The first experimental offshore well has been drilled as deep as 1,500 meters north of Damietta in the Mediterranean as research indicated oil and gas reserves in this area, according to a report Petroleum Minister Eng. Abdullah Ghorab received from Eng. Mohamed Shoaib, the Head of the Gas Holding Company on means to promote oil and gas finds.
The British Petroleum and Petronas companies are drilling in deep areas with investments of the two companies reaching USD 350 million in drilling.
The Minister said operating in very difficult areas aims at striking high oil and gas finds according to consulting houses.
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