical laboratory using just their own savings and a few second-hand instruments. A group effort from the beginning, StratoChem hired the best scientists and technicians available to provide top-quality geochemical analysis and interpretation to companies exploring for hydrocarbons in Egypt. Integrating years of experience in the oil and gas industry with a client-centered service model intended to give customers the data and analysis needed to make informed decisions, StratoChem grew from these humble beginnings into the largest independent geochemical laboratory in the Middle East, serving a broad variety of companies from independent local operators to supermajors.

Twenty-five years later, StratoChem has worked in over twenty different countries on four different continents, with no sign of slowing down. With a commitment to using only the most current technologies and providing only the best possible analysis and interpretation, StratoChem's work has made the difference for numerous companies working as far afield as Oman, Indonesia, the United States, Switzerland, Kazakhstan, and many more.

With the Levantine Basin and Western Desert studies available on the market and two full-time staff members on-hand in the United States to answer questions and facilitate services for American clients, the little lab in Cairo has grown into a lasting upstream presence.

 January 2nd, 2014
(gulfoilandgas.com)

Interim President Adly Mansour issued decrees approving eight new oil agreements to search for oil and gas with investments of at least US$1.2 billion. Seven of the agreements are for the Egyptian Natural Gas Holding Company (EGAS) with Emirati, Italian, English, Irish and Canadian companies. The eighth is amending an agreement of The Egyptian General Petroleum Corporation (EGPC). The new agreements include exploration for oil and gas in the Mediterranean, the Nile Delta and the Gulf of Suez. These areas have been put forward by EGAS for the drilling of a minimum of 17 new wells for exploration purposes during the three-year period of research. The agreements take into account economic balance, which ensures the country's right of fine revenue, and motivates foreign investors to pump more investments to increase exploration, reserves and production. It is noteworthy that the president had already issued 21 decrees for petroleum agreements for oil and gas with international companies, with investments of a minimum of $713 million, including the drilling of 109 wells.

January 2nd, 2014
(www.gulfoilandgas.com)

Sea Dragon Energy Inc. announced the acquisition of an equity interest in the South Ramadan Concession located offshore in the Gulf of Suez, Egypt.

The 26.2 km2 concession, located in 27m of water, contains two proven productive horizons in the Eocene age Thebes and Senonian age Matulla carbonates. These horizons, combined, have produced 3.75 MMBO of light oil (31'API) to date from two previously drilled wells tied back to an existing platform.

The concession is also located between the giant Ramadan field (550 MMBO) and the Saqqara field (80 MMBO) both of which produce light oil from the Lower Cretaceous age Nubia sandstones which are the primary development targets within this concession. The work commitment, over the 10 year extension period, is $23MM which consists of 1 new well and facility upgrades.

Sea Dragon is a 12.75% equity owner in the South Ramadan concession with Pico holding 37.5% and operatorship and GPC holding the remaining 50%.

Commenting, Paul Welch, CEO of Sea Dragon, said: 'Securing an interest in this concession underpins our focus on developing reserves and expanding production within the Gulf of Suez Fairway that we have been developing over the last year. The capital raised from the recent sale of our Upper Egypt assets will be redeployed into an area where we've had considerable success and understand the geology well. I am looking forward to reporting on the development of this concession in the coming months.'

Egyptian General Petroleum Corporation Announces New Bid Round

The EGPC 2013 International Bid Round has just opened to interested companies. Featuring 15 blocks up for bid in the Suez and Western Desert regions, the bid round will last until May 19th, 2014. Companies interested in participating are urged to read the official bid round announcement and contact the appropriate officials.

January 1st, 2013
(english.ahram.org.eg)

In This Issue

1/19 - "International Petroleum Technology Conference: IPTC 2014" - London, UK

1/21 - "Offshore West Africa" - Accra, Ghana

1/27 - "Middle East & North Africa: New Uncertainties & New Opportunities" - London, UK

1/29 - "Powering Africa: Tanzania" - Dar Es Salaam, Tanzania