Cairo - Mubasher: Egypt has signed a deep-water oil and gas exploration deal with Royal Dutch Shell and Malaysia’s Petronas.
The agreement is worth around $1 billion for eight wells in the West Nile Delta, Reuters reported.
The Egyptian government also signed a $10 million deal with Rockhopper, Kuwait Energy, and Canada’s Dover Corporation for exploration in the Western Desert.
Egypt’s natural gas production increased to 6.6 billion cubic feet per day, on the back of a surge in the output of the Zohr offshore mega gas field.
The production of the Mediterranean field rose to 2 billion cubic feet per day (bcfd, according to the ministry of petroleum.
Zohr’s production will rise gradually to 2.7 bcfd by late 2019, as per previous estimates, as the country aims at becoming a regional and global hub for liquified natural gas (LNG).
Egypt’s gas output stood at 5.1 bcfd in 2017, up from 4.4 bcfd in 2016.
