Shell, PETRONAS to invest $575M in drilling development wells in Egypt

Updated 4/4/2024 12:33:00 PM
Shell, PETRONAS to invest $575M in drilling development wells in Egypt

Arab Finance: Global energy firms Shell and PETRONAS have earmarked $575 million for drilling six oil development wells at the 10th and 11th stages of the West Nile Delta (WND) project, Asharq Business reported, citing Chairman of Rashid Petroleum Company and Burullus Gas Company Mohamed Samir.

The WND project covers the development of natural gas and condensate fields in the North Alexandria and West Mediterranean Deepwater concessions in the Mediterranean Sea.

In addition, both firms target producing 300 million cubic feet of natural gas and 500 barrels of condensates a day, Samir noted.

Related News