Can you tell us more about Vega Petroleum limited?
Vega, established in 2011, is a privately owned exploration and production company. Our founders, Mr. Juma Saif Rashid Bin Bakhit and Mr. Kamal Ataya, collectively bring more than 35 years of experience within the industry
Our philosophy revolves around the notion that successful energy exploration involves expertise, knowledge and experience, as well as the courage to relentlessly pursue one of the world’s most vital resources. This is Vega. Named for one of the brightest stars in the night sky, we illuminate the never-ending search for raw materials and resources. We are inspired by the element of possibility that energy provides to people everywhere. Going beyond the status quo, we grow through impact-based discoveries, committing our own energy to find the energy the world needs.
What is the vision and mission of Vega?
The energy industry is dynamic, and Vega continually strives to sustainably, efficiently and profitably meet increasing global energy needs. Vega brings experience, knowledge and technological expertise to the energy sector. We use these attributes, combined with a sophisticated network of contacts, to optimally utilize existing resources and explore for new resources.
Our vision is to achieve sustainable growth through innovative discovery and resource optimization. We seek to be recognized as the leading privately owned oil and gas company and provider of cleaner and more efficient energy. We strive to be at the forefront of regional exploration and development, while simultaneously achieving the investment goals of our valued shareholders. Our mission revolves around our commitment to continually utilize our energy to find new energy. Our brand icon, the continuum, is a reflection of our commitment to infinite and never-ending growth, innovation and development.
What is Vega’s strategy?
Across the energy chain, Vega utilizes experience and expertise to navigate project complexities and turn intention into implementation. Vega utilizes determination and perseverance to push the bounds of what is possible in an effort to continually strive for innovation and development through our varied activities.
As a privately owned company, our portfolio is comprised of 70 percent mature field assets with proven production, and 30 percent of high potential exploration. We achieve foundational sustainability through our producing assets and we achieve growth and bold development through high potential exploration strategies.
We will continually use our superior technical expertise to explore, extract and deliver energy that was once beyond reach.
What are your goals for the Ras El Ush Field?
Vega selectively chose the REU concession to be our initial footprint in the industry. We feel that the REU will showcase our expertise across the energy chain. Since October 31 2012, when we received the operatorship of the Gebel El Zeit onshore and offshore area in the Gulf of Suez, we have committed energy and optimism to the existing and future potential of this concession area.
Our primary goal is higher production actualized in a safe, sustainable and efficient manner. Vega will utilize an operationally integrated approach that adheres to the highest scientific and technical standards in an effort to efficiently increase production output of the Ras El Ush Field. Specifically, increased production will be achieved via the construction of a gas line to provide the required amount of gas for the artificial lift, along with work-over programs, and the application of pressure maintenance practices. We hope to achieve success in terms of exploration and drilling through this plan.
You are operational partners with PetroZeit in the concession. What are the benefits of this partnership, what strengths and experience does PetroZeit bring to the project?
PetroZeit is an established company with extensive infrastructure to accommodate production of 20,000 barrels of oil per day. Cooperatively, through knowledge transfer and exchange, we will utilize this infrastructure in order to increase productivity. Their involvement and technical expertise is critical to job execution, as well as increased innovation, growth and development of the concession.
In addition to our valued partnership with PetroZeit, I wish to extend sincere gratitude and appreciation to EGPC and Ganope for their support since we arrived in Egypt, through the deed assignment, and finally to the approval stage by the esteemed Minister of Petroleum Osama Kamal.
You have extensive experience in the service sector, how will this experience be an asset in your current position at Vega?
The service sector grants first hand experience in the field. My career with Schlumberger is the cornerstone of my technical field experience. The primary lesson I learned in my experience is: always do it right the first time. The experience provided strong foundational principles that have guided me through every step of my process.