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Oil & Gas

Khalda Petroleum plans to invest $810 million in FY 2017-18

Posted: January 12, 2017 at 8:11 pm   /   by   /   comments (0)

khaldaKhalda Petroleum Company said it plans to inject $810 million in investments in the fiscal year 2017 – 2018, said CEO, Mohamed Abdel Azim. “The company plans to drill 33 exploratory wells,” added Abdel Azim.

Earlier, the company said has reduced the cost of oil produced from the Apache concession area in the western desert to $4.5 per barrel in the first quarter of the current fiscal year, down from $5.

(Source: Mubasher)

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