Edison remains firmly committed to Egypt, and is currently preparing important drilling campaigns for, as initially planned, two exploration wells in the Eastern Mediterranean, respectively in northeastern Hapi and Theqa concessions, which are 100% owned and operated by Edison.
In addition, Edison will drill another exploration well in 2019 in its Nile Delta’s south Idku onshore concession, also 100% owned and operated by Edison.
Furthermore, Edison intends to initiate $200m development projects in the same year in two off-shore concessions, with gas reserves in the Nile Delta, North Idku, and North El Amriya. The first gas reserve is to be completed by the first quarter of 2021, enjoying the synergy with its existing Abu Qir production facilities.
These developments come after the recent completed installation of a new platform with six wells on its 100% owned and operated Abu Qir concession for $320m, doubling the field’s gas output.