Wed Aug 31, 2016 1:31pm EDT
Royal Dutch Shell announced on Wednesday new natural gas discoveries in a concession area of north Alam El-Shawish in Egypt’s western desert.
The initial quantities discovered were estimated at about half a trillion cubic feet of gas with more possible reserves, Eden Murphy, chairman and CEO of Shell said in a statement.
The discovery could produce from 10 to 15 percent of the total production of Badr el-Din Petroleum company, which is a joint venture acting on behalf of the state-owned Egyptian General Petroleum Corporation (EGPC) and Shell in production operations, Murphy added.
Shell owns the license of the entire area, which includes the well. Badr el-Din is expected to manage the operations.
(Reporting by Alaa Roushdy; Editing by Ruth Pitchford)
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