Disouq Petroleum Company (DISOUCO)

Disouq Petroleum Company - DISOUCO is joint venture company between EGAS and Wintershall Dea Nile GmbH companies, produces gas at Disouq in the onshore Nile Delta, the production started in 2013. Since the year 2008 Wintershall Dea Nile GmbH had discovered seven gas fields in Disouq concession located in Kafr El Sheikh Governorate in the Nile Delta. EGAS and Wintershall Dea agreed on the Development Plan based on two development leases within the concession area. They also agreed as shareholders that Wintershall Dea will complete the devolvement to ensure first gas and hand over the Operation Phase to DISOUCO when the Project is completed. On September 21st, 2011, SUCO has received the ministerial decree No. 2420 of 2011 announcing that the Joint Venture Company name for developing the Disouq Concession area at the Nile Delta will be Disouq Petroleum Company DISOUCO, also appointing the Chairman and members of the Board of Suez Oil Company (SUCO) as Chairman of the Board and members...