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ENAP Sipetrol Egypt’s $70M Investment for 2024 Drilling

During a meeting with Minister of Petroleum and Mineral Resources Tarek El-Molla, ENAP Sipetrol Egypt’s Chief Executive and Managing Director, Denisse Abudinén, disclosed plans to invest $70 million in 2024.

These investments will be directed to drilling four development wells and three exploratory ones in the Shahd, northeastern Shahd, and Al-Zahraa areas in the Western Desert, Abudinén explained.

She also referred to the firm’s execution of a sustainable energy initiative in the northern Ras Qattara region to reduce dependence on diesel and increase dependence on associated gases in generating electricity.

In addition, she declared the conclusion of the seismic exploration conducted in the West Amer block of the Eastern Desert, with an approximate expenditure of $11.5 million. This sets the stage for commencing drilling activities in the near future.

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