On 28th July 2024, Eng. Karim Badawi, Minister of Petroleum and Mineral Resources, conducted bilateral meetings with CEOs of Shell Egypt and Cheiron Energy, in his series of meetings with IOCs operating in Egypt to follow up plans of injecting new investments to increase oil and gas production.
Eng. Karim Badawi received Eng. Dalia El Gabry, VP and Country Chair for Shell Egypt and discussed Shell various projects in Egypt and its current and future plans, as well as coordination to face challenges.
They reviewed the 10th & 11th phases of WDDM for natural gas development and production, and the importance of boosting work progress at the two projects, especially after signing the agreement to pump new investments in the 10th phase project. The mutual cooperation between the Petroleum Sector and Shell is important to expedite starting the development of Mina West and Khufu natural gas discoveries in the Mediterranean.
Minister of Petroleum during a meeting with the CEO of Shell Egypt -2
Minister of Petroleum during a meeting with the CEO of Shell Egypt -2
Minister of Petroleum during a meeting with the CEO of Shell Egypt -3
Agreement with Shell to pump extra investments to increase gas production in West Delta marine concession area
After the discussions, an agreement between EGPC, Shell, and Malaysia's Petronas was signed 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, 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.
Agreement with Cheiron to pump $ 120 million investments to increase oil production at Gulf of Suez
Eng. Karim Badawi, Minister of Petroleum and Mineral Resources, received a delegation of Cheiron Energy officials, asserting that Cheiron Energy is an important partner for Egypt in oil and gas production through its multiple investments in the Western and Eastern Deserts, the Gulf of Suez, and the Mediterranean Sea. And the Petroleum Sector is committed to boost partnership with the company to invest in more potentials to increase production.
Cheiron Energy officials confirmed that it has an intensive work program in its onshore and offshore concession areas and that it plans to increase the number of rigs in its operating areas to reach the common goal of increasing production and reserves, and it has aspirations to increase natural gas production from West Burullus marine developing field.
After discussions, the Minister, Cheiron officials and EGPC chairman signed a concession agreement for the Geisum and Tawila West region in the Gulf of Suez between EGPC, Cheiron and KUFPEC to pump new investments for boosting development operations, increasing production rates, and expanding research and exploration with total investment of about $120 million, and a commitment to drill nine wells, including three exploratory wells, to increase exploration work, which will contribute to increasing production from about 21,000 barrels of crude oil per day (bbl/d) to 26,000 bbl/d.
The Minister of Petroleum during a meeting with the CEO of Cheiron Energy -1
The Minister of Petroleum during a meeting with the CEO of Cheiron Energy -2
Minsiter of Petroleum during a meeting with the CEO of Cheiron Energy -3
