Chief Executive Officer ENAP Sipetrol and General Manager ENAP Sipetrol Egypt branch Denisse Abudinén has stated that the company has completed a seismic survey in the West Amer concession area in the Eastern Desert with costs of up to $11.5 million to prepare for drilling operations in the coming period.

This came during her meeting with Minister of Petroleum and Mineral Resources Tarek El Molla where they discussed the activities of the company in its concession areas in Egypt and its plans for the next period, especially after acquiring the new concession area. 

Abudinén added that ENAP Sipetrol will pump new investments of up to $70 million during 2024 in East Ras Qattara to drill four development wells, in addition to another three explorations wells in Shahd, North East Shahd and Al Zahraa.

She noted that her company is implementing sustainable energy initiative at north Ras Qattara to reduce the use of diesel and increase the dependence on the accompanied gases for generating electricity.

The CEO also mentioned that ENAP Sipetrol will acquire more concession areas to expand its business, noting the company’s contribution to CSR activities at its operation sites. It provided training and workshops for the neighboring residents in addition to carrying out the restoration of schools and residential buildings, as well as providing medical equipment and supplies to hospitals.

During the meeting, El Molla affirmed that increasing the oil and gas production is the priority for the petroleum sector aiming to continue providing the needs of the local market and value added projects. He pointed out that Egypt has promising investment opportunities in the field of oil and gas as well as strong infrastructure.