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16-10-19
BP, Eni's IEOC invest in Egyptian market
(MENAFN) Officials of several major oil and gas firms have revealed during the tenth Meditation Offshore Conference and Exhibition (MOC) on Tuesday their plans for investing in the Egyptian market.
Karim Alaa the head of BP said Total investments of British Petroleum (BP) in Egypt have exceeded USD35 billion, with plans to expand its operations into the North African nation.
Alaa added in a statement on Tuesday the company aims to develop Qattameya natural gas field, set to start production by mid-2020.
BP is currently working on developing five wells in West Delta to raise the area"s production to 1.3 billion cubic feet per day, representing 15 percent of Egypt"s total gas production, Alaa noted.
Eni's IEOC plans to drill 20 exploratory wells in Egypt during 2019 and 2020, the company"s chairman said.
The plan includes drilling eleven exploratory wells in 2019 and nine other wells in 2020, he added.
MENAFN1610201900450000ID1099133463
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