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Badr Petroleum Company targets 31 explorations for oil through 2019 - Daily News Egypt

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Badr Petroleum Company targets 31 explorations for oil through 2019

Foreign partners continued injection of investments reflects confidence in Egyptian market


Alaa Al-Batal, chairperson of Badr Petroleum Company, said that the planned budget for this fiscal year (FY) 2018/2019 includes a development programme to maximise petroleum production and reserves from the company’s fields.

He added that the company’s new gas discovery in North Alam El-Shawish area in the Western Desert started production three months before its scheduled date with a production rate of 30m cubic feet per day, increasing the company’s total gas production to 448m cubic feet per day.

Al-Batal pointed out that the production indicators in the first half of FY 2017/2018 showed that the daily oil production from Badr’s fields in the Western Desert reached about 123,000 barrels. In addition, the company made two new discoveries in the aforementioned period with oil reserves amounting to 8m barrels.

 

He added that the company plans to increase its production rates in the next six months through increasing the number of drilling rigs and intensifying maintenance operations of existing wells, as well as increasing the production capacity of some wells in the Niag fields in the Western Desert.

Al-Batal affirmed his company’s adherence to apply the highest health and safety measures as well as performance excellence, noting that one of Badr’s drilling operations was named by Shell as the best drill in the world.

The statements came during a meeting, chaired by Minister of Petroleum Tarek Al-Mulla, to discuss and approve the planning investment budgets of Badr Petroleum Company for FY 2018/2019.

Al-Mulla affirmed that foreign partners’ continuation toing injection of investments and increased oil and gas production projects reflects their confidence in the ministry’s measures to improve the investment climate. He pointed out that the fruitful cooperation with Shell has contributed to the increase of gas and oil productivity rates from the deep-water production areas in the Mediterranean Sea and the Western Desert.

He asserted that the ministry offers all support to these companies to turn their plans into reality which positively reflected on the production rates.

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https://dailynewsegypt.com/2018/01/14/badr-petroleum-company-targets-31-explorations-oil-2019/
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