A flurry of 2021 awards to a full house of majors for acreage in Egypt’s unexplored West Mediterranean region raised hopes of potential gas riches. Such a boost is needed more than ever with the country’s output having since fallen by 2bn cfd from its late 2021 peak (from 7.1bn cfd to 5.1bn cfd: MEES, 14 June).
But, whilst BP, Shell, ExxonMobil, Chevron and TotalEnergies were keen to snag the West Med acreage, their activity since has underwhelmed, consisting of seismic only (MEES, 1 December 2023). (CONTINUED - 879 WORDS)
