An official at the Egyptian Natural Gas Holding Company (EGAS) stated that Shell and Petronas began working on phase 9B of the Burullus gas field, reported Al Shorouk Newspaper. The 2 companies drilled 8 wells in West Delta deep water concession with investments estimated at $950m and a production capacity of 387mcf/d of gas.
Production from phase 9B was scheduled to commence in 2017, yet plans were rain-checked until an agreement with foreign partners is reached. Accordingly, EGAS held several meetings with foreign partners including BG, Petronas and Shell to establish a common ground among all parties involved.
Shell and Petronas started working in the 9B phase after amending produced gas prices to stand at a maximum of $5.88 per 1m thermal unit. The concerned areas are run by Rosetta Petroleum Company which is a joint venture between the Egyptian General Petroleum Corporation (EGPC), owning 50% of stakes, Shell, owning 25% of staked, and Petronas, owning 25% stakes.