Hadi Bouchamaoui Sons International (HBS), has been awarded the North Ghazalat 1 development lease (DL), as a carve out of its North Ghazalat II PSC, located in the Abu Gharadig Basin. The award is effective from February 2018 and is understood to be on a 20-year term. The block is understood to have been awarded over the North Ghazalat 1-1X oil & gas discovery. The well, the first to be drilled on the North Ghazalat PSC, was spudded February-March 2017. It reached a TD of 1,858m in the Lower Cretaceous Kharita Formation, testing oil & gas from the Late Cretaceous. Operations were carried out using the Egyptian Drilling Company #53 rig. HBS signed the PSC for the licence in January 2015, following the EGPC 2013 International Bid Round. Equity in the DL is split between HBS (50%) and EGPC (50%, carried), with the South Dabaa Petroleum Company (Dapetco) expected to be the operator. 
Hadi Bouchamaoui Sons International (HBS), has been awarded the North Ghazalat 1 development lease (DL), as a carve out of its North Ghazalat II PSC, located in the Abu Gharadig Basin. 