Arab Finance: Minister of Petroleum and Mineral Resources Karim Badawi visited the drilling operations site of the “Velox-1X” exploration well onboard the drillship Stena Ice MAX, according to a statement.
The well is being executed by Shell in the North Cleopatra concession within the Herodotus Basin in the Mediterranean, in partnership with Chevron, Qatar Energy, currently finalizing entry procedures as a partner, and Tharwa Petroleum.
Drilling operations are expected to reach a depth of 6,000 meters, making Velox-1X the deepest offshore exploration well ever drilled in the region. The project highlights the use of advanced drilling technologies in Egypt's offshore exploration activities.
Badawi said that the Velox-1X well is situated in a frontier area where no previous exploratory drilling has been conducted. It will provide valuable geological data that could unlock new exploration and development opportunities, enhance the attractiveness of the Herodotus Basin to international energy companies, and increase the likelihood of new gas discoveries that would strengthen Egypt's reserves and production capacity.
The minister lauded Shell’s commitment to executing its ambitious drilling program in Egypt throughout 2026, noting that Velox-1X is the fourth well in the program launched last February.
He also highlighted the successful collaboration between Shell, the Ministry of Petroleum and Mineral Resources, and the Egyptian Natural Gas Holding Company (EGAS) in implementing an integrated operating model that reduced drilling costs by adopting international best practices and optimizing operational efficiency.
During the tour, the minister reviewed the results of Shell’s drilling program, including the completion of West Mina-1 and West Mina-2 wells as part of the Mina West field development project in the Northeast El-Amriya block.
The project, developed jointly by Shell and its partner, Kuwait Foreign Petroleum Exploration Company (KUFPEC), is scheduled to begin production by the end of 2026.
The program also included the successful drilling of the Sirius exploration well in the same area, supporting efforts to boost natural gas production and accelerate exploration rates.
