(MENAFN) Seven deals for the exploration of gas were announced to be secured by Egyptian Natural Gas Holding Company (EGAS) during this year's fourth quarter with global firms.
Under the agreements, EGAS confirmed in a statement that 23 wells are set for drilling using USD712 million worth of investments.
This month, natural gas production of EGAS stood at 7.2 billions of cubic feet (bcf) to break a high record, as its chairman Osama Wafik El-Bakly affirmed.
El-Bakly added that the volume of gas explorations hit 15 during the 2018-19 fiscal year, with five conducted on the Mediterranean coast and ten in the Western Desert.
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