Wintershall Dea Signs Concession Agreement for the East Damanhour Block
Wintershall Dea GmbH has signed a concession agreement for the East Damanhour exploration block located onshore in the Nile Delta. The company plans to drill several exploration wells in the block during the first 3-year exploration phase, starting in 2020. The block is located to the west of Wintershall Dea’s Disouq development, and its proximity to the existing Disouq infrastructure will ensure a quick and cost effective development of any discovered volumes. The concession agreement provides for the drilling of a total of 8 wells, with a total minimum investment of US$43 million. Wintershall Dea, through its predecessor Dea, has been present in Egypt since 1974, and currently produces gas at Disouq, oil and gas in the Gulf of Suez, and gas and condensate from the offshore West Nile Delta project operated by BP Plc.