With waning production and faced with severe decline at its key offshore West Nile Delta (WND) project German firm Wintershall Dea has been reducing its exposure to Egypt.
In December it farmed out 50% of its Disouq concession in the onshore Nile Delta to Croatian firm Ina. Production here has fallen precipitously to just 30mn cfd from 150mn cfd in 2015. This week Wintershall agreed the farm-out of 40% of its adjacent East Damanhour exploration block to local firm Cheiron and 20% to Ina, while retaining a 40% operator’s stake (see map, MEES, 12 March). (CONTINUED - 332 WORDS)
