The agreement provides for a minimum exploration period of four years, which will include geophysical studies and the drilling of two wells.
Author: Ksenia Kochneva
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Novatek May Start Drilling in Egypt Earlier
Novatek could start prospective drilling in Egypt in late 2009 and not in 2010 as previously scheduled, the head of Russia's largest independent natural gas producer said on Thursday
"We said earlier that we had to start drilling in 2010. But if we receive seismic interpretation data soon enough, we could start drilling at the end of 2009. Anyway, drilling must be launched no later than early 2010," Leonid Mikhelson said on the sidelines of the World Economic Forum in Davos.
In September 2007, Novatek bought a 50% stake in a concession agreement for the exploration and development of the El-Arish offshore deposit in Egypt from Tharwa Petroleum S.A.E.
The agreement provides for a minimum exploration period of four years, which will include geophysical studies and the drilling of two wells.
Author: Ksenia Kochneva
The agreement provides for a minimum exploration period of four years, which will include geophysical studies and the drilling of two wells.
Author: Ksenia Kochneva
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