Egypt Kuwait Holding (EKH) Company announced that Tao field, in the offshore North Sinai, is expected to begin operating in June 2019, Egypt Oil & Gas reports.
The company forecasts that the full impact of the drilling campaign is to hit their income statement during H1 of 2020, EKH said in a statement.
EKH is further working on a development plan for the deep layers in its fields and is considering a post-valuation partial exit. The company is allocating proceeds for drilling an exploratory well.
Meanwhile, the company is advancing in a detailed production plan for the shallow layers in its fields, including the Kamose field. The plan includes drilling four new wells as well as installing one platform that is connected to the existing pipeline.