Wintershall Dea Brings on Board Partners in Egypt

Germany's Wintershall Dea has brought on board Egyptian firm Cheiron and Croatia's INA as partners at the onshore East Damanhour block in Egypt, the company said on March 9.

Wintershall Dea signed a concession agreement for the block with the Egyptian Natural Gas Co in February 2020. Under a new deed of assignment approved by Egypt's petroleum ministry, Cheiron will have a 40% interest in the contractor's share, while INA will have 20%. Wintershall Dea will remain operator with a 40% stake of the contractor's share.

"We are pleased to have Cheiron and INA on board for an exploration programme that will see up to seven wells drilled at East Damanhour over the next years," Wintershall Dea chief technology officer Hugo Dijkgraaf said. "For Wintershall Dea, this is the latest development in our long and successful 45-year history in Egypt, and we look forward to getting started."

Wintershall Dea has three exploration wells lined up for this year alone. Its new partners will contribute financing and technical expertise to the campaign. East Damanhour is situated west of Wintershall Dea's Disouq gas project in the Nile Delta, which was brought into production in 2013. 

"We know the area well, so we anticipate low geological risks," Wintershall Dea's managing director in Egypt, Sameh Sabry, commented. "Furthermore, our existing infrastructure at Disouq means that we are well placed to quickly develop any commercial discoveries."