Egypt is set to implement its largest gasoline drilling program within the Mediterranean in 2026. The Minister of Petroleum and Mineral Assets Karim Badawi introduced throughout his go to to Shell’s new offshore operations within the West Meina space, positioned in North East Amriya off Egypt’s northern coast, on Tuesday, 17 February.
Minister Badawi then inspected the STENA ICEMAX drillship, the place drilling of the primary manufacturing properly is about to start and is projected to start preliminary manufacturing by the top of 2026, with an anticipated output of roughly 160 million cubic toes of gasoline per day and 1,900 barrels of condensate.
Moreover, Badawi emphasised that this initiative displays the ministry’s efficient incentive insurance policies designed to encourage funding and bolster manufacturing capabilities, thus lowering Egypt’s reliance on gasoline imports and securing native gasoline provides.
Dalia El Gabry, Chair of Shell Egypt, highlighted that this new section of their Mediterranean drilling technique goals to speed up the event of the West Meina area whereas additionally pursuing exploratory drilling for added sources.
She famous that the elevated overseas funding in Egypt’s petroleum sector signifies a rising confidence within the authorities’s trendy methods and improved funding local weather.
Badawi additionally famous that current coverage changes by the ministry emphasize credibility and mutual profit to draw worldwide funding.
The focus is on three core aims: growing manufacturing capability, lowering import dependency, and making certain home provide reliability. This strategic framework has drawn sustained curiosity from main worldwide oil corporations (IOCs), together with Shell, Eni, BP, and Chevron, all of which keep lively operations throughout Egyptian offshore blocks.
Elevate your perspective with NextTech Information, the place innovation meets perception.
Uncover the most recent breakthroughs, get unique updates, and join with a worldwide community of future-focused thinkers.
Unlock tomorrow’s developments right now: learn extra, subscribe to our publication, and develop into a part of the NextTech group at NextTech-news.com
