Minister of Petroleum and Mineral Resources Tarek El Molla met with Dana Gas CEO Richard Hall and the accompanying delegation to review the available investment opportunities in the Egyptian oil and gas sector as well as the company’s working plans and programs in Egypt during the coming period.
This came in line with the ambitions of Dana Gas to expand its business in Egypt and pump additional investments especially in the field of oil and gas as well as exploration and production (E&P).
During the meeting, El Molla underscored the unwavering trust between the petroleum sector and its partners, emphasizing Egypt’s position as a beacon of promising opportunities in the oil and gas domain. He highlighted Egypt’s robust infrastructure, skilled workforce, and renowned expertise, coupled with its strategic geographic location, which has positioned it as a burgeoning regional natural gas hub.
For his part, Hall highlighted that his company will pump additional investments estimated at $43 million in the frame of its readiness to implement its drilling intensive campaign during 2024.
The campaign will include drilling 11 developmental wells and three exploratory wells aiming to increasing the production by 30 million cubic feet of natural gas per day (mmcf/d) and compensate the natural reduction for the wells, he explained emphasizing the commitment of Dana Gas to expand its business in Egypt.