MENA Hydrocarbons announces expiry of the agreement to acquire offshore development lease

Tuesday, January 3, 2012      
  • MENA Hydrocarbons acquires 55 percent participating interest in offshore development lease expired December 31, 2011.

MENA Hydrocarbons Inc. announces that the agreement to acquire a 55 percent participating interest in an offshore development lease located 60km off the Mediterranean coast of Egypt expired December 31, 2011, the deadline date for obtaining consent from the Egyptian General Petroleum Company to the assignment. Graham Lyon, President & Chief Executive Officer of MENA, commented that "While it is disappointing the vendor was unable to attain the assignment within the time permitted, MENA continues to seek value creating acquisitions and has several attractive opportunities under review."


Article Tags

MENA Hydrocarbons Egyptian General Petroleum Corporation (EGPC) Egypt Middle East Acquisitions & Mergers Operations Update North Africa

This article is for information and discussion purposes only and does not form a recommendation to invest or otherwise. The value of an investment may fall. The investments referred to in this article may not be suitable for all investors, and if in doubt, an investor should seek advice from a qualified investment adviser. More

Related News

Join 80,000 oil and gas professionals who receive our weekly newsletter.

You may unsubscribe at any time with one click.

Upcoming OilVoice Training Course

Petroleum Systems of East Africa
Summary Course is split into two sections, namely a regional review of East Africa’s geological development through time (including numerous paleogeographic paleotectonic and source rock maps) and a review of the elements of several discrete basin categories, with a type example used for each. Inclu...
London - 12 May

Duncan Macgregor


Discount Code
OilVoice-10 for 10% off any course.View Course

All OilVoice Training Courses
Popular Headlines View all

Mars Omega Inside Track View all

OilVoice has teamed up with specialist information providers Mars Omega, to provide you with exclusive reports on the most complex and volatile areas of exploration.

Politics and power: an insight into Iran's decision makers and takers

Nigeria: navigating the Delta

Latest Opinion View all

Join 90,000 other oil and gas professionals

Network with others, build your profile, and receive the latest oil and gas news in your inbox. It's free!

Create profile

Time for a change? All jobs Jobs near you

OilVoice Training All upcoming


OilVoice, established in 2002, is your leading source of upstream news, jobs and industry information.


Each week we send our weekly industry round-up. Why not try it? You may unsubscribe at any time.

Contact OilVoice

Milton Keynes
United Kingdom
Phone: +44 207 993 5991
Contact Us

Stay Connected

2015 © OilVoice  .  Privacy Policy  .  Terms of Service  .  Oil Careers  .  Advertise with us