Minister of Petroleum and Mineral Resources Tarek El Molla discussed with Energean CEO Mathios Rigas, the company’s plans to develop and increase natural gas production from its concession areas, especially in the Mediterranean region, according to a statement from the ministry.
During the meeting, they discussed the company’s ambitious plan to link gas discoveries in North Idku and North El Amriya to the existing production facilities in Abu Qir. This tie-back project will add approximately 150 million cubic feet per day (mmcf/d) of natural gas, the statement added.
El Molla stressed the importance of the continuous cooperation and coordination between the ministry and international companies to speed up the implementation of new projects, aimed at increasing Egypt’s oil reserves and production.
Energean is one of the foreign partners who invested in Egypt in the recent years after it acquired Edison’s assets worldwide, El Molla said. He added that the company has great potential and seeks to pump new investments to maximize the exploitation of gas resources from the Mediterranean region, which is a major center of its operations.
For his part, Rigas confirmed that Energean seeks to increase investments in natural gas development projects in the Mediterranean region. The company also focuses on implementing a plan for exploration and production activities in the deep layers using the latest technologies.