Edition:
United Kingdom

Egypt Kuwait Holding Updates On NSCO Investment's Concession In North Sinai Gas Field


Wednesday, 17 Jul 2019 

July 17 (Reuters) - EGYPT KUWAIT HOLDING CO ::UPDATES ON UNIT NSCO INVESTMENT LIMITED'S CONCESSION IN NORTH SINAI GAS FIELD.SAYS FIRST WELL DRILLING COMPLETED AT KS-2 WITH COST OF $15 MILLION.SAYS WELL AT KS-2 STRATED PRODUCTION ON JULY 13 WITH DAILY AVERAGE PRODUCTION OF 25 MILLION CUBIC FEET.SAYS PRODUCTION FROM WELL TO ACHIEVE REVENUE OF OVER EGP 500 MILLION OVER TWO YEARS PERIOD.SAYS DRILLING OF SECOND WELL AT KM-1 COMPLETED, PRODUCTION TO START IN Q3.