Egypt

El-Molla Discusses Future Ventures with Enap Sipetrol in Egypt

Published on : 2024-01-29

H.E Tarek El-Molla, Minister of Petroleum and Mineral Resources, met with Mrs. Denisse Abudinén, Chief Executive Officer of ENAP Sipetrol and General Manager of ENAP Sipetrol Egypt, the Chilean company, to discuss the company's activities in Egypt within its concessions in the Western Desert and its upcoming plans, particularly in light of its recent acquisition of a new concession area.

During the meeting, Minister El-Molla emphasized that the petroleum sector's top priority is to increase domestic production of gas and oil to sustain meeting local market demands and value-added projects. He highlighted Egypt's promising investment opportunities in the petroleum and gas fields, supported by a robust infrastructure ensuring flexibility in all petroleum activities within the framework of cooperation and integration with foreign partners.

On her part, Mrs. Abudinén confirmed the completion of seismic research operations conducted by the company in the West Amir area of the Western Desert, which the Chilean company recently acquired in preparation for commencing drilling operations in the near future. She indicated the company's intention to invest approximately $70 million in 2024 to drill four developmental wells and three exploratory wells in the Shahd, Northeast Shahd, and Zahraa areas. She also mentioned the implementation of a sustainable energy initiative in the North Ras Qattara area to reduce reliance on diesel and increase dependence on associated gases for electricity generation.

Furthermore, she reiterated the company's commitment to operating in Egypt and its intention to acquire more concession areas and expand its activities. She highlighted the company's social responsibility initiatives in its operational areas, including providing training programs and workshops for local residents, conducting renovation projects for schools and residential buildings, and supplying medical equipment and supplies to hospitals.

The meeting was attended by Engineer Sherif Hafez Allah, the Ministry's Undersecretary for Petroleum Affairs, and Dr. Sameer Rasslan, the Ministry's Undersecretary for Agreements and Exploration.

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