UK’s Rockhopper Exploration began production from its Jahraa 6 oil well in the Western Desert’s Abu Sennan concession, bringing the concession to 3,800 bopd, the company said in a statement (pdf). Rockhopper has a 22% interest in the concession and is owed arrears of USD c. 1.9 mn from the EGPC, the company was sure to note. The company said last year its operations in Egypt are stable and is continuing to see reductions in its arrears.
More from Enterprise
Banque du Caire opens its IPO books at EGP 4.82-5.30 a share, with room to grow to 45%
The state-owned lender could raise up to EGP 36.4 bn,…
Inside the financing of Egypt’s IPP boom
The contracts and the resources are proven, so the open…
FRA and EGX eye law change to let LLCs and partnerships set up investment funds
Regulators want to keep Egyptian money from setting up funds…
Egyptian-UK fintech Zeal raises USD 10 mn to back expansion plans
The London-based, Egyptian-founded fintech is preparing to activate its loyalty…