Egypt

MoP, Energean discuss plans to expand natural gas production in Egypt

Published on : 2021-12-15

Tarek El Molla, Minister of Petroleum and Mineral Resources, discussed on Tuesday with Matthews Rigas, Chairperson of Energean International, its plans to develop and increase natural gas production in its Mediterranean fields in Egypt during the coming period.

The meeting saw a review and follow-up of the ambitious plan of the company operating in the areas of Abu Qir, North Idku and North Amriya in the Mediterranean. The company aims to put the gas discoveries in North Idku and North Amriya on the production map by linking new wells with Abu Qir production facilities, adding about 150 million cubic feet per day of natural gas.

It also reviewed its work plan to start new exploratory activities in its areas of work aimed at focusing on the deeper layers in those areas.

The minister stressed the importance of the ministry’s continuous cooperation and coordination with international companies operating in Egypt to speed up the implementation of new projects in the field of increasing production and reserves of oil and gas resources.

He explained that the ministry is constantly working to implement supportive policies and procedures to motivate international companies to pump investments and implement ambitious plans in the field of developing discovered fields or expanding new research and exploration, with the aim of making new discoveries, especially in the deeper layers.

He stated that this represents new opportunities that require more advanced technologies and investments to make new discoveries. He stressed that the recent improvement and increase in international prices makes the time right to increase the injection of investments by international companies in the oil and gas industry.

Energean has great potential and seeks to pump new investments to maximize the utilization of gas resources from the Mediterranean region, which is a major center for its operations, according to the statement.

Rigas stressed that it pays great attention to investing in natural gas production in Egypt and cooperating with the Egyptian petroleum sector to speed up the implementation of its ambitious plan to implement new projects to develop gas fields in the Mediterranean in the regions of North Idku and North Amriya, during which integration will take place with the infrastructure in the Abu Qir production area. The company also focuses on implementing a plan for research and exploration in the deep layers using the latest technologies.

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