Neptune Energy Egypt begins oil exploration operations in the concession area northwest of Al-Amal in the Gulf of Suez

Neptune Energy Egypt announced the commencement of drilling operations of the exploration well, Yacout, in its concession area northwest of Al-Amal in the southern Gulf of Suez. This well is the first exploration well that the company has drilled in Egypt.

Neptune Energy Egypt obtained the exploration concession in the northwest of Al-Amal area in February 2019, according to an agreement with the Egyptian General Petroleum Corporation, and obtained advanced 3D seismic survey data in 2020.

Alexandra Thomas, General Manager of Neptune Energy Egypt, said: “The drilling of the exploration well Yaqout is an important stage, and a milestone for Neptune Energy Egypt, and we are grateful for the support of the Egyptian Ministry of Petroleum and the Egyptian General Petroleum Corporation.” She added, “We spent several months taking all measures and preparations.” And working closely with all our partners, our focus and attention has focused on adopting safety techniques when starting the drilling of this strategically important exploration well.

She added that Neptune Energy, as an independent global exploration and production company operating in Europe, North Africa and Asia and the Pacific, by launching its operations in Egypt in coordination with Addis and using the ADM-8 drilling rig, at a depth of about 3,600 meters, opens up work in a promising oil market and works To develop its business and investments, to employ its expertise in it, and to be a partner in its successes in the field of petroleum.

The concession area in northwest Al-Amal Al-Bahri covers 365 square kilometers and is located about 42 kilometers southeast of Ras Gharib and 105 kilometers northwest of Hurghada.

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