Edison plans to drill its first exploratory well in the eastern Mediterranean North Thekah offshore concession in 2019, Egypt Oil & Gas reports.
The company is further developing its 40-producing Abu Qir field, said Nicola Monti, executive vice president of Edison’s exploration and production (E&P) division.
Moreover, Royal Dutch Shell’s executive vice president, Sami Iskander, announced during a press conference that the company will continue deep-water oil and natural gas E&P off Egypt’s Mediterranean coast, according to Reuters.
Shell saw its Egyptian investments increase dramatically in 2016 after its acquisition of British Gas, transforming it into one of the largest oil and gas producers in Egypt.
Shell is moving forward with the 9B phase, the next stage of development of the West Nile Delta deep-water concession.
The company is further adding new quantities of natural gas by the end of 2018, which reflects Shell’s commitment to boosting its investments in Egypt.
The executive vice president’s comments came during the first day of the annual Mediterranean Offshore Conference and Exhibition (MOC 2018), which kicked off in Alexandria on April 17th.