USD 58 M New Investments For Petrol And Gas Research In Upper Egypt

Engineer Sherif Ismail minister of petroleum and Mineral Resources has announced that the development of upper Egypt is a main priority of the Egyptian government in general and his ministry in particular.

During his visit to Kom Ombo, the chairman of Ganoub el wadi petroleum holding company (GANOPE) Eng. Mostafa Safwat announced that the company will invest USD 58 m in the current fiscal year in the research and exploration of the south valley area and the production of 31,500 barrels from the company’s fields.

Source: Egynews & Arab Finance