Shell has sustained its investments in Egypt through the past period, and is currently in early stages of evaluating WDDM results for future exploration prospects, according to a company’s statement to Egypt Oil&Gas. Shell Egypt’s CEO, Aiden Murphy, said that results for the Burullus and Rosetta concessions were encouraging so far, but further evaluation is due in the upcoming period.
During the company’s fifth technology leadership conference held in Hughada in mid-November, Murphy added that Shell has set forth a future vision for deep-water concessions after recent discoveries in Egypt. He added that this will have a significant impact on the country’s oil and gas trajectory.
However, Shell’s investments in Burullus and Rosetta concessions had previously decreased to $159m running cost, which also resulted in a reduction in monthly outputs. Murphy explained that this decline came because “the company took measures to push natural decrease rates to the lowest levels.”