Shell Egypt NV has recently made a notable gas discovery in the North East El-Ammiya block, located in the Mediterranean Sea off the coast of Egypt. This discovery, achieved at a depth of around 820 feet in the offshore Nile Delta, is a promising development in the region’s gas exploration. However, further analysis is required to fully assess the discovery’s size and extraction potential. In a strategic collaboration, Shell and Kuwait Foreign Petroleum Exploration Company (KUFPEC) are jointly advancing this project. KUFPEC has acquired a 40% stake in the block, reinforcing its commitment to expanding its offshore portfolio in Egypt. In a related development, KUFPEC’s subsidiary announced an oil discovery in the Geisum and Tawila West Concession in the Gulf of Suez. This discovery, made through the GNN-11 exploration well, is significant as it marks the first time oil has been found in the Nubia formation in this area.
The well is already producing over 2,500 barrels of oil per day, substantially increasing the overall production of the asset. These discoveries by Shell Egypt and KUFPEC represent major advancements in Egypt’s offshore energy sector. They not only underscore the fruitful collaboration between international energy companies and the Egyptian government but also highlight the potential of the Mediterranean Sea and the Gulf of Suez as key areas for future energy exploration and development. This progress is pivotal for Egypt’s energy landscape, promising to enhance the country’s energy independence and economic growth.