What is happening in the Egyptian petroleum sector, and what is the story of the sea monster that is entering Egypt, and I wonder if the ship Stena Forth is coming to operate on the Egyptian coast, and what is the story of the huge oil discovery that is on the way.. Let us see what the story is in this video. Stay with us until the end.
Egypt is now racing against time to return to being a regional center in the energy, oil and gas sector, and at the same time it wants to compensate for the shortfall in production last summer and is causing many crises, the first of which is the load shedding crisis and then the depletion of the dollar to import huge shipments of gas. For this reason, the Egyptian government has proposed dozens of areas. To explore for oil and gas throughout the Republic, and at the same time, it began to encourage international companies in Egypt to increase production by paying these companies’ late dues due to the dollar crisis.
Ok, what is happening now regarding oil exploration and prospecting?
Minister Karim Badawi, Minister of Petroleum and Mineral Resources, previously said that there are 17 new exploration areas that have been offered to international companies, which are 8 obsolete fields in the Gulf of Suez and the Eastern Desert, 4 exploration areas in the Western Desert, and 5 exploration areas in the Gulf of Suez and the Western Desert within the General Authority’s bidding. For petroleum.
Badawi pointed out that the Ministry announced last August 61 investment opportunities, including 34 exploration areas affiliated with the Egyptian General Petroleum Corporation, 15 areas of obsolete fields affiliated with the Egyptian General Petroleum Corporation, and 12 exploration areas in the Mediterranean and the northern Delta affiliated with the Egyptian Natural Gas Holding Company. A number of companies have expressed interest in 6 of these regions so far
According to the Minister’s words, it is planned to sign 15 new agreements, during the end of the current year and the year 2025, with signature grants amounting to $20 million, with a minimum investment of $748.5 million, and a commitment to drill a minimum of 46 wells.
By the way, Egypt has achieved 54 oil and gas discoveries, adding huge reserves of hydrocarbons to the sector’s resources, with the government’s continued efforts to increase production, meet the growing demand, and provide quantities for export.
Ok, what is new and what is the story of the Stena Forth ship?
Look, sir, the offshore drilling company Stena Drilling announced that the drilling ship “Stena Forth” sailed to Egyptian waters on a special mission with the American company Chevron to drill and explore for oil and gas in the largely unexplored areas of the western Mediterranean off the coast of Egypt.
According to information, Chevron hired the “Stena Forth” drilling ship to drill the “Khanjar-1” well in the North Dabaa region, as the first exploration operation in the Egyptian western Mediterranean regions.
Drilling activities are scheduled to begin in late November, and based on tracking data, the “Stena Forth” drilling ship arrived at the North El-Dabaa square in the western Mediterranean region of Egypt to drill the “Khanjar-1” well, as the first well in the square. According to the information, the international company responded, expecting The discovery of large oil and gas fields in the region.
By the way, Stia Fort was a happy place for Egypt because
At the beginning of 2023, Stena Forth made a new gas discovery in the Narges offshore concession for Chevron and its partner Eni.
The Egyptian Minister of Petroleum previously met with officials from Chevron and ExxonMobil to agree to drill exploratory wells in the Western Mediterranean for the first time during the months of November and December after completing the regional seismic survey of an area of 2,185 square kilometers in the Western Mediterranean.
