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 1. You are here:  
 2. Home
 3. E&P
 4. Egypt signs agreements to increase oil & gas production


EGYPT SIGNS AGREEMENTS TO INCREASE OIL & GAS PRODUCTION

Details 29 July 2024

The agreements will boost production in the Mediterranean and Suez Gulf. (Image
source: Adobe Stock)

Exploration & Production


> Egypt’s Minister of Petroleum and Mineral Resources, Karim Badawi, has signed
> agreements to boost oil and gas production with Shell Egypt and Cheiron Energy
> to boost oil and gas production in the Mediterranean and Suez Gulf
> 
> The minister, 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 invest
> US$222mn in the 10th phase of gas production in the West Delta Deep offshore
> area to boost production. It will involve the drilling of three wells to
> produce natural gas and establish marine facilities to bring the wells into
> production.
> 
> Before the signing, Badawi and El Gabry held a meeting where the Minister
> stressed the government’s commitment to working with Shell, a key player in
> Egypt’s energy sector, to increase gas production in the Mediterranean, while
> El-Gabry confirmed Shell’s commitment to Egypt and its plans to invest in new
> exploration and production projects.
> 
> The minister also met with a delegation from Cheiron Energy and signed a
> US$120mn deal with the company and KUFPEC to boost oil production in the Suez
> Gulf. The agreement includes drilling nine wells in the Geisum and Tawila West
> area in the Suez Gulf, including three exploration wells. It is envisaged that
> the investment will increase oil and gas production in the Gulf of Suez from
> 21,000 bpd to 26,000 bpd.

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