INA was awarded an exploration licence for the East Bir El Nus concession (Block WD-8), located in Egypt’s Western Desert. This is a follow-up to INA’s activities on this key foreign market for the company in terms of oil and gas exploration and production.  

INA enters the new exploration licence as a 50% partner, while the remaining 50% is held by Energean, which will also be the operator. In the coming period, Energean and INA will finalise the licence agreement with the Egyptian Government and the Egyptian national oil company, and before it enters into force it will have to be confirmed by the Egyptian Parliament.

“Over the past year, INA has taken a significant step forward in the Egyptian market. Last year, together with our partners we secured the licence for Block 10, East Damanhur, and have already initiated exploration activities there. With our respectable and well-known partner, we are now entering the new concession, thus creating preconditions for new oil and gas production and replacement of our reserves. This is made possible by projects such as this one, as well as the intensive activities we have launched on our existing gas fields in the Adriatic and in mainland Croatia,” said Nikola Mišetić, Operating Director of Exploration & Production at INA.

In their bid, INA and Energean committed to conduct a 180km² 2D seismic survey and a 200km² 3D seismic survey, followed by at least two exploration wells.

INA has been present in Egypt for more than 30 years, mostly focusing on the Western Desert region, as an exclusive operator with a 100% share in the East Yidma concession, and as a partner in four concessions – East Damanhur, North Bahariya, Ras Qattara and West Abu Gharadig. In recent years, the company has increased its investments in the country, and INA’s daily petroleum production in Egypt in 2021 amounted to 1,737boe/d.

KeyFacts Energy: INA Egypt country profile