Egypt’s Tharwa Petroleum says boosted exploration drilling by 50% in 2016

Egyptian oil and gas firm, Tharwa Petroleum says it boosted its investments in development and exploration drilling activities by more than 50 percent throughout 2016.

Sherif Sousa, chairman of Tharwa, stated that his company had drilled four new wells in Horus field, in the Alamein concession in Western Desert, resulting in increasing the company’s daily production from this area to 2,140 barrels of crude oil.

Tharwa’s daily production from Siwa concession had amounted to around 5,660 barrels of crude oil, Sousa added during announcing the company’s business results for 2016.