MENA Hydrocarbons Inc. provide an operations update for Lagia oil field development in Egypt.
MENA announces that the joint venture company with the Egyptian Petroleum Company (EGPC), named PetroSinai, has been established to assume operations in Egypt for the Lagia oil field. MENA staff will continue to operate the Lagia oil field on behalf of PetroSinai until such time as arrangements for new premises and staffing for PetroSinai are completed which are expected during April, 2012.
Operations on the Lagia oil field development commenced March 16, 2012. Using Petroservices Drilling Overseas (PSDO) 750 HP rig Shams 1, the six well programme consists of working over two existing wells, the drilling of two development wells and drilling a further two appraisal wells.
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