Tarek El Molla, Minister of Petroleum and Mineral Resources, held extensive meetings with a number of heads of Arab and foreign companies operating in Egypt including: Emirati Dana Gas, BG Group, Petronas, and Engie (recently renamed from GDF Suez). The meetings were to review the work programs and discuss schedules for exploration and development in concession areas, reported Egypt Oil & Gas.
The meetings occurred while a delegation of the UAE’s Dana Gas Company was in Egypt. Their delegation was headed by Sheikh Sultan bin Jassim, Mark Fenton the Regional director of the company, CEO Patrick Allman-Ward, and Saif Rashid the Vice President. During the meeting company heads affirmed their commitment to further investments in Egypt, in addition to accelerating the completion of projects in recently discovered oil fields to increase the production currently online. The minister also noted that they discussed the current state of operations specifically for Dana Gas and reviewed the schedule for exploration and development, as well as progress made in the Ras Shuqayr gas derivatives project in the Gulf of Suez.
The project is meant to bolster the production of butane and other high value derivatives. The current state of plans for concession areas in the Mediterranean were also discussed. The Phase 9b plan in the West Delta deepwater concession was reviewed, with an investment of $1.4b and a capacity of 400 mcf/d of gas.
He added that Engie project to link production from its new field in the Mediterranean West Borollos area through the services provided by the Burullus Gas Company, was also discussed. The new field will have a production rate of 100 mcf/d.