Egypt plans to drill 220 exploration and production wells this year

Jul 25, 2000 02:00 AM

The Egyptian Oil Ministry plans to drill 220 exploration and production wells during the 2000-2001 fiscal year to explore for oil, natural gas and develop existing wells, Oil Minister Sameh Fahmi said. Exploration will take place in deep offshore waters in the Mediterranean, the western desert, Gulf of Suez, and the Nile Delta.
Fahmi said total expenditure by foreign companies in the new fiscal year starting July 2000 will reach $ 1.037 bn, of which $ 705 mm will be allocated for drilling new wells, $ 60 mm for repairs to wells and $ 272 mm for geological and geophysical operations.

Source: Bridge News via Newspage
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