“We are pleased to expand our activities in Egypt in cooperation with our international partners working in distinct exploration basins in line with our 2040 strategy,” KUFPEC CEO Mohammed Al-Haimer said in a statement to Kuwait News Agency on Wednesday.
Al-Haimer explained that this new partnership in Sector 3 of the Nile Delta will enable KUFPEC to strengthen its marine assets and exploration activities in Egypt.
He pointed out that Kufbik is already present in this area, as it was granted the northern Cape Knais maritime sector in the Mediterranean Sea in 2020.
For his part, Chairman of the Board of Directors and Managing Director of Shell Egypt, Eng. Khaled Qassem said that this agreement will enhance the position of Shell and its marine exploration activities, noting that the proximity of this sector and other exploration sectors that the company owns in the region will help achieve its goals and support Egypt in meeting its energy supply needs.
It is noteworthy that Shell Egypt and its partners began drilling activities last August in the third and fourth sectors of the Nile Delta, located in the Mediterranean Sea. The exploratory project includes drilling three wells in a row.
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