Qarun Petroleum Co. - QPC

qarun petroleum company (qpc) was established on august, 13th 1995, as an operating company for egpc and the group consisting of phoenix resources company of qarun, apache oil egypt inc, and gnr seagull at qarun area of the western desert covered by the concession agreement. between the government of a.r.e. (represented by egpc) and the said group. effective may 1996, phoenix and apache merged in apache egypt inc. effective december 19th, 1996 apache egypt inc. assigned and transferred all its assets to apache qarun corporation i. d.c. effective march 1999, seagull and ocean energy merged into ocean energy. on november 19th, 1995, early production started using temporary facilities with an average production rate of 3500 bopd. on may th 1997, qpc succeeded, wihtin18 months, to complete the permanent facilities and put the field on production with an average production rate of 38,000 bopd. east ras budran was assigned to qarun on march 2008 where the exploratory well east ras budran a-1