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Deal to Drill 50 Wells

Deal to Drill 50 Wells

Minister of Petroleum and Mineral Resources Karim Badawi witnessed the signing of an agreement between the Egyptian General Petroleum Corporation and Halliburton to develop a program to drill 50 wells in the General Petroleum Company’s areas over 18 months. The program will use horizontal drilling and multistage hydraulic fracturing to tap new resources and increase domestic oil and gas production. It follows the company’s success in producing gas from a well in the Western Desert using hydraulic fracturing, at a rate of nearly 3 million cubic feet per day.

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