Arab Finance: El Wastani Petroleum Company (WASCO) has completed drilling the North El-Basant-1 exploratory well in the Delta, adding an estimated 15 to 25 billion cubic feet of natural gas reserves based on initial tests, as per a statement by the Ministry of Petroleum and Mineral Resources.

The ministry notes that procedures are underway to bring the well into production at a daily rate of about 10 million cubic feet of gas.

The move is part of the ministry's continuous efforts to narrow the gap between production and consumption by encouraging investment partners to expand exploratory activity.

The drilling falls under an investment program led by the UAE's Dana Gas, in coordination with the Egyptian Natural Gas Holding Company (EGAS), in its Delta concession areas through WASCO.

The program includes drilling 11 new wells to uncover more natural gas resources in the coming period.

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