TransGlobe Allocates $24.1M Capital Budget for Egypt in 2019

TransGlobe Allocates $24.1M Capital Budget for Egypt in 2019

TransGlobe Corporation has announced it will allocate a $24.1 million capital budget for Egypt during 2019, Egypt Oil & Gas reports.

The company has set aside $7 million for drilling two exploration wells in the Egyptian Eastern Desert, in West Bakr 1 and NW Gharib, as well as an appraisal well at South Ghazalat.

Meanwhile, the company allocated the remaining $17.1 million for one development well in the NW Gharib 38A pool, three development wells in West Bakr, in addition to development and maintenance projects in the Eastern Desert, and 10 recompletions in West Bakr, facility and water handling expansion at West Bakr.

Sarah Samir 2536 Posts

Sarah has been writing in the oil and gas field for 8 years. She has a Bachelor Degree in English Literature. She has three years of experience in the banking sector.

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