Session 1: Exploration and Agreements
The majority of oil fields in Egypt are in production for a long time. The production profile has steadily declined. Most of the oil production are gained from reservoir rocks with excellent quality. Near field exploration with new idea is one way to increase the production, the other way is to develop the marginal quality reservoirs within the brown fields. In addition to the enhanced oil recovery which can increase the production of oil at relatively reasonable costs.
To increase investment in mature oil fields, the exploration and development agreement terms and conditions should be reviewed to meet the investment and commercial criteria to create a successful business opportunity and attract new investors to brown fields business in Egypt.