Egypt - East Zeit Bay

Egypt - East Zeit Bay

East Zeit Bay (in which Dragon Oil has a 100% interest) is located offshore in the prolific southern Gulf of Suez region. The block covers an area of 93 km2 and lies in shallow waters ranging in depth from 10 to 40 metres.

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Dragon Oil participated in the Ganope International 2012 Bid Round #1, which included 20 exploration blocks in the Western Desert, Eastern Desert, Red Sea and the Gulf of Suez. In November 2013, Dragon Oil's offer for East Zeit bay in the Gulf of Suez, Egypt, was initially accepted by Ganoub El Wadi Holding Petroleum Company (Ganope), one of the main entities of the Petroleum Ministry responsible for all exploration and production activities in the southern part of Egypt. The contract was signed on 19 May 2014. We hired a country manager and set up an office in Cairo. We commenced the work programme as per the Production Sharing Agreement

East Zeit Bay (in which Dragon Oil has a 100% interest) is located offshore in the prolific southern Gulf of Suez region. The block covers an area of 93 km2 and lies in shallow waters ranging in depth from 10 to 40 metres. A number of producing oil fields are adjacent to or near the block, namely East Zeit, Hilal, Ashrafi, SW Ashrafi and Zeit Bay fields.

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