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Sunday, July 21, 2019
Kuwaiti Holding Company subsidiary, NSCO Investments, completed the development of the first well in a North Sinai offshore natural gas concession. The company drilled the first well in the Kamos area at a depth of 1,698 meters at a cost of around $15 million.
Production from the well began at a rate of 25 Mmcf/d, raising NSCO’s production capacity to 40 Mmcf/d.
The second well at Kamos, drilled at 2,664 meters, is expected to begin production during Q3 2019.
Seismic surveys previously indicated around 2.352 Tcf of natural gas and 112 million barrels of condensates in reserves in the concession
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