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Edison Is Committed to Explore East Mediterranean in 2019

Source: www.gulfoilandgas.com 12/20/2018, Location: Egypt

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Edison remains firmly committed to Egypt and is currently preparing important drilling campaigns for, as initially planned, 2 exploration wells in East Med, respectively in North Thekka and North East Hapy concessions, 100% owned and operated by Edison. In addition, Edison will drill in 2019 another exploration well in its Nile Delta South Idku onshore concession, 100% owned and operated.

Furthermore, Edison intends to initiate the same year a 200 million usd development in 2 off-shore concessions with proven gas reserves in the Nile Delta, North Idku and North El Amriya. The first gas is foreseen in Q1 2021 enjoying the synergy with its existing Abu Qir production facilities.

These development follow the recently completed installation of a new platform with 6 wells on its 100% owned and operated Abu Qir Concession for a total investment of 320 MUSD, doubling the gas output of the field.

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