Cairo – 23 September 2024: Cheiron Petroleum Company, an Egyptian energy firm, plans to produce 70 million cubic feet of natural gas per day in the Mediterranean’s West Burullus concession area by July 2025, according to a government source speaking to Asharq Bloomberg.
The company has already initiated drilling its first well in the region, part of a broader strategy to drill seven wells targeting natural gas and condensates.
By the end of 2025, the project aims to achieve a production capacity of approximately 150 million cubic feet per day.
Cheiron has also secured a commercial agreement with Shell to use the global energy company’s production facilities in West Burullus.
This collaboration is expected to lower Cheiron’s production costs while delivering significant financial returns to Shell.
In response to growing energy demands and a natural gas supply shortage, the Egyptian government is intensifying efforts to ensure adequate electricity supplies during peak summer months.
To address this, Egypt has purchased 50 shipments of liquefied natural gas since April and deferred additional shipments to early 2025.
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