Terra Petroleum to drill in Egypt’s Western Desert

Terra Petroleum Ltd. will begin operations in the North West Maghara area of Egypt’s Western Desert, said Egypt’s Ministry of Petroleum and Mineral Resources in a Dec. 22 release.

The company signed a new oil and gas exploration agreement with Egyptian General Petroleum Corp. to drill three wells in the commitment area and conduct 2D and 3D seismic surveys. The initial investment is estimated at about $6.5 million.

This will be Terra Petroleum’s first entry into Egypt.