The oil and gas industry is one of the vital sectors of the Egyptian economy, as the Egyptian state is constantly seeking to increase its reserves of natural gas, which is witnessing an increase in demand for it as a transitional fuel in light of the global energy transition.

 

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EDITED BY| HUXIANA

 

Economic  section -  CJ journalist

 

Cairo - June,5,2023  

 

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In this context, the German company "wintersall Dia" announced a new discovery of natural gas within the dusuk concession in the Nile delta land area, as operations were concentrated in the new exploratory well (NSG-3) in the Abu Madi reservoir, and this discovery comes after the company's previous discovery in the exploration area in the east of Damanhour in January of 2023.

The Desouk gas project is operated by the company" desoko", a joint venture between" wintersal DIA " and the Egyptian gas holding company (Egas), where they use the infrastructure in Desouk located near the discovered well and connected to the National Natural Gas Network.

"The new reserves added will have a positive impact on the continuity of production at dusuk," emphasizes the general director of the joint venture "desoko", Olaf Reitz.

In turn, geological engineer Salah Hafez, former deputy chairman of the General Petroleum Authority, in statements with Egyptian media, pointed out that"this discovery represents a very great importance, as it increases the volume of Egyptian production of natural gas and contributes to the improvement of economies, especially in light of the urgent need for energy in Europe due to the current energy crisis as a result of the Russian-Ukrainian crisis.

Sameh Sabry, general manager of wintersall Dia Egypt, said that "the additional gas volumes will contribute to wintersall Dia's efforts to ensure a secure and sustainable energy future in Egypt".

In February 2023, Egypt's Minister of Petroleum and Mineral Resources, Tarek El Molla, announced a plan to drill more than 300 exploratory oil and gas wells in Egypt.

"The government has already started communicating with global partners to implement this plan, and a plan has been agreed that includes drilling and exploration until 2025, with the aim of putting those wells into production at a rapid pace,"Al-Mulla explained.

He pointed out that the energy sector in Egypt seeks to take advantage of the country's competitive advantages to face the energy crisis and achieve development.

 

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