Egypt completes seismic survey for 4,200 km in the Red Sea region: Ganope chairperson

Mohamed Samir
2 Min Read

A seismic vessel, which is currently conducting two-dimensional seismic surveys in the Red Sea region, has completed a survey of 4,200km of the total 10,000 km, said Mohamed El-Shimy, chairperson of the South Valley Egyptian Petroleum Holding Company (Ganope).

He adding that the company is currently gathering data for all onshore areas in southern Egypt, planned to be promoted to attract oil and gas exploration companies.

On the other hand, Tarek El-Molla, minister of petroleum and mineral wealth, participated in Ganope’s General Assembly on Wednesday, where the meeting aimed to approve the planning budget for the fiscal year (FY) 2018/19, according to a press statement issued by the ministry.

The sustainable development strategy Egypt 2030 placed Upper Egypt on top of its priorities; and the oil and gas sector would play an important role in the implementation of this strategy through the boosting petroleum activities to continue to provide for all governorates’ needs of petroleum products and natural gas, El-Molla said.

Moreover, he emphasised the importance of the speedy implementation of the geophysical data collection project in the Red Sea Egyptian economic waters, which comes simultaneously with the demarcation of Egypt’s border with Saudi Arabia.

“For the first time, Egypt will be able to offer exploration bidding in these areas (Red Sea region), which will redraw the investment map in Upper Egypt, and boost oil and gas reserves and production,” El-Molla added.

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Mohamed Samir Khedr is an economic and political journalist, analyst, and editor specializing in geopolitical conflicts in the Middle East, Africa, and the Eastern Mediterranean. For the past decade, he has covered Egypt's and the MENA region's financial, business, and geopolitical updates. Currently, he is the Executive Editor of the Daily News Egypt, where he leads a team of journalists in producing high-quality, in-depth reporting and analysis on the region's most pressing issues. His work has been featured in leading international publications. Samir is a highly respected expert on the Middle East and Africa, and his insights are regularly sought by policymakers, academics, and business leaders. He is a passionate advocate for independent journalism and a strong believer in the power of storytelling to inform and inspire. Twitter: https://twitter.com/Moh_S_Khedr LinkedIn: https://www.linkedin.com/in/mohamed-samir-khedr/