Vegas Oil and Gas
 |
|
| Private | |
| Industry | Petroleum and gas exploration |
| Founded | 2003 |
| Headquarters | Athens, Greece |
|
Area served
|
SE Europe, Northern Africa |
|
Key people
|
Vardis Vardinogiannis (Chairman) Hussein Kamel (V. Chairman) Giannis Vardinogiannis (CEO) |
| Products | Oil and Gas production |
| Profit |
 €131 million (2014) |
| Total assets |
€4.6 billion (2015) |
|
Number of employees
|
1,200 (2014)
|
| Website | www.vegasoil.com |
Vegas Oil and Gas S.A. is a company based in Egypt focusing on petroleum exploration and gas exploration. Headquartered in Athens, but mainly operating from the Cairo suburb of Maadi.
Vegas is wholly owned by the Vardinogiannis family.
Vegas is also a large E&P group of companies with assets in USA, Egypt and Yemen.
It is 50% shareholder and operator of the NW Gemsa concession, Circle Oil have a 40% interest and Sea Dragon Energy have the remaining 10%. Oil production from the NW Gemsa concession peaked at 9,000 bbl/d (1,400 m3/d). All gas currently produced from the field is flared, due to sub-economic, low volumes.
Vegas is a 35% shareholder in the Alam El Shawish West concession, with Shell Egypt (operator, 40%), GDF Suez 25%.
It is operator and 50% shareholder of the East Ghazalat concession (Western Desert), with TransGlobe Energy Corporation holding the remaining 50%.
In August 2013, Vegas announced it had discovered oil, gas and condensate in Egypt.
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Wikipedia