Back to the complete issue
Wednesday, 1 June 2016

Shell, Apache agree to Apollonia pricing with EGPC

EGPC will pay Shell and Apache USD 4.6 per mmBtu for natural gas produced from the Apollonia field in the Western Desert. An EGPC source told Al Borsa the two companies have successfully completed the drilling of two horizontal wells on site at a cost of USD 3 mn each. Shell and Apache estimate that the site holds natural gas reserves of 700 bcf and have allocated USD 23 mn for the project through their respective JVs. The source added that surface facilities on site have been completed and that one well is expected to come onstream soon.

Enterprise is a daily publication of Enterprise Ventures LLC, an Egyptian limited liability company (commercial register 83594), and a subsidiary of Inktank Communications. Summaries are intended for guidance only and are provided on an as-is basis; kindly refer to the source article in its original language prior to undertaking any action. Neither Enterprise Ventures nor its staff assume any responsibility or liability for the accuracy of the information contained in this publication, whether in the form of summaries or analysis. © 2021 Enterprise Ventures LLC.