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First oil wildcat wells in Upper Egypt soon
Egypt, Economics, 4/1/2005
Two Canadian companies that operate in oil and natural gas exploration in Upper Egypt decided to dig the first two wildcat wells in Komombo and Al-Naqra.
Upper Egypt has witnessed only 12 wildcat wells in history compared to 200 wells dug in Egypt a year.
Minister of Petroleum Sameh Fahmi told a meeting of South Valley holding oil company's board that the government would activate its efforts to lure oil investment in Upper Egypt.
The Minister said that there was a 20-year long plan to fit 6 million Housing Units with natural gas, 300,000 units a year.
Previous Stories:
Nazif, Gasprom chairman probe bilateral cooperation in gas domain
(3/29/2005)
Fahmi: Oil sector seeks increasing investments to $20 billion
(3/15/2005)
Egyptian exports up by LE 10.7 B in 11 months
(3/14/2005)
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