Egypt

Chevron to drill 1st exploration well in Egypt’s Red Sea in H1 2024

Published on : 2023-07-06

The US energy company Chevron is set to drill the first oil and natural gas exploration well in its concession area in the Red Sea in Egypt during the first half (H1) of 2024, Asharq Business reported on July 5th, citing unnamed government official.

The energy firm will pump $50 million into drilling this well.

In early 2023, Chevron finalized the first phase of seismic surveys, geological studies, and geophysical data for the region at a cost of more than $20 million.

In 2019, Chevron won Egypt’s first international bid round for oil and gas exploration in the Red Sea.

The total search area won by companies in the first global bid for oil and gas exploration in the Red Sea is about 10,000 square kilometers, with a minimum investment of $326 million.

Egypt Buys Immediate LNG Shipment, Eyes Monthly Imports

The Egyptian Natural Gas Holding Company (EGAS) has secured a new immediate liquefied natural gas (LNG) shipment

Egypt, Italy probe cooperation in petroleum, renewable energy fields

According to a statement on April 22nd

Shell Egypt and Partners Launch 11th Phase Development in Nile Delta Offshore Concession

Shell Egypt, along with partners EGAS, EGPC, and Petronas, have agreed to commence the 11th development phase in Egypt Nile Delta offshore West Delta Deep Marine (WDDM) concession in the Mediterranean Sea.