Cheiron eyes drilling $160mln natural gas wells in Egypt in H1 2024

$Getty Images/\\tKanok Sulaiman$

Getty Images/ Kanok Sulaiman

It is planning to drill seven natural gas wells

Staff Writer, Arab Finance

October 18, 2023

PHOTO

Arab Finance: Cheiron Petroleum Corporation has invested around $160 million to explore and produce natural gas in the West El Burullus Concession, south-east the Mediterranean, two government officials told Asharq Business.

The firm is seeking to start production from the concession in the first half (H1) of 2024, with a production capacity of 150 million cubic feet of natural gas a day, an official said.

It is planning to drill seven natural gas wells and other natural condensates, the source added.

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