OIL & GAS
EKH’s NSCO begins gas production from offshore North Sinai well
POSTED: JULY 18, 2019 AT 2:47 PM / BY ENERGY EGYPT / COMMENTS (0)TAGS: DRILLING, EGYPT, EGYPT KUWAIT HOLDING, EKH, KAMOSE, NATURAL GAS, NORTH SINAI, NSCO, OFFSHORE, PRODUCTION, TAO
Egypt Kuwait Holding’s (EKH) NSCO Investments Limited started production from its first North Sinai natural gas well on 13 July with a capacity of 25 mmcf/d, the company said in a stock exchange filing (pdf). EKH completed the drilling of its first North Sinai gas well at a cost of USD 15 million, and expects revenues to exceed EGP 500 million within two years. The company has also completed drilling its second well, which will begin production in 3Q2019. EKH had said it could invest USD 110 million in 2018 in developing five natural gas wells in North Sinai, including one in Kamose gas field and another in the Tao field.