AGIBA Petroleum Company (AGIBA) was founded in 1981as an Operating Company for the Egyptian General Petroleum Corporation (EGPC), IEOC, IFC and LUKAGIP. Over twenty five years AGIBA established its reputation as a Joint Venture Operating Company for exploring, drilling and producing hydrocarbons in Egypt. The Company started its permanent hydrocarbon production on October 1986.

 

As a reflection to the political and economical stability in Egypt, AGIBA since its inception is distinguished with its multiple shareholders through different agreements working in Egyptian onshore and offshore concession agreements. Currently the AGIBA shareholders are:

 

-         The Egyptian Petroleum Corporation (EGPC)

-         IEOC (Eni)

-         Ocean Energy (Devon)

-         Ina Naftaplin

-         IFC

-         LUKOIL

 

AGIBA operates as agent in the Concession Areas for the following Companies in accordance with the concession agreements between the Arab Republic of Egypt (A.R.E) Government represented by EGPC and  IEOC and its other partners:

 

-         Ashrafi Island Petroleum Company (Asheptco) founded on May  1990

-         Ras Qattara Petroleum Company (Ras Qattara) founded on May 1993

-         Raml Petroleum Company (Rampetco) founded on December 1996

-         West Ashrafi Petroleum Company (Ashrafi) on July 2004 

 

AGIBA cumulative hydrocarbon production reached 250 Million BBLS in July 2004. Current  production rate is over 50,000 BOPD from six main fields, five onshore located in the Western Desert and one offshore in the Gulf of Suez. The currently producing assets are:

 

-         Melehia Field

-         Faras Field

-         Raml Field

-         Zarif Field

-         Aghar Field

-         Ashrafi Field

 

At June 2006 about 790 national employees are working in the Company in addition to 13 Expatriates.

 

AGIBA witnessed environmental and Occupational Health  achievements as the Company has been awarded respectively ISO14001 certificate for the Environmental Management System (E.M.S) on July 20^th , 2000 and  OSHAS 18001  on September 2004 . Strong efforts have also been dedicated in the last years to the effective implementation of an HSE Intregrated Management System (IMS) in all the Company Activities.

 

Today AGIBA is proud to be mentioned   among  the most effective Operating Companies in Egypt.