(MENAFN– Famagusta Gazette) Egypt is planning to drill 35 new natural gas wells in the Mediterranean Sea and the Nile Delta in the next two fiscal years to boost its natural gas production, the Egyptian Cabsaid in a statement on Tuesday.
The country already drilled ten natural gas wells during the fiscal year 2022-2023, which ended on June 30, 2023, the statement quoted Egyptian Minister of Petroleum and Mineral Resources Tarek El-Molla as saying.
The offshore drillings have made a number of discoveries, including the finding of the Nargis-1 exploration well in the eastern Mediterranean, which holds about 2.5 trillion cubic feet of natural gas, it added.
El-Molla said Egypt plans to drill 35 new wells for the next two fiscal years, with an investment of more than 1.5 billion U.S. dollars.
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