Marketing-Börse PLUS - Fachbeiträge zu Marketing und Digitalisierung
print logo

EGPC, Shell, Petronas Sign $222 Million Agreement for West Delta Development

This comes with a total investment of $222 million, and a commitment to drill three wells to produce natural gas and establish marine facilities.
29.07.24 | Source: Egypt Oil and Gas

Minister of Petroleum and Mineral Resources, Karim Badawi, Shell Egypt’s Vice President and Country Chair Dalia El Gabry, and Egyptian General Petroleum Corporation (EGPC) Chairman Alaa El Batal have signed an agreement between EGPC, Shell and Malaysia’s Petronas to pump additional investments into the West Delta deep offshore region to implement the tenth phase to increase production rates and reserves that can be extracted from natural gas.


This comes with a total investment of $222 million, and a commitment to drill three wells to produce natural gas and establish marine facilities to put those wells on the production map.


Work is currently underway to drill the three wells to put them on the production map at a rate ranging between 150 to 200 million cubic feet before the end of this year.


Before the signing, Badawi and El Gabry held a meeting during which they discussed the various projects implemented by Shell Egypt, as well as the company’s current and future plans and coordination to face the challenges.


Shell has a diversified investment portfolio in Egypt through which it has worked to increase the volume of its activities at an accelerated pace over the past two years as a major partner for the petroleum sector in developing oil and gas resources through exploration, drilling, and production work, in addition to the liquefied natural gas complex in the Idku area.


During the meeting, Badawi affirmed the commitment of the government and the petroleum sector to work intensively with Shell to make the partnership a success and to support ambitious businesses and plans to increase production rates of natural gas from the Mediterranean.


The minister pointed out that the government is aware of all the challenges and is working to overcome them with partners, emphasizing the importance of Shell as a major partner in the petroleum sector in Egypt and one of the most important players in the energy industry in Egypt.

FREE NEWSLETTER