Gas and Oil
The electric logs of the well indicate the presence of petroleum shows in the Paleozoic formation, with a net pay thickness of 462 feet.
This endeavor aligns with the Ministry's strategy to attract new investments to Egypt by leveraging opportunities in gas and oil exploration.
EGPC prepares to settle part of the debt due by repaying between $500 million and $750 million to foreign oil and gas companies by the end of 2017.
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