Badawi reviews Chevron’s operations, plans in Egypt
Updated 11/6/2024 2:23:00 AM
Arab Finance: Minister of Petroleum and Mineral Resources Karim Badawi has discussed Chevron’s progress in its concession areas in Egypt and its plans to increase production with the company’s President of Chevron International Exploration and Production, as per a statement.
The company’s progress is encouraged by the recently introduced incentives by the ministry for international petroleum companies operating in Egypt.
These incentives aim to draw new investments to speed up development and boost oil and gas production rates in Egypt.
The meeting also covered ongoing negotiations with the Egyptian Natural Gas Holding Company (EGAS) for Chevron to acquire two new concession areas.
Moreover, Badawi highlighted the investment opportunities available in exploration and field development through Egypt Upstream Gateway (EUG).
He also discussed the recently announced global bid round for natural gas exploration across 12 blocks in the Mediterranean and Nile Delta.
The two sides reviewed developments in the Nargis field and strategies to expedite production, in addition to drilling updates for an exploration well in the North Dabaa area in the Western Mediterranean.
Meanwhile, Neff presented an updated development plan for Cyprus’s Aphrodite field, aiming to start production as soon as possible.
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