ADES wins oil production contract from EGPC

13/12/2023 Argaam

ADES wins oil production contract from EGPC

Logo of ADES Holding Co.

ADES Holding Co. was awarded a service contract agreement (LOA) with the Egyptian General Petroleum Corporation (EGPC) – as part of a consortium partnership with a leading local exploration and production (E&P) player – to operate and enhance production in key oil brownfields in Egypt, namely the SUCO and OSOCO fields.

 

The new award has a 10-year tenor, extendable for a further 10 years, ADES said in a statement to Tadawul.

 

There are no related parties to the deal, the statement added.

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