Strategy
Expertise
Vegas has:
Leveraged internal technical skills to screen and select prime acreage for exploration
Built success on acquiring licenses (100%) on entry level terms via bid rounds.
Financial capacity to bid competitively for new licenses and discharge the work obligations
First class operating capability to explore acreage efficiently making best use of modern technology.
Commercial awareness to dilute working interests at the appropriate time for business rather than financial imperatives
Built an enviable track record of monetising assets quickly and safely
Developed a position as “operator of choice” in its core areas leading to JV alignment and ease of decision making.
Material working interests in its assets and control of the investment schedule through operatorship
Trades on strong relations with EGPC, EGAS, GANOUPE and the Ministry based on its proven track record in country
Strategy
Our strategy is designed to create shareholder value principally through sound technical work which drives exploration success. Delivery of results through the drill bit is a recognized “game-changer” in the upstream sector. Vegas has consistently delivered exploration success. Vegas has rapidly monetized this created value through farm-outs whilst generally retaining control through operating the concession through full field development.
Key elements of this strategy are:
Core Areas of Proven Expertise
We focus mainly in the Western Desert – onshore Egypt. This is a world class hydrocarbon province with mature infrastructure and proven plays. Our knowledge of this basin provides a competitive advantage in identifying acreage of high potential and acquiring new licenses. New acreage has historically been acquired with 100% working interest allowing efficient and timely exploration.
North West Gemsa is located in the Eastern Desert, again a prolific basin. This was the first concession acquired by Vegas and is now converted to a development lease.
Operating Philosophy
We are a well established operator in Egypt with an enviable track record of finding and producing hydrocarbons. Acquiring concessions with 100% working interest provides the opportunity to control the pace of activity. This has allowed us to accelerate drilling programmes without partner drag and to reduce the discovery to development cycle times.
Unlike many exploration led companies, we aim to retain and operate our assets through the development stages to cessation of production in order to
secure access to long term cash flow to stimulate growth
access future field upside
continue exploration activities
build a reserves base
grow skills and competencies
We will reduce risk by finding strategic partners ahead of field developments. This approach generates early returns on initial investments and brings in additional ideas and experience to better manage the assets.
We always take a pragmatic approach to business. In developing Alam El-Shawish West through the nearby Shell infrastructure, the benefits of Shell joining as a joint venture partner created mutual synergies. In this case, we transferred the operatorship to Shell to streamline the overall development.
Strategy
Expertise
Vegas has:
Leveraged internal technical skills to screen and select prime acreage for exploration
Built success on acquiring licenses (100%) on entry level terms via bid rounds.
Financial capacity to bid competitively for new licenses and discharge the work obligations
First class operating capability to explore acreage efficiently making best use of modern technology.
Commercial awareness to dilute working interests at the appropriate time for business rather than financial imperatives
Built an enviable track record of monetising assets quickly and safely
Developed a position as “operator of choice” in its core areas leading to JV alignment and ease of decision making.
Material working interests in its assets and control of the investment schedule through operatorship
Trades on strong relations with EGPC, EGAS, GANOUPE and the Ministry based on its proven track record in country
Strategy
Our strategy is designed to create shareholder value principally through sound technical work which drives exploration success. Delivery of results through the drill bit is a recognized “game-changer” in the upstream sector. Vegas has consistently delivered exploration success. Vegas has rapidly monetized this created value through farm-outs whilst generally retaining control through operating the concession through full field development.
Key elements of this strategy are:
Core Areas of Proven Expertise
We focus mainly in the Western Desert – onshore Egypt. This is a world class hydrocarbon province with mature infrastructure and proven plays. Our knowledge of this basin provides a competitive advantage in identifying acreage of high potential and acquiring new licenses. New acreage has historically been acquired with 100% working interest allowing efficient and timely exploration.
North West Gemsa is located in the Eastern Desert, again a prolific basin. This was the first concession acquired by Vegas and is now converted to a development lease.
Operating Philosophy
We are a well established operator in Egypt with an enviable track record of finding and producing hydrocarbons. Acquiring concessions with 100% working interest provides the opportunity to control the pace of activity. This has allowed us to accelerate drilling programmes without partner drag and to reduce the discovery to development cycle times.
Unlike many exploration led companies, we aim to retain and operate our assets through the development stages to cessation of production in order to
secure access to long term cash flow to stimulate growth
access future field upside
continue exploration activities
build a reserves base
grow skills and competencies
We will reduce risk by finding strategic partners ahead of field developments. This approach generates early returns on initial investments and brings in additional ideas and experience to better manage the assets.
We always take a pragmatic approach to business. In developing Alam El-Shawish West through the nearby Shell infrastructure, the benefits of Shell joining as a joint venture partner created mutual synergies. In this case, we transferred the operatorship to Shell to streamline the overall development.
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