Germany’s Wintershall Dea has signed an agreement with Cheiron and Croatian oil and gas company INA to jointly explore the East Damanhour onshore exploration block in Egypt.
The deed of assignment agreed between the partners has been approved by the Egyptian Minister of Petroleum and Mineral Resources Tarek El Molla.
The German firm was awarded exploration licence for the East Damanhour block by the Egypt’s Petroleum Ministry in February 2020.
The East Damanhour block is located to the west of Wintershall Dea’s Disouq development in the onshore Nile Delta. Wintershall Dea serves as the operator of the Disouq leases with a 100% stake.
Wintershall Dea chief technology officer Hugo Dijkgraaf said: “We are pleased to have Cheiron and INA on board for an exploration programme that will see up to seven wells drilled at East Damanhour over the next years.
With the latest agreement, Wintershall Dea will serve as operator of the concession with a 40% stake while Cheiron and INA will own 40% and 20% interests, respectively.
Wintershall Dea Egypt senior vice-president and managing director Sameh Sabry said: “We know the area well, so we anticipate low geological risks. Furthermore, our existing infrastructure at Disouq means that we are well-placed to quickly develop any commercial discoveries.”
Wintershall plans to commence the exploration programme with the first three planned wells at the East Damanhour block this year.
