The Egyptian Natural Gas Holding (EGAS) announced it seeks to up its production to 7.5 billion cubic feet daily and more than 100,000 barrels of condensate during the fiscal year 2020-2021.
The company plans for drilling 10 wells in the Nile Delta and the Mediterranean Sea at total investments of $328 million in addition to inking seven new agreements at about $690 investments and 16-million-dollar signature grants during the prospection period.
The company also plans to implement two new projects and finalize an ongoing project for digging a total of 42 wells whose initial production will stand at 537 million cubic meters daily.