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.