Wintershall Signs Egyptian Concession

Wintershall Dea and Egypt's energy minister Tarek El Molla have signed the concession agreement for the East Damanhour block, the German producer said February 10. The block is west of Wintershall Dea’s Disouq gas development in the onshore Nile Delta. During a first exploration phase of three years, starting in 2020, Wintershall Dea is planning to drill several exploration wells.

Wintershall Dea is investing more than €500mn in the period 2018-2020, "aiming to significantly boost its gas and oil production in the country," it said last summer. "To achieve a significant ramp-up of production from the seven gas fields in Disouq, Wintershall Dea started an ambitious re-development program. It includes the completion and connection of nine existing wells to production, the drilling, completion and connection of new development and exploratory wells and the development of a new field in the north western part." 

CEO Mario Mehren said the company had "already realised a good part of the upside potential in our own-operated asset, Disouq."