Latest news with #MediterraneanSea
Zawya
15 hours ago
- Business
- Zawya
Madbouly reviews Shell's activities, investment plans in Egypt
Arab Finance: Prime Minister Mostafa Madbouly met with Executive Vice President of LNG at Shell Cederic Cremers, and reviewed the company's activities and potential to expand investments in the Egyptian market, according to a statement. Madbouly emphasized the government's commitment to paying dues to foreign partners as part of its strategy to boost production and exploration rates in various concession areas owned by international oil companies (IOCs) operating in Egypt. On his part, Cremers pointed out that the Egyptian market ranks fifth in exploration for Shell, reflecting the importance of the company's exploration activities in the country to meet the state's natural gas needs. He lauded the joint efforts made by Shell Integrated Gas and the Egyptian government in the field of natural gas at the regional level. The company also plans to cooperate with the Gulf countries to boost investments in Egypt. Minister of Petroleum and Mineral Resources Karim Badawi called on Shell to scale its investments in Egypt and join forces in deploying modern technologies as per environmental and civil protection standards in the workplace. Meanwhile, Dalia Elgabry, Vice President and Country Chair of Shell Egypt, outlined the company's efforts and programs implemented in Egypt to support the local community. On July 23rd, BG International Limited, an affiliate of Shell plc, pumped investments to develop the Mina West gas discovery in Egypt's Mediterranean Sea. © 2025 All Rights Reserved Arab Finance For Information Technology Provided by SyndiGate Media Inc. (
Zawya
3 days ago
- Business
- Zawya
Egypt: President El-Sisi Reviews Progress of Transport, Industry, and Infrastructure Projects
Today, President Abdel Fattah El-Sisi met with Prime Minister Dr. Mostafa Madbouly, Deputy Prime Minister for Industrial Development and Minister of Transport and Industry Lieutenant General Kamel El-Wazir, and Presidential Advisor for Financial Affairs Lieutenant General Ahmed El-Shazly. The Spokesman for the Presidency, Ambassador Mohamed El-Shenawy, said President El-Sisi was briefed during the meeting on the implementation status of projects under the Ministry of Transport and Industry, particularly those related to the railway system. This included Al-Arish –Taba railway line and the completion of Bir El-Abd–Al-Arish railway line projects that are expected to contribute significantly to the development of the Sinai Peninsula and to the establishment of a logistical corridor linking the Red Sea to the Mediterranean Sea. The meeting also addressed updates on the development of seaports, given their pivotal role in the national development agenda. In this regard, the implementation progress of several key ports was reviewed, including Ras Sedr Port, Gargoub Port, Abu Qir Port, the Grand Port of Alexandria, the new El-Max Port, the continued development of Sokhna Port, the establishment of Taba Seaport, and ongoing development at Damietta Port. The meeting further covered the progress in constructing the fourth metro line in Cairo and the high-speed electric train project. Additionally, efforts to develop and enhance industrial zones in Wadi Al-Saririya and Al-Motahhara in Minya Governorate, and northern Fayoum in Fayoum Governorate, were discussed. These initiatives fall within the broader framework of promoting industrial development in Upper Egypt and creating more job opportunities for local residents, especially in labor-intensive industries such as textiles and ready-made garments. President El-Sisi emphasized the need to complete all projects according to their specified timelines. The President gave directives to continue efforts to accelerate the implementation of integrated developmental logistical corridors that link production areas to the developing seaports, transforming them into world-class, high-capacity hubs. This integration with Egypt's modern transportation network including roads, highways, and railways is vital for positioning Egypt as a global center for trade and logistics. Distributed by APO Group on behalf of Presidency of the Arab Republic of Egypt.
Zawya
7 days ago
- Business
- Zawya
Shell invests in Mina West gas discovery in Egypt's Mediterranean
Arab Finance: BG International Limited, an affiliate of Shell plc, has announced a final investment decision (FID) to develop the Mina West gas discovery in Egypt's Mediterranean Sea, according to a press release. The planned investment in Mina West contributes to increasing Shell's combined integrated gas and upstream total production by 1% annually to 2030. It is also expected to generate an internal rate of return (IRR) in excess of the hurdle rate for Shell's integrated gas business. In collaboration with the Egyptian Natural Gas Holding Company (EGAS), Shell (60%) will operate the field alongside Kufpec (Egypt) Limited (40%). Dalia Elgabry, Vice President and Country Chair of Shell Egypt, commented: 'Investing in new production at Mina West expands our industry-leading integrated gas business and supports delivery of secure, reliable energy to Egypt's domestic market in-line with our strategy to create more value with less emissions.' Discovered in October 2023, the Mina West gas field will be developed as a subsea tie-back to the existing infrastructure of West Delta Deep Marine (WDDM). It will support the delivery of reliable energy to Egypt's domestic gas market. The development of Mina West aligns with Egypt's vision to become a regional energy hub, reflecting a commitment to energy cooperation and strategic investment across the region. © 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (
Zawya
23-07-2025
- Business
- Zawya
Shell invests in Mina West gas development in Egyptian Mediterranean Sea
Cairo, Egypt – BG International limited, an affiliate of Shell plc (Shell), has announced a final investment decision (FID) to develop the Mina West gas discovery in Egypt's Mediterranean Sea. Shell (60%) will operate the field alongside partner, Kufpec (Egypt) Limited (KUFPEC) (40%), working in close collaboration with Egyptian Natural Gas Holding Company (EGAS). Discovered in October 2023, the Mina West gas field will be developed as a subsea tie-back to the existing infrastructure of West Delta Deep Marine (WDDM), supporting the delivery of reliable energy to Egypt's domestic gas market. Dalia Elgabry, Vice President and Country Chair of Shell Egypt, said: 'Investing in new production at Mina West expands our industry-leading integrated gas business and supports delivery of secure, reliable energy to Egypt's domestic market in-line with our strategy to create more value with less emissions.' This targeted investment contributes towards growing Shell's combined Integrated Gas and Upstream total production by 1% per year to 2030. The investment in Mina West is expected to generate an internal rate of return (IRR) in excess of the hurdle rate for Shell's Integrated Gas business. The accelerated maturation of Mina West is an example of the role Shell and partners continue to play in Egypt, with the development reinforcing Egypt's vision to become a regional energy hub and reflects a commitment to energy cooperation and strategic investment across the region.
Zawya
23-07-2025
- Business
- Zawya
KUFPEC announces final investment decision with Shell Egypt to develop gas exploration at Mina West field
CAIRO: A subsidiary of Kuwait Foreign Petroleum Exploration Company (KUFPEC) announced on Tuesday a final investment decision with Shell Egypt to develop gas exploration at Egypt's Mina West field, Kuwaiti state news agency reported. The field is located in the North East El-Amriya block in the Mediterranean Sea. (Reporting by Menna Alaa El-Din and Muhammed Al Gebaly; Editing by Chris Reese)
