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Thursday, 18 July 2019

Egypt Kuwait Holding’s NSCO begins gas production from North Sinai well

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 mcf/d, the company said in a bourse filing (pdf). EKH completed the drilling of its first North Sinai gas well at a cost of USD 15 mn, and expects revenues to exceed EGP 500 mn 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 mn in 2018 in developing five natural gas wells in North Sinai, including one in Camus gas field and another in the Tao field.

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