Egypt El Fayum West
Cairn Energy are seeking investement to develop the fields within the El Fayum West concession.
Cairn Energy farmed in to the El Fayum West Block in 2019 after Merlon International was sold by it’s prive equity backers, Yorktown.
El Fayum has estimated recoverable resources of 125-150 million barrels and had produced around 18 million barrels by the end of last year. Merlon produced around 7,900 barrels of oil equivalent per day in 2017 from more than 50 wells in the El Fayum region, 80 kilometres (50 miles) south of Cairo, according to its website.
The development concession was awarded in 2004 and the lease could be extended until 2040.
Interest in Egypt’s oil and gas sector has risen in recent years following a number of large gas offshore discoveries and economic reforms in the country.