Egypt’s Ministry of Petroleum and Mineral Resources announced that a new agreement lays the groundwork for implementing a revised system in the Cairo and Masry offshore blocks in the Mediterranean.
ExxonMobil acquired the rights to explore these two outer Nile Delta blocks in 2023.
This move aligns with the Ministry’s core strategy to draw foreign investment, boost natural gas output, and incentivize activity in untapped areas.
The agreement aims to fast-track the development and production strategy for both sites if drilling confirms commercial gas reserves.
A 3D seismic study covering roughly 11,000 square kilometers has been finalized, and experts are now analyzing the results to prepare for the drilling phase.
Earlier this year, ExxonMobil discovered gas offshore Egypt after drilling the Nefertari-1 well using the Valaris-owned DS-9 rig in the North Marakia Block.
Meanwhile, energy major Eni has also ramped up interest in Egypt’s Mediterranean waters, revealing plans to drill two more wells at the Zohr field next year.
source:www.offshore-energy.biz
African Energy Council