Cheiron Petroleum Corporation has invested around $160 million to explore and produce natural gas in the West El Burullus Concession, south-east the Mediterranean, two government officials told Asharq Business.

The firm is seeking to start production from the concession in the first half (H1) of 2024, with a production capacity of 150 million cubic feet of natural gas a day, an official said.

It is planning to drill seven natural gas wells and other natural condensates, the source added.