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 the Founder Naija247news Media Ltd He has over 16 experiences in journalism, which cuts across traditional and digital media. He started his journalism career in Business Day, Where he was a senior editorial graphic artist, before he left to start Naija247news, An Online Financial Newspaper in 2010. He has won series of awards and he is the chairman of Emmerich Resources Limited, the publisher of Naija247news.com and also sits on the board of Students In Business Awards, (SIBA).

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