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FinancialNews
28-08-19
Oil, gas drilling by Egypt to expand
(MENAFN) Egypt was announced to be planning to achieve expansion in its oil petroleum and gas drilling within fields in Ras Shukeir, Gulf of Suez.
Under the plan, the Egyptian Ministry of Petroleum will be working to boost the efficiency of basic structure and output facilities in the area.
During the 2018-19 fiscal year, average production in Gulf of Suez Petroleum Company (GUPCO) fields stood at about 61.7 barrels of crude oil daily.
The country has also set a target to accomplish a hike in production from fields of Ras Shukeir, to reach about 73,000 barrels of oil per day.
MENAFN2808201900450000ID1098934974
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