Royal Dutch Shell to resume deep-water exploration off Egypt

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ALEXANDRIA, Egypt (Reuters) – Royal Dutch Shell said it will resume deep-water exploration for oil and gas off Egypt’s Mediterranean coast, Executive Vice President Sami Iskander told a news conference on Tuesday.

Egypt is looking to production from recently discovered fields to halt energy imports by 2019.

A petroleum ministry official said last month that new production at Shell’s West Nile Delta field 9B is expected to reach 350-400 million cubic feet per day by 2019. [nL8N1R11LS]

Separately, production from the first 3 wells in the field is set to begin in the 2018-2019 fiscal year.

The field is owned by Egypt’s General Petroleum Corporation (EGPC), Malaysia’s Petronas [PETRA.UL] and Shell.

Reporting by Ahmed Ismail, writing by Amina Ismail; editing by Jason Neely

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Godwin Okafor is a Financial Journalist, Internet Social Entrepreneur and Founder of Naija247news Media Limited. He has over 16 years experience in financial journalism. His experience cuts across traditional and digital media. He started his journalism career at Business Day, Nigeria and founded Naija247news Media in 2010. Godwin holds a Bachelors degree in Industrial Relations and Personnel Management from the Lagos State University, Ojo, Lagos. He is an alumni of Lagos Business School and a Fellow of the University of Pennsylvania (Wharton Seminar for Business Journalists). Over the years, he has won a number of journalism awards. Godwin is the chairman of Emmerich Resources Limited, the publisher of Naija247news.

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