EGYPT - Eastern Desert
TransGlobe's initial entry into Egypt occurred in July 2004 when the Company entered into a farm-out agreement and earned a 50% interest in the Nuqra Concession.
In September 2007, TransGlobe significantly expanded its Egyptian operations with the acquisition of approximately 55% and operatorship of the West Gharib Concession; this was followed by the acquisition of an additional 30% in February 2008, and the final 15% in August 2008, to give the Company 100% of the West Gharib concession.
In December 2011, TransGlobe acquired a 100% working interest in the West Bakr concession.
In November 2013, TransGlobe acquired a 100% working interest in the NW Gharib, SW Gharib, SE Gharib and South Ghazalat concessions.
In November 2016, TransGlobe relinquished SE Gharib following completion of the first phase of exploration commitments. In May 2017, TransGlobe relinquished SW Gharib following completion of it’s exploration commitments. TransGlobe also relinquished NW Gharib’s exploration land in May 2017, and retains four development areas, one in production and three pending approval. TransGlobe holds a 100% working interest in six concessions in Egypt.