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Energean commences new investment programme in Egypt


Published Mar 4, 2015
Energean's facilities - West Kom Ombo; Egypt
Energean's facilities - West Kom Ombo; Egypt

Energean Oil & Gas is launching a new 6-million-dollar investment programme in Egypt, aiming to locate A hydrocarbon field in the West Kom Ombo block, which covers an area of 20,948 km2.

The new programme has been approved by Egypt’s petroleum authorities and it is based on the interpretation of the data obtained from the previous drilling of two wells, the 2D surface seismic survey of a range of 1500 kilometers, as well as aeromagnetic surveys. The investment programme includes aeromagnetic data re-interpretation, the acquisition of 2D 400-kilometer seismic surveys and the drilling of two wells by June 2016.

Mr. Mathios Rigas, Chairman and CEO of Energean Oil & Gas stated: “The development of the hydrocarbon sector in the wider Mediterranean region as well as in Northern Africa seems very promising. Despite the sharp decrease in oil prices during the last ten months, Energean utilizes its scientific force and invests in hydrocarbon exploration aiming to emerge as a regional key player in oil & gas industry”.

Tags: ENERGEAN Oil & Gas




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