Germany’s DEA Group plans to pump more investments in Gulf of Suez and Disouq regions in Egypt, its chief executive Maria Moraeus announced Wednesday.
2018 will witness DEA’s with merge Wintershall, creating one of Europe’s largest independent oil and gas producers, which in turn bolster its investments in Egypt, Moraeus said.
During a meeting with Minister of Petroleum Tarek el-Molla, Moraeus said that Egypt is now an attractive investment destination given by the latest gas production from new fields, such as Zohr giant field and North Alexandria concession.
In 2013, DEA started production from the Disouq gas development project in the onshore Nile Delta.
DEA is a partner in the West Nile Delta project, in which production from two out of a total of five fields commenced in March 2017, Taurus and Libra. West Nile Delta is one of the largest projects of the DEA company history and of significant importance for the country Egypt, in terms of secured supply of natural gas.
The meeting tackled DEA Group’s ongoing activities and projects in Egypt and its upcoming plan for the country.