Oil & Gas

GUPCO targets $538 million investments in FY 2017-18

gupcoGUPCO – Gulf Of Suez Petroleum Co. said it targets investments of $538 million in the fiscal year 2017 – 2018.

Earlier, the company’s management approved the estimated budget for FY 2017 – 2018, said a press release.

GUPCO plans to produce 76,000 barrel per day in the new fiscal year.

The company’s production rate hit 81,000 barrel in FY 2016 – 2017, according to a press release.

(Source: Mubasher)


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