Egypt's NOSPCO, PetroZenima to Invest to Raise Gas & Oil Output

published:08/02/2026 07:29 GMT

North Sinai Petroleum Company (NOSPCO) has said it will allocate US$89 million in investment for the upcoming fiscal year (FY), targeting the drilling of three new exploration wells. The plan aims to sustain and increase current production levels, which stand at approximately 60 million cubic feet per day (mmcf/d), as part of the company’s five-year production strategy. The announcement was made during the General Assembly meetings held to approve the amended and proposed budgets, chaired by...More