Sherif Ismail, Minister of Petroleum and Mineral Resources received a report from Atef Hassan, head of Belayim Oil Company (Petrobel) about the company’s new strategy to maximize the country’s petroleum wealth, in its concession areas.
The report clarified that their strategy was based on the intensification of exploration in already producing fields through assessments and reviews of seismic data in these areas of existing production. The priority was given to fields that were easy to ensure the utilization of its production of oil and gas as soon as possible.
The report highlighted that the latest results of this strategy were amply represented by its work on behalf of EGPC and Italy’s Eni and the new commercial gas find made at Gharb Abu Madi in the onshore Nile Delta area. Petrobel is working diligently to connect the new find to the production map over the coming two months. The seismic survey data compiled revealed the existence of a previously unexploited formation containing gas, about 10 kilometers long and with expected yields reaching 15 bcm of gas reserves. A program is already in place to exploit this major find with 8-10 well planned to fully develop the region.
Source: Petroleum Ministry