1990. Kriti Oil & Gas acquires 100% of East Alamein Cocnession (Horus Field, Western Desert), in which it currently holds a 65% participating interest and is the operator.
2003. Vegas Oil & Gas starts its operations in the North West Gemsa Concession (Eastern Desert), in which it currently holds a 50% participating interest and is the operator.
2005. Vegas Oil & Gas was awarded the Alam EI Shawish West Concession in the Western Desert in which it presently holds a 35% participating interest. Currently both exploration and production are under way in Alam El Shawish.
2007. Vegas Oil & Gas was awarded East Ghazalat Concession in the Western Desert in which it presently holds a 50% participating interest and is the operator. Vegas Oil & Gas makes the deepest cretaceous gas discovery in Egypt in Al Karam (Alam El Shawish West Concession) at 16,500 ft.
2008. During the second half of 2008, Vegas Oil & Gas, made a significant discovery in Al Amir field (in North West Gemsa Concession). Al Amir SE-1st well tested 3,370 BOPD and 4.2 MMSCFD and Al Amir SE-2 well tested 5,812 BOPD and 7.9 MMSCFD. Al Amir-1 has also tested successfully 700 BOPD.
2010. First gas and condensate were produced in Alam El Shawish West. Vegas agreed to purchase 70% of West Obayed Concession.
2011. The acquisition of 70% of West Obayed is approved by the Egyptian Authorities and Vegas becomes the Operator.
2012. Vegas Oil & Gas was the successful bidder on Block 11 (East Lagia) from the 2011-2012 licensing round. The new concession is expected to be formally awarded to Vegas in 2013 following the ratification process by the People`s Assembly (Parliament). The block covers an area of 2,989 km2 in the Sinai Peninsula. Vegas will be the Operator of the concession with 100% working interest.
