Shell to drill oil exploration wells in Egypt by September

Shell is set to start drilling new oil exploration wells in its new concession areas in Egypt’s Mediterranean sea starting in September, a government official said on Wednesday. The project has investments of more than $80 million for the first exploration well.

The official also said that Shell concluded the seismic survey for the concession areas which include Northeast Amriya offshore concession in the Nile Delta, North Sidi Gaber, and North Al Fanar Concessions.

The project is part of Shell’s plans to be a key energy hub in the region in light of the ongoing power cuts due to the shortage of gas supply which operates power stations.