Cairo – Mubasher: Ganoub El Wadi Petroleum Holding said Sunday that the general meeting approved budget estimates for the fiscal year 2017/18, according to a press release.
The company targets to produce 23,000 barrels per day and to pump $53 million investments in the field of search, exploration and development, the press release indicated.
Earlier, the cpmpany signed MoU with UAE -based Enmaa Al Ain for Development and Investment Co.
Under the agreement, Enmaa Al Ain will establish number of new projects, with value amounts to nearly $3.5 billion in the framework of developing Gulf of Suez region.
