Circle Oil aims to increase value for all stakeholders by developing, expanding and further consolidating its exploration and production asset portfolio.
Circle Oil’s strategy is to employ our technical and commercial strengths in developing our existing production and exploration assets and to identify new opportunities to underpin the Company’s evolution as a considerable oil and gas Company.
“Circle Oil continues to focus on maximising returns from its low cost onshore production operations.
Our gas production in Morocco is sold at fixed prices which are independent of oil price. In the first half of 2015 the average price realised for our gas was US$8.66/Mcf and our operating costs were only US$0.65/Mcf.
In Egypt the price realised for our oil production is related to the international crude oil price but in the first half of 2015 our operating costs were only US$4.34/bbl”