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EGAS sealed $51 million (EGP 802.30 million) worth of signature bonus deals in FY 2019/2020, Galal added.
The company’s production has reached 7.2 billion cubic feet of gas per day, the official noted.
In line with the existing 37 agreements, EGAS is in the final steps of officially signing $731 million (EGP 11.49 billion) more investment deals, the chairman said.
He added that the gas firm will also seal $14 million (EGP 220.22 million) worth of signature bonus contracts.
Galal said the company drilled 12 exploratory wells in the Mediterranean Sea and the Nile Delta during FY 2019/2020.
He further said EGAS carried out developments at a total value of $1.1 billion (EGP 17.30 billion) in FY 2019/2020.
*At press time, the conversion rate is $1 = EGP 15.73
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