Minister of Petroleum Tarek el Mullah last Thursday conferred with Deputy Chief Executive Officer (CEO) of Shell International Petroleum Company Sami Iskander and Chairman of Shell Egypt Company Gasser Hantar on the work schedule of a Mediterranean project carried out by the international company in cooperation with Rashid Petroleum Company at district B9 of the Mediterranean Sea.
The meeting was held on the fringe of 9th edition of Mediterranean Offshore Conference & Exhibition (Moc 2018) held in Alexandria.
An agreement reached between Shell and Rashid stipulates the digging of 10 wells with investments worth more than $ 800 million. It is planned that the start of production in the first three wells will be in the coming fiscal year 2018/2019, according to a statement by the Petroluem Ministry.
Iskander, for his part, asserted Shell’s commitment to enhancing its investments in exploration and development of oil fields.
He also praised the positive cooperation with the Petroleum sector since Shell has started its businesses in Egypt almost a century ago.
Meanwhile, Mullah also met with CEO of the Global Company Edison For Oil and Gas Nicola Monti and General Manager of the company’s branch in Egypt Nicolas Katcharov.
The meeting tackled the development of work at the company’s concession areas in the Mediterranean Sea especially in the east northern areas in the deep water.
Seismological studies have revealed that there are good potentials for gas explorations in the areas adjacent to the offshore Zohr gas field.
