North Sinai Co. For Petroleum said that it’s preparing to implement the second phase of the new drilling plan in the middle of this year and to finalize it by the end of 2016.
Egypt Oil & Gas newspaper (EOG) learned that the company’s plan include drilling six new wells in its acquisition area in the Mediterranean.
EOG also learned that the volume of the investments of the six exploratory wells reached up to $ 200 million. North Sinai will be drilling two exploratory wells in Tao block, and the other four in Kamose and Wastany blocks.
North Sinai seeks to maintain the current production rate at 180 million cubic feet, applying the latest technologies in drilling operations, represented in the 3D seismic survey for the detected wells.