Neptune Energy elects new MD for Egypt

Oil and gas company Neptune Energy has appointed Mohamed Mounes Shahat to take on the role of Egypt Managing Director, based in Cairo, starting December 2020.

Mounes joins Neptune from Egypt’s Ministry of Petroleum, having most recently held the position of Minister’s Advisor for Gas Affairs, Neptune Energy said on Tuesday.

With almost 40 years’ experience, Mounes has a strong technical and commercial background, having begun his career with the Gulf of Suez Petroleum Company in Egypt as a Petroleum Engineer.

He has held a number of senior leadership roles including Operations General Manager and Board member at Khalda Petroleum Company and was Chairman and Managing Director at Egyptian Natural Gas Holding Company, Qarun Petroleum Company, and Wastani Petroleum Company.

He was Deputy CEO for Production and a member of the Executive Board at Egyptian General Petroleum Corporation (EGPC).

He joined Egypt’s Ministry of Petroleum in 2016 as First Undersecretary of Gas Affairs, and later became Minister’s Advisor for Gas Affairs.

Gamal Kassem, Neptune’s current Egypt Managing Director, will continue with the company until the end of the year, supporting Mounes’ transition into the role.

Jim House, CEO of Neptune, said: “We are very pleased to welcome Mounes to the company at an important time for the business. He brings a wealth of experience to Neptune and deep knowledge of the industry in Egypt.

“He joins Neptune as we progress our plans for the North West El Amal block, following the seismic acquisition earlier this year. He will also build on our strong relationship with the Ministry of Petroleum and Egyptian General Petroleum Corporation as we progress work on our concessions”.

When it comes to Neptune Energy’s operations in Egypt, the company in early 2020 signed an operated exploration license with the Egyptian General Petroleum Corporation (EGPC) for Egypt’s North West El Amal offshore concession.

At the beginning of 2Q 2020, Neptune completed a 3D seismic survey over the area. The drilling of one exploration well is to be completed within the first phase, with two further wells planned in phase two.

The North West El Amal Offshore concession covers 365 km2 and is located in the central part of the Gulf of Suez.