Egypt: SacOil acquires Lagia field


Issue 284 - 12 Sep 2014 | 1 minute read

South Africa’s SacOil has agreed to acquire Cyprus-registered Mena International Petroleum Company, which has the development lease for the Lagia oil field in the Sinai Peninsula. The field is at the development stage with 16-18° API heavy oil in shallow reservoirs and light oil potential in deeper reservoirs. The assets include production facilities and storage for 3,000 barrels of oil. Test production has started, and SacOil said it would implement a phased development programme to bring the field into full production.

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