PRESSR: Shell invests in Mina West gas development in Egyptian Mediterranean Sea

Cairo, Egypt – BG International limited, an affiliate of Shell plc (Shell), has announced a final investment decision (FID) to develop the Mina West gas discovery in Egypt’s Mediterranean Sea. 

Shell (60%) will operate the field alongside partner, Kufpec (Egypt) Limited (KUFPEC) (40%), working in close collaboration with Egyptian Natural Gas Holding Company (EGAS).

Discovered in October 2023, the Mina West gas field will be developed as a subsea tie-back to the existing infrastructure of West Delta Deep Marine (WDDM), supporting the delivery of reliable energy to Egypt’s domestic gas market.

Dalia Elgabry, Vice President and Country Chair of Shell Egypt, said: “Investing in new production at Mina West expands our industry-leading integrated gas business and supports delivery of secure, reliable energy to Egypt’s domestic market in-line with our strategy to create more value with less emissions.”

• This targeted investment contributes towards growing Shell’s combined Integrated Gas and Upstream total production by 1% per year to 2030.
• The investment in Mina West is expected to generate an internal rate of return (IRR) in excess of the hurdle rate for Shell’s Integrated Gas business. 
• The accelerated maturation of Mina West is an example of the role Shell and partners continue to play in Egypt, with the development reinforcing Egypt’s vision to become a regional energy hub and reflects a commitment to energy cooperation and strategic investment across the region.

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