Edison announced its commitment to Egypt and its East Mediterranean concessions as it will pursue and fulfill its exploration campaign in 2019, the company said in a press release.
The statement denies rumors that the Italian firm would be quitting exploration in two Mediterranean concessions.
The company is currently preparing for important drilling campaigns for two exploration wells in North Thekka and North East Hapy concessions in the East Mediterranean, which are 100% owned and operated by Edison.
Onshore, Edison intends to drill an exploration well in its fully-owned and operated Nile Delta South Idku concession.
The company also plans to start a $200 million development project for its two offshore concessions in the Nile Delta, North Idku and North El Amriya, which have proven gas. First gas is expected by Q1 2021 as the fields synergize with the Abu Qir production facility.
Meanwhile, Edison has completed installing a new $320 million platform with six wells, located in its 100% owned and operated Abu Qir concession, which doubles the natural gas production in the field.