Egypt’s Petroleum Minister Tarek El-Molla (Photo: Al-Ahram)
An oil well in the West Nile Delta has started production, the Ministry of Petroleum and Mineral Resources announced in a statement on Saturday.
The initial output of the well is estimated at 20 million cubic feet per day, the statement read.
The ministry noted that modern technology used in the digging operations saved eight working days and reduced the total cost by about $4 million.
The project, which is in its 9th phase, includes a total of eight wells and two exploration wells.
According to the Minister of Petroleum and Mineral Resources Tarek El-Molla, the third quarter of 2019 is expected to reach a total production rate of 400 million cubic feet of gas and 3,000 barrels of condensate per day with the completion of the remaining wells in the project.
El-Molla has previously stated that the project's total cost is almost EGP 14 billion ($780 million).