3 March 2013

Egypt: $ 1.2 Billion Fresh Investment in Khaleda Oil Fields

Minister of Petroleum Osama Kamal said that the expansion in the new investments through foreign companies is not confined to the exploration and development of oil fields, but also to the use of modern technology and training Egyptian technical cadres.

For his part, Head of Khaleda Petroleum Company Osama al-Bakly said the current fiscal year plan aims at luring investments at a value of $ 1.2 billion, to be invested in the drilling of 121 wells, 64 of which for producing oil, 13 for producing gas, 18 for injecting water and 26 wildcat wells.

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