https://arab.news/bxtju
RIYADH: Energy firm Shell Egypt has made a significant gas discovery in the North East El-Amriya block of the Mediterranean Sea, following the completion of drilling for the first gas well in its three-well exploration initiative named Mina West.
The drilling operations took place in the offshore Nile Delta at a water depth of around 250 meters below sea level, revealing primary data suggesting the presence of a natural gas reservoir.
“This discovery is an important step forward for Shell Egypt, bolstering our growth aspirations and ongoing commitment as a key partner in Egypt’s energy landscape,” said Khaled Kacem, vice president and country chair of Shell Egypt, in a statement.
The company has hired independent contractor Stena Drilling to deploy a mobile offshore drilling unit.
This development comes after the Egyptian Minister of Petroleum and Mineral Resources Tarek El-Molla unveiled a $1.8 billion plan during the 8th Organization of the Petroleum Exporting Countries International Seminar in Vienna in July. The plan aims to drill 35 new gas wells across the Mediterranean Sea by 2025.
El-Molla further revealed that the project aims to drill 21 gas wells during the fiscal year 2023-2024 and another 14 in the following 12 months with the involvement of major international companies like Eni, Chevron, and ExxonMobil, as well as Shell and BP.
He also underscored the Egyptian petroleum sector’s efforts in exploring new oil and gas resources.
Egypt has found 284 new fields in the last five years, including 217 oil wells and 67 gas wells.
The minister highlighted that adding 1.32 billion barrels of oil to the nation’s reserves from these new fields had significantly increased production.
In July, Egypt signed an agreement to allocate a plot of land to the Norway-based Scatec to establish a $5 billion wind power plant in the Sohag region.
The project, which is anticipated to produce 5 gigawatts of electricity yearly, will catapult the nation to reach its 2030 target of having 42 percent of its energy coming from renewable sources.