The Egyptian Ministry of Petroleum stated in a statement today, Thursday, that the Gulf of Suez Oil Company plans to drill five wells in the North Safa and Al-Wasl fields to increase production to 15,000 barrels per day during the second half of next year. The ministry added that the total investment in the project amounts to approximately $226 million, as the company intends to increase oil reserves to over 100 million barrels.
Egyptian Company Plans to Drill 5 New Oil Wells
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