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Oil & Gas

Merlon allocates $54 million investment in El Fayum concession in FY 2017-18

Posted: January 5, 2017 at 8:02 pm   /   by   /   comments (0)

merlonOil and Gas producer Merlon International is allocating USD 54 mn towards its development and production operations in its El Fayum concession in FY2017-18, Al Mal reported.

Merlon’s JV PetroSilah will end FY2016-17 having invested around USD 64 mn, below the budgeted amount of USD 88 mn, sources at EGPC said. Currently, all of Merlon’s oil and gas assets are located within El Fayum concession in the Western Desert.

(Source: Enterprise.press)

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