North Sinai Petroleum Company (NOSPCO) concluded its installation operations and geological studies, according to the company’s schedule for the month of July 2010. NOSPCO is implementing its plan for installation and operations, expected to end in mid 2011. The company aims to locate the drilling areas and the number of exploratory and development wells.
Egypt Oil & Gas Newspaper learned that, as soon as the excavations process ends, the company will initiate a bid round to rent a new rig during the coming year of 2011 after completing the 3D seismic studies, which will resolve the number of new expletory wells in the field of City Blue in the company’s acquisition area in the Mediterranean Sea.
The whole operations serve Nospco main goal of boosting its production and reserves of natural gas from the Mediterranean.