Shell announces new natural gas discoveries in Egypt's Western Desert
[CAIRO] Royal Dutch Shell announced on Wednesday new natural gas discoveries in a concession area of north Alam El-Shawish in Egypt's western desert.
The initial quantities discovered were estimated at about half a trillion cubic feet of gas with more possible reserves, Aidan Murphy, country chairman and managing director, Shell Egypt, said in a statement.
The discovery could produce from 10 to 15 per cent of the total production of Badr el-Din Petroleum company, which is a joint venture acting on behalf of the state-owned Egyptian General Petroleum Corporation (EGPC) and Shell in production operations, Mr Murphy added.
Shell owns the license of the entire area, which includes the well. Badr el-Din is expected to manage the operations.
REUTERS
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Energy & Commodities
Oil jumps, equities fall as Iran blasts fan Middle East tensions
Gold set for fifth weekly gain as geopolitical risks buoy demand
Oil holds near 3-week low as US sanctions interrupt easing tensions
Seatrium unit ordered to pay US$108 million in arbitration over equipment supply contracts
BP reshapes its leadership team as some executives leave
BHP to decide on future of nickel business by August, trims met coal estimates