Egypt

ENAP Sipetrol Egypt to invest $70mln in 2024 drilling plans

Published on : 2024-01-31

ENAP Sipetrol Egypt will pump investments worth $70 million during 2024, the company’s Chief Executive and Managing Director Denisse Abudinén revealed in a meeting with Minister of Petroleum and Mineral Resources Tarek El-Molla.

These investments will be directed to drilling four development wells and three exploratory ones in the Shahd, northeastern Shahd, and Al-Zahraa areas in the Western Desert, Abudinén explained.

She also referred to the firm's execution of a sustainable energy initiative in the northern Ras Qattara region to reduce dependence on diesel and increase dependence on associated gases in generating electricity.

Moreover, she announced the completion of the seismic search carried out in the Eastern Desert’s West Amer block at an estimated cost of $11.5 million, paving the way for starting drilling operations in the coming period.

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