Arab Finance: The first well in the North Cleopatra and North Marina fields is expected to be put into production during the current fiscal year (FY) 2024/2025, as per a statement from the Egyptian Ministry of Petroleum and Mineral Resources.
The announcement was made during a meeting between Minister of Petroleum Karim Badawi, CEO of Shell Wael Sawan, and Chairperson of Shell Egypt Dalia ElGabry.
The meeting focused on Shell’s active projects in Egypt, specifically in the Mediterranean, Red Sea, and Western Delta regions.
Key topics included the company’s plans for research and exploration and ongoing negotiations between Shell and the Egyptian Natural Gas Holding Company (EGAS) for a new exploration area in the Mediterranean.
The aim is to boost production rates and enhance cooperation, maximizing the value of Egypt’s natural resources and infrastructure.