| Vegas Oil and Gas S.A. | |
| Type: | Private |
| Foundation: | 2003 |
| Location City: | Athens |
| Location Country: | Greece |
| Key People: | Giannis Vardinogiannis (Chairman) Hussein Kamel (V. Chairman) |
| Industry: | Petroleum and gas exploration |
| Area Served: | SE Europe, Northern Africa |
| Products: | Oil and Gas production |
| Homepage: | www.vegasoil.com |
Vegas Oil and Gas S.A. is a company based in Egypt focusing on petroleum exploration and gas exploration. It is headquartered in Athens, but mainly operates from the Cairo suburb of Maadi.[1]
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.[2]
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%.[3] Oil production from the NW Gemsa concession peaked at 9000oilbbl/d.[4] All gas currently produced from the field is flared, due to sub-economic, low volumes.[5]
Vegas is a 35% shareholder in the Alam El Shawish West concession, with Shell Egypt (operator, 40%), GDF Suez 25%.[6]
It is operator and 50% shareholder of the East Ghazalat concession (Western Desert), with TransGlobe Energy Corporation holding the remaining 50%.[7] [8]
In August 2013, Vegas announced it had discovered oil, gas and condensate in Egypt.