Shell will start drilling new oil exploration wells in its new concession areas in Egypt’s Mediterranean in September, with investments of over $80 million for the first well, a government official told Asharq Business.
The official said that Shell has concluded the seismic survey for the concession areas, namely Northeast Amriya offshore concession in the Nile Delta as well as North Sidi Gaber and North Al Fanar Concessions.
This is part of Shell’s plans to be a key energy hub in the region amid the ongoing power cuts for the shortage of gas supply needed to operate power stations.
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