Melrose unaffected by political turmoil in Egypt

MELROSE Resources said it has seen no disruption to its production and drilling in Egypt despite the political upheaval in the country.

The Edinburgh-based oil and gas exploration, development and production company said staff in its Cairo office stayed at home for a four-day period during the public demonstrations that led to the ousting of President Hosni Mubarak earlier this month.

Melrose has no permanent expatriate management or staff in Egypt, consistent with its operating philosophy of employing and training local people.

The company, which has interests in Egypt, Bulgaria, Romania, the US, France and Turkey, reported oil production for 2010 rose 6% in 2010 to 41,100 barrels of oil equivalent per day as new fields were brought on stream in Egypt during 2009 and 2010. These included South Damas, which started producing in June 2010, and the Kaliakra and Kavarna fields in Bulgaria which came on stream in November 2010.
The company has 12 Egyptian fields in production.


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