Arab Finance: Minister of Petroleum and Mineral Resources Karim Badawi held two meetings with executives from Shell and Petronas in Egypt to discuss intensifying exploration and development of natural gas production in the West Delta Deep Marine (WDDM) concession of the Mediterranean, according to a statement.
Operated by Shell in partnership with Petronas, the concession marks one of Egypt’s most vital gas production areas.
Badawi called for accelerating drilling, development, and exploration programs, in line with the first pillar of the ministry’s strategy to expand production and meet the local market's needs for natural gas.
He affirmed that the ministry is working to create an attractive investment climate and a balanced partnership that supports the injection of new capital and the expedited development of discoveries.
For their part, the leaders of both companies lauded the ministry’s measures to settle outstanding arrears to international oil companies (IOCs).
They asserted that these measures boosted the confidence of IOCs in the Egyptian investment climate and encouraged an accelerated expansion of new investments and increased exploration activities.
Furthermore, the meeting addressed preparations for implementing Phase 12A in the West Delta Deep Marine area, which aims to begin drilling new gas production wells next year, in addition to exploring promising exploration opportunities in the region.
The minister also reviewed Shell’s ongoing drilling program, which aims to bring the Mina West gas field online during the last quarter of 2026. This will support the ministry's plans to increase domestic natural gas production rates.
During his meeting with officials from Malaysia-based Petronas, Badawi explored opportunities for the company to expand its activities in Egypt as an investor and operator in new areas, given the promising opportunities in the Mediterranean Sea and Red Sea regions.
He also noted that the recently conducted seismic survey programs open new horizons for exploration and production activities.
