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Rashpetco, Burullus Gas plan to invest $167m in FY19/20

Rashpetco, Burullus Gas plan to invest $167m in FY19/20
Drilling is underway at the Montu well with an initial cost of $99 million

Cairo – Mubasher: Rashid Petroleum (Rashpetco) and Burullus Gas Company plan to inject investments worth $167 million during fiscal year 2019/2020, chairman of the two companies Sabry El-Sharkawy said.

Drilling is underway at the Montu well with an initial cost of $99 million, El-Sharkawy added in a statement released by the Egyptian Ministry of Petroleum on Monday.

Three wells at West Delta Deep Marine (WDDM) concession - phase 9b are expected to be connected within the few next months, he revealed, expecting the three wells to have an initial output of 180 million cubic feet of gas per day. 

Studies of WDDM - phase 10 are currently being evaluated, with expectations to add about 236 billion cubic feet of gas through the drilling of seven wells.