CAIRO – 14 March 2021: Nine new agreements have been signed to search for natural gas, with a total investment of $ 981 million to drill 18 exploration wells, Head of the Egyptian Natural Gas Holding Company (EGAS), Magdy Galal, said Sunday. Galal added in a statement, Sunday, that two successful exploration wells have been drilled, and a three-dimensional seismic survey has been conducted in the areas of the Western Mediterranean agreements for an area of ​​18,000 km2. This came during Tarek El Molla, Minister of Petroleum and Mineral Resources, presiding over the work of the General Assembly of the Egyptian Natural Gas Holding Company (EGAS), via video conference, to approve the planning budget for the next fiscal year 2021-2022. It is planned to achieve natural gas production rates of 7.2 billion cubic feet. Gas per day and 100 thousand barrels of condensate, the statement added.

Source: Egypt Today March 14, 2021 15:44 UTC