Riyadh – Yasser Al-Jarjoura on Tuesday, July 23, 2024 04:35 PM – Since assuming the management of the nation, the President of Egypt Abdel Fattah Al-Sisi has been working to diversify the financial system of the nation To observe Egypt, which is taken into account the second largest. financial system in Africa by way of nominal gross home product, and stays forty second on the planet rating as of 2024, and in response to the diversification coverage of the Egyptian financial system, Egypt has moved to supply its pure sources, particularly pure fuel, and has achieved exceptional success in doing so, the latest of which was the invention of a giant fuel subject west of the Nile Delta, which raised the hopes and aspirations of the road, and certainly one of them requested about the potential for Egypt overcoming financial obstacles if the use and the perfect use of this massive space is made, which may make it richer than Saudi Arabia, which in response to him.
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Will Egypt develop into richer than Saudi Arabia? Cairo publicizes the invention of the world’s largest fuel subject, and actual wealth is knocking on the doorways of the Egyptians
The Raven fuel subject is among the fields west of the Nile Delta It’s a part of the Egyptian oil sector’s plan to develop pure fuel sources from this sector, in collaboration with the British oil firm BP, so as to add new manufacturing volumes together with 5 fields through which 25 Wells sit on high of enormous reserves, and the state counts on it to extend the quantity of the overall manufacturing of pure fuel.
In response to the particular power platform primarily based in Washington, a big drilling ship belonging to the British oil firm “BP” has began its mission in Egypt, within the space of the West Nile Delta offshore areas within the Mediterranean Sea. .
The platform defined that the ship “Valaris DS-12” began offshore drilling for 2 new improvement wells to supply pure fuel and condensates on the western website of the Raven fuel subject. That is to extend Egypt’s pure fuel manufacturing as rapidly as attainable, to fulfill the rising native demand, particularly within the electrical energy sector.
It ought to be famous that the drilling vessel “VALARIS DS-12” entered service in 2013, flying the flag of the Solomon Islands, and has a complete size of 780 ft (238 meters), and its width is about 137.8 ft (42.04 meters). .
The ship went to the Raven fuel subject, situated on the Mediterranean coast, on July 2, and is supplied with the newest applied sciences that make it attainable to work in waters with a depth of about 7,500 ft, and she will additionally function at a most depth of 12,000 ft.
Valaris DS12
Egypt goals so as to add new manufacturing volumes of pure fuel from the 2 wells (West Raven-4 and West Raven-5), that are being drilled inside the plan to develop the Raven subject. These volumes are estimated to be round 200 million cubic ft per day.
The work of the newest drillship is anticipated so as to add about 8,000 barrels per day of condensate within the third quarter of the 2024-2025 fiscal 12 months, in response to figures reviewed by the Particular Power Platform (primarily based in Washington).
The quantity of funding required to drill the 2 wells is roughly $200 million. The drilling vessel is anticipated to take part within the completion of two wells within the Giza and Fayoum areas of the Mediterranean Sea, with investments of roughly 120 million {dollars}, after drilling and completion of the 2 wells in Raven’s subject.
It ought to be famous that Egypt is – formally – self-sufficient in fuel, however the current decline in manufacturing, particularly from the Zohr subject, which is taken into account probably the most largest within the nation, and the Raven subject, has inspired the nation to purchase liquefied fuel from overseas to beat the manufacturing deficit disaster, in response to what was revealed by the “Offshore Power” web site.
The Raven subject is linked to a number of different initiatives, such because the connection challenge with the Western Desert Fuel Advanced, a big oil advanced that serves the wants of the native market and contains petrochemical complexes of pure fuel merchandise.
The British oil firm BP manages Egypt’s fuel subject, beneath the direct supervision of the Ministry of Petroleum. He owns about 83% of it, and the corporate “Sub C7” is answerable for development work within the subject, which is a part of the West Nile Delta offshore challenge.
In response to website knowledge; The manufacturing of the big fuel subject is about 600 million commonplace cubic ft per day, and the state’s efforts proceed to develop and enhance manufacturing to about 900 million commonplace cubic ft per day.
The British oil firm “BP” had determined to proceed its oil and fuel drilling and exploration actions in Egypt, after receiving a dedication from the Egyptian authorities to pay its charges of $1.6 billion registration, which is taken into account arrears to Cairo.
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2024-07-23 13:35:06
