TransGlobe Energy merges its three existing concessions to increase operation effeciency

EGYPT – TransGlobe Energy Corporation, oil exploration and production company, has announced it has reached an agreement with the Egyptian General Petroleum Corporation, EGPC, to merge the Company’s three existing Eastern Desert concessions (the West Gharib, West Bakr and North West Gharib concessions) into a new modernized concession agreement. The Agreement is subject to the usual Egyptian Parliamentary ratification and the satisfaction of other closing conditions. All dollar values are expressed in US dollars unless otherwise stated. The West Gharib, West Bakr, and North West Gharib concessions, including all existing…

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