{"id":597349,"date":"2019-07-24T04:18:48","date_gmt":"2019-07-24T04:18:48","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2019\/07\/24\/germanys-wintershall-dea-looking-to-invest-usd-800-mn-in-egypt-through-2020\/"},"modified":"2019-07-24T04:18:48","modified_gmt":"2019-07-24T04:18:48","slug":"germanys-wintershall-dea-looking-to-invest-usd-800-mn-in-egypt-through-2020","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2019\/07\/24\/germanys-wintershall-dea-looking-to-invest-usd-800-mn-in-egypt-through-2020\/","title":{"rendered":"Germany\u2019s Wintershall DEA looking to invest USD 800 mn in Egypt through 2020"},"content":{"rendered":"

<\/a> INVESTMENT WATCH- Germany\u2019s Wintershall DEA is looking to invest USD 800 mn in Egypt through 2020<\/b>, Oil Minister Tarek El Molla said on Monday<\/a> at a joint press conference with the company\u2019s Chairman and CEO Mario Mehren. Newly merged Wintershall DEA plans to increase production from its Desouk field to 100 mcf\/d by the end of the year, up from 60 mcf\/d currently, the ministry said in a separate statement<\/a>.<\/p>\n

The pipeline: <\/b>The company is expecting to begin oil and gas exploration at its recently awarded<\/a> northeastern Damanhur concession next year, Mehren said during the presser, according to Al Shorouk<\/a>. Wintershall DEA is also planning to take part in the upcoming west Mediterranean gas<\/a> exploration tender, which is expected to launch in 1Q2020. The Raven field at the North Alexandria concession, in which the company has a stake, is also slated to begin production at the end of the year. The field is expected to produce an amount four times that of its four neighboring fields, Mehren said.<\/p>\n

When Wintershall and DEA became Wintershall DEA: <\/b>Wintershall DEA completed the merger in May<\/a>, and consolidated its Egyptian assets, giving it six onshore and offshore concessions, with the most significant being its 17.5% stake in the West Nile Delta concession. The company had previously said<\/a> it would invest USD 500 mn through 2020 to develop the asset as well as its Desouk and Gulf of Suez fields.<\/p>\n","protected":false},"excerpt":{"rendered":"

INVESTMENT WATCH- Germany\u2019s Wintershall DEA is looking to invest USD 800 mn in Egypt through 2020, Oil Minister Tarek El Molla said on Monday at a joint press conference with the company\u2019s Chairman and CEO Mario Mehren. Newly merged Wintershall DEA plans to increase production from its Desouk field to 100 mcf\/d by the end […]<\/p>\n","protected":false},"author":1,"featured_media":597350,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[8572],"tags":[93,72,2380,821],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-597349","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-speed-round","tag-energy","tag-enterpriseam","tag-speed-round","tag-wintershall-dea","wpautop","entry"],"acf":{"mongo_id":"2d8e48e5-e6d0-44fb-bd75-db386785ba2f","is_powered_by":true,"section_story_id":"c004a9d9-3d72-4ed4-9dc5-bfdb28c0db15","story_type":"1","photo_url":"https:\/\/ent.news\/2019\/7\/2075.jpg","photo_position":"above","related_issue":[597342],"teaser":"","voice_url":""},"yoast_head":"\nGermany\u2019s Wintershall DEA looking to invest USD 800 mn in Egypt through 2020 - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2019\/07\/24\/germanys-wintershall-dea-looking-to-invest-usd-800-mn-in-egypt-through-2020\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Germany\u2019s Wintershall DEA looking to invest USD 800 mn in Egypt through 2020\" \/>\n<meta property=\"og:description\" content=\"INVESTMENT WATCH- Germany\u2019s Wintershall DEA is looking to invest USD 800 mn in Egypt through 2020, Oil Minister Tarek El Molla said on Monday at a joint press conference with the company\u2019s Chairman and CEO Mario Mehren. 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DEA owner LetterOne (the investment arm of Russian bn\u2019aire\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":596886,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/07\/10\/egypt-talks-investment-options-with-germanys-wintershall-dea\/","url_meta":{"origin":597349,"position":1},"title":"Egypt talks investment options with Germany\u2019s Wintershall DEA","author":"enterpriseam admin","date":"10 July 2019","format":false,"excerpt":"The Oil Ministry met with a delegation from Germany\u2019s Wintershall DEA yesterday to explore investment options, according to a ministry statement. The two sides also discussed an agreement they signed in March for DEA to extend its ownership of the Ras Budran and Zeit Bay oil fields in the Gulf\u2026","rel":"","context":"In "Energy"","block_context":{"text":"Energy","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/energy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":569024,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/02\/11\/egypt-signs-usd-43-mn-gas-exploration-agreement-with-wintershall-dea\/","url_meta":{"origin":597349,"position":2},"title":"Egypt signs USD 43 mn gas exploration agreement with Wintershall Dea","author":"enterpriseam admin","date":"11 February 2020","format":false,"excerpt":"Egypt signs USD 43 mn gas exploration agreement with Wintershall Dea: Oil Minister Tarek El Molla signed a USD 43 mn gas exploration and production agreement with Wintershall Dea to drill eight wells in East Damanhour concession area with a minimum investment of USD 43 mn and signing grants of\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2020\/2\/147.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":596228,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/08\/21\/wintershall-dea-to-begin-natgas-production-at-raven-field-next-month\/","url_meta":{"origin":597349,"position":3},"title":"Wintershall DEA to begin natgas production at Raven field next month","author":"enterpriseam admin","date":"21 August 2019","format":false,"excerpt":"Wintershall DEA will begin natural gas production from its Raven field in September, unnamed sources told Amwal Al Ghad. The field is expected to produce up to 900 mcf\/d of natural gas, and between 20k to 25k bbl\/d of condensates.","rel":"","context":"In "Energy"","block_context":{"text":"Energy","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/energy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":543528,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/02\/06\/wintershall-dea-exits-gulf-of-suez-oil-concession\/","url_meta":{"origin":597349,"position":4},"title":"Wintershall Dea exits Gulf of Suez oil concession","author":"enterpriseam admin","date":"6 February 2022","format":false,"excerpt":"Wintershall Dea is now an ex-oil producer in Egypt: Wintershall Dea divested its stake in its Gulf of Suez oil concession to the Egyptian General Petroleum Corporation (EGPC) on 1 January, it said in a statement Thursday. The German oil and gas company operated the concession as part of a\u2026","rel":"","context":"In "M&A WATCH"","block_context":{"text":"M&A WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/ma-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":577606,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/11\/29\/bp-gets-two-new-mediterranean-gas-blocks\/","url_meta":{"origin":597349,"position":5},"title":"BP gets two new Mediterranean gas blocks","author":"enterpriseam admin","date":"29 November 2022","format":false,"excerpt":"BP has been awarded gas exploration rights in two offshore blocks in the Mediterranean Sea, the company said in a statement (pdf). The oil and gas giant has now been awarded four blocks so far this year, along with a block extension, \u201cwhich offer the potential for gas discoveries that\u2026","rel":"","context":"In "Energy"","block_context":{"text":"Energy","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/energy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/11\/473.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/597349","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=597349"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/597349\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/597342"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/597350"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=597349"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=597349"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=597349"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=597349"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=597349"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}