Shell Finds Hydrocarbons in The Nile Delta
Shell Egypt has successfully drilled its first exploration well in the North East El-Amriya block in the Nile Delta.
British Shell bought all shares in the Block 3 project in the Nile Delta from the American ExxonMobil and has already started drilling: the well has been drilled to a depth of more than 200 meters. The company found a hydrocarbon deposit based on drilling results.
An estimate of the volume of recoverable reserves of the deposit has not yet been determined, therefore it is too early to talk about the profitability of the project.
Let us recall that in August the Egyptian authorities spoke about their intention to drill 45 oil and gas wells on the country’s Mediterranean shelf and in the Nile Delta over 3 years. This project will cost $1.9 billion.
Also, over the next three years, BP plans to invest another $3.5 billion in the search for methane on the Egyptian shelf.
Let us recall that since 2015, Egypt has been supplying itself with gas from the Mediterranean Zohr field. However, the country no longer has enough of it – Cairo exports some of the raw materials from Israel.
