Petroleum Minister Osama Kamal and CEO of Edison Oil Company Bruno Lescoeur recently discussed investment opportunities in the Egyptian oil and gas sector as a means of enlarging mutual partnerships in the coming period. Kamal stated “the meeting comes within the context of the government’s policy to support cooperation and partnerships with international companies investing in Egypt.” Lescoeur asserted his company’s willingness to increase investments in the Egyptian petroleum sector. Edison has been working in the field of oil and gas exploration since the mid-nineties with investments approaching two billion USD during the past four years.
Edison holds a one hundred percent participating interest in the Abu Qir concession in the area offshore of the Nile Delta, and a twenty percent participating interest in production licensing in the area offshore of Rosetta.
Total production from Abu Qir currently exceeds thirty-three kboed and Rosetta gas production currently exceeds four hundred mmscf/d. The concession area is entirely dedicated to the domestic market. Edison operates, with a sixty percent working interest, in the Western Desert of the West Wadi El Rayan licence that is currently undergoing long-term production tests. Edison also operates offshore the Nile Delta in the Sidi Abd El Rahaman area with a forty percent participating interest and exploration licensing.