Cairo – Mubasher: Ganoub El Wadi Petroleum Holding Co. has set a plan to drill 16 exploratory wells during fiscal year 2019/2020 with investments worth $56 million, Ahram Gate reported on Thursday, citing the company’s chairman Mohamed Abdel Azim as saying.
During FY18/19, total production of subsidiaries and companies reporting to Ganoub El Wadi Petroleum Holding Co amounted to about 25,000 barrels of oil equivalent, Abdel Azim added.
In addition, eight exploratory wells and 20 development wells were drilled, while five wells were restored and 63 wells were repaired, he revealed.
