Cairo – Mubasher: Egypt’s Ministry of Petroleum is set to drill two new wells in the Atoll and Katameya gas fields located in the North Damietta Concession in the East Nile Delta with investments worth $280 million.
With the new well, output in Atoll field will be raised by about 100 million cubic feet of gas per day by the first quarter of 2020, according to a statement on Monday.
Currently, Atoll field has three wells producing about 300 million cubic feet of gas per day as well as 9,000 barrels of condensates per day, the financial results of Pharaonic Petroleum Company for fiscal year 2018/2019 showed.
Katameya field will start production with a capacity of 60 million cubic feet of gas per day by the second quarter of 2020, the statement added.
Daily production in Pharaonic Petroleum Company’s natural gas fields reached 525 million cubic feet of gas and 10,000 barrels of condensates in FY18/19.
