Category: Petroleum and Gas

Cheiron is pleased to announce a gas discovery in the ED-2X well drilled on the East Damanhur Concession, onshore in the Nile Delta.  Cheiron acquired a 40% working interest in the block in October 2020 through an exploration farm-in and the other owners are the Wintershall Dea (the operator, with a 40% working interest) and INA (20% working interest). The exploration activities under the new Concession Agreement commenced in November 2021 and the new gas discovery was made with the…

As part of Cheiron’s efforts to reduce GHG emissions across its operations, it is working closely with its various Joint Operating Companies (“JOCs”) to identify and implement investment opportunities specifically focussed on emissions reductions. Cheiron has also set ambitious goals to encourage these initiatives, including a target to reduce its GHG emissions intensity (tCO2eq/toeq) 25% by 2025 and has also committed to eliminate routine flaring as soon as practical and in any event no later than 2030, in line with…

Cheiron Petroleum Corporation (“Cheiron”) is pleased to announce that it has completed the acquisition of 50% of Shell’s upstream oil and gas assets in the Western Desert.  The remaining 50% of the interests will be purchased by Cairn Energy PLC (“Cairn”), Cheiron’s strategic partner. The acquisition confirms Cheiron position as a leading Egyptian oil and gas operator and, following its successful long term investment program in the Gulf of Suez, cements its position as a Western Desert producer. The acquired…

Cheiron is pleased to announce that it has acquired a 40% working interest in the East Damanhur Concession (the “Concession”) from Wintershall Dea, which will continue to operate the Concession, and INA-Industrija nafte, d.d. has acquired the remaining 20%. The Concession is located in the western region of the onshore Nile Delta, close to Cheiron’s West El Burullus offshore development lease in the shallow waters of the Mediterranean Sea. The acreage is relatively underexplored and has a material level of…

Cheiron Petroleum Corporation (“Cheiron”), Egypt’s largest independent Exploration and Production company, is pleased to announce that it has agreed to purchase 50% of Shell’s upstream oil and gas interests in the Western Desert. The remaining 50% of the interests will be purchased by Cheiron’s strategic partner, Cairn Energy plc, a new entrant into the Egyptian upstream sector. Cheiron will operate the production and development concessions in the asset portfolio, using the experience gained over three decades of improving safety, production,…

Cheiron is pleased to announce it has been awarded the new North Zaafarana Concession. The Concession has been effective from 17 January 2018 and is valid for a total period of 15 years. Cheiron has an 80% working interest, with Sahara O&G holding the remaining 20%. The Concession covers an area of 347 square kilometers and is located 6.5 km from the coast in 57 m of water depth. The field is currently producing over 3,000 bopd (gross) and holds…

PICO Cheiron Group is pleased to announce that it has completed the corporate acquisition of Sahara North Baharya, giving the Group ownership of a 50% Working Interest and Operatorship of the North Baharya concession in the Western Desert. The North Baharya concession covers an area of around 177 square kilometers and contains six oil fields, namely Abrar, Ferdaus, Ganna, Rawda, Sidra and Rayan, producing from the Cretaceous Abu Roash formation. On a combined basis, the fields are producing over 8,000 bopd…

PICO Cheiron Group secured a five-year extension (until June 2022) for its Geisum and Tawila West Concession.  The Group is now in further negotiation for an additional five-year extension.…

On 22 December 2016, Romanian National Agency for Mineral Resources (NAMR) approved extensions for our Oporelu, Cosminele, Chislaz and Cosesti fields for three and a half years until 2020.…